MNC Energi?s 2013 coal output up 26%
Wednesday, April 16 2014 - 04:05 AM WIB
IDX-listed PT MNC Investama Tbk said that its coal mining unit PT MNC Energi (MNCE) saw production rising by 26 percent to 1.4 million tons last year from 1.1 million tons in the previous year.
The company said in a filing with the Indonesia Stock Exchange Monday that MNCE posted revenues of Rp688.6 billion, equivalent to 6 percent of MNC Investama?s consolidated revenues.
The company said it strongly believes that the completion of a coal terminal in the first quarter of 2014 will produce competitive advantages for MNCE in the form of cost efficiencies and further boosts the bottom line. It did not provide further details.
According to its website, MNCE operates eight coal concessions in South Sumatra, one of which has entered production, and another in East Kalimantan also already in production.
Editing by Reiner Simanjuntak