Resource Alam?s five-month output at 40% of full-year target
Tuesday, June 28 2016 - 02:22 AM WIB
IDX-listed coal mining firm PT Resource Alam Tbk said that coal production volume in the first five months of this year totaled 1.7 million tons, or only about 40 percent of the full-year target of 4.2 million tons.
This was revealed by company Independent Commissioner Suria Martara recently. He said that production activities in the first half of this year has been undermined by weather condition. He said the company would push production in the second-half to meet the full-year target.
The company?s coal production this year will come from its subsidiary PT Insani Bara Perkasa, which operates mines in East Kalimantan, producing coal with CV of 4,500-5,000 kcal/kg.
The company has suspended the operations of two other subsidiaries PT Loa Haur (with coal mines in Central Kalimantan), and PT Kaltim Mineral (in East Kalimantan) amid the lingering coal downturn.
Suria said it remains unclear as two when the suspended mines will resume operation.
He added that Resource Alam exports its coal output to India, China, South Korea and Malaysia.
Editing by Reiner Simanjuntak