PTBA suspends exploration activity
Tuesday, September 12 2017 - 12:51 AM WIB
Petromindo|Khalsa
IDX-listed coal giant PT Bukit Asam Tbk (PTBA) said that it would not carryout exploration activity over the next six months from October 2017 through March 2018.
?PTBA won?t carryout exploration activity for finding new (coal resources) outside areas that have obtained exploitation permit,? the company said in a statement on Monday, but did not disclose the reason for the suspension.
The statement said that PTBA?s current total coal resources stand at 8.27 billion tons, with reserves of 3.33 billion tons. Of the total, if production is maintained at 30 million tons per year, the company?s coal production is projected to last for more than 100 years from now, it said.
Editing by Reiner Simanjuntak