Mitrabara halfway to meet full-year production target
Thursday, August 31 2017 - 02:00 AM WIB
IDX-listed coal firm PT Mitrabara Adiperdana Tbk is halfway to meeting its production target this year, as the company has already produced about 50 percent of the full-year target in the first semester.
?Production as per June 2017 was about 2 million tons, or 50 percent of the (full-year) production target,? said Chandra Lautan Luas, Corporate Secretary of Mitrabara to Petromindo.com on Wednesday.
Chandra said that the company?s initial production target this year has not changed.
The company is expected to produce approximately four million tons of coal in 2017 or about the same as realized production in 2016.
Mitrabara, which owns a total area of 2,960 hectares of coal concession, currently operates two adjacent coal mines in Malinau, North Kalimantan. Its strategic location offers more competitive shipping costs for the markets in the Philippines, Taiwan and Japan.
Mitrabara, part of Baramulti Group, produces low to medium calorific value coal (5,400 ? 5,700 kcal/kg GAR) with low ash content and very low sulfur content, which means environmental-friendly coal. The company sells most of its coal to power plant companies in Asia Pasific region.
Editing by Reiner Simanjuntak