Pamapersada lowers 2016 coal target
Saturday, January 9 2016 - 05:20 AM WIB
Coal mining services company PT Pamapersada Nusantara has decided to cut down coal production and overburden removal volume target for this year by about 10 percent amid the lingering coal downturn.
Pamapersada Corporate Secretary, Ary Setyawan told Petromindo.com Friday that coal production for this year is projected to decline to 99 million tons from last year?s 110 million tons, while overburden removal volume is projected to fall to 225 million bcm from 250 million bcm.
Ary said that the lower target was in line with the current drop in global coal price. ?In the short term, we don?t see any meaningful recovery in coal price, so we have to make the cut down,? he said.
To help meet the 2016 targets, Ary said the company would continue efficiency measures among others by forcing on lower stripping ratio. The company is also looking into gold mining business.
He added that for 2016, the company has no intention to get new clients or projects. Pamapersada is currently engaged in the operation of 14 mining projects.
Editing by Reiner Simanjuntak