Renuka to double coal output

By Hiski Darmayana

IDX-listed coal miner PT Renuka Coalindo Tbk aims to double coal production this year to 800,000 tons from 400,000 tons last year.

?To achieve the target, we?ll maintain low cost of production, and we have also prepared capital expenditure of less than US$1 million,? said Chief Commissioner of the company Suresh Kumar following a shareholders meeting Tuesday.

Suresh that in terms of market this year, the company will export the bulk of its production to India. ?But if the China market recovers, we?ll also export there,? he said.

Through its subsidiary PT Jambi Prima coal, Renuka operates a coal concession in Sarolangun, Jambi, which is estimated to have coal reserves of 9.26 million tons, and resources of 120.3 million tons.

Editing by Reiner Simanjuntak