PTBA halts exploration activates until September
Tuesday, March 22 2011 - 02:18 AM WIB
State owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) will halt exploration activities in its coal concession areas until September this year, the company?s executive said.
"We will not conduct exploration activities within six months until September, this year, except in areas where we have obtained permits,? the company?s corporate secretary Achmad Sudarto said in a notice submitted to the Indonesian Stock Exchange.
Sudarto, however, did not mention why the exploration activities would be halted given the company?s high sales target.
This year, PTBA expects to sell 16.8 million tonnes of coal, a 29 percent increase from 12.95 million tonnes last year. During this year, the revenue is expected to increase to Rp 10 trillion (1US$ = Rp 8,750). (kanti).