KPC produces 4.2 million tons in Q2
Friday, July 12 2002 - 08:21 AM WIB
East Kalimantan-based coal mining giant company PT Kaltim Prima Coal (KPC) announced on Friday its coal production had reached 4.2 million tons in the second quarter of 2002, slightly down from target.
The company said it would do its best to fulfill 2002?s annual production target of 17.2 million tons.
Of the 4.2 million tons, some 3.5 million tons were shipped from Sangatta in East Kutai, East Kalimantan where KPC operates a huge coalmine, the company said in a statement.
A significant portion of KPC?s coal production is shipped to Japan, South Korea, and Taiwan.
KPC is equally owned by world mining giants Rio Tinto and BP. Under its contracts of works, the company?s shareholders are required to divest 51 percent of their shares to local investors. According to the initial schedule, the divestment should be completed by July 31. (godang/robert)