No coal shipments from Atlas? Kencana Borneo

IDX-listed coal miner PT Atlas says it remains unable to transport coal from its Diva Kencana Borneo mining site in Kutai Barat Regency (DKB concession area) to the vessel loading point, following the recent collapse of the Kutai Kartanegara bridge.

In a letter sent to the Indonesia Stock Exchange (IDX), Atlas says authorities are still investigating the collapse, which occurred on November 26, 2011, and traffic along the Mahakam river remains closed to general public use.

The company at present is yet to calculate the impact of the closure on its sales, saying it ?it will depend on several factors, including when the river is opened for barging and congestion in the river and transshipment areas after operations are resumed.?

Production at the site continues and the company has place barge loading operation on a standby in anticipation of shipments. It warns of severe impact if the traffic remains closed for a while.

?If our river logistics operations at the DKB Concession Area do not recommence prior to the second half of December 2011, the impact on our December 2011 sales could be significant.? (romel)