Orpheus recommences ADK?s production
Friday, September 14 2012 - 01:59 AM WIB
By Demas Simbolon
Australia-listed miner Orpheus Energy Limited said that its South Kalimantan coal mine, ADK, will recommence production in late September after the flood hit the mine in July.
Orpheus Executive chairman Wayne Mitchell said that the company expected to produce 45,000 tons in October from ADK mine.
?Our intention is to grow production in line with sales contracts, and mine profitability. Since June coal sales prices have fallen by 20 percent, our strategy is critical,? he said in annual general meeting chairman statement address submitted to the ASX.
He said that its newly acquired Citra Bara Prime is expected to commence production by year end.
Editing by Adianto P. Simamora