PTBA?s nine-month coal production jumps 30%

By Tri Subhki R

Petromindo

IDX-listed coal mining and energy company PT Bukit Asam Tbk (PTBA) produced 16.9 million tons of coal from January to September 2017, or 30 percent increase compared to 12.9 million tons in the same period of last year.

In addition, the railway transport volume during the period also rose by 24.5 percent to 15.79 million tons compared to 12.68 million tons last year.

"These increases in production and coal transport volume translate into improving revenue from Rp10.04 trillion in January-September 2016 to Rp17.24 trillion," PTBA's President Director Arviyan Arifin said on Thursday.

As of September 2017, the company booked a net profit of Rp 2.62 trillion, a 250 percent surge compared to Rp1.05 trillion in the same period last year.

Arviyan stated that PTBA aims to produce 21.92 million tons of coal this year, or 9.9 percent increase compared to 19.95 million tons last year.

"We have not yet decided the production volume for next year. For us, the coal reserve and mining activities are not the issues, but logistical issue is," he said.

Editing by Reiner Simanjuntak