PTBA reports increase in reserves
Friday, March 13 2009 - 02:12 AM WIB
IDX-listed state coal mining firm PT.Tambang Batubara Bukit Asam (PTBA) reported on Thursday that its mineable reserves had increased by 10 percent to 2 billion tonnes as per end of 2008.
The company said it had commissioned UK based independent consulting firm IMC Group Consulting Limited to re-estimate the company?s resources and reserves. The reserves, the company said, included 220 million tonnes in Lahat area in South Sumatra, which are currently in dispute with local governments.
The company?s resources, however, declined by 200million tonnes to 7.3 billion tonnes. The decline, the company said, was mainly contributed by decrease in resources in Cerenti area, Riau. The changes in assumptions, also contributed to the decline, the company said in a report.
PTBA plans to increase sales volume by 13 percent this year to 14.5 million tonnes. (denny)