Toba Bara plans flat output next year despite rising price
Thursday, December 21 2017 - 01:10 AM WIB
IDX-listed coal mining firm PT Toba Bara Sejahtra Tbk plans to produce 5-6 million tons of coal in 2018, the same as this year?s production target, Kontan reported on Thursday.
Toba?s Head of Investor Relations, Iwan Sanyoto said the company will not ramp up production next year despite the current rising trend in the price of the commodity.
The company currently has four operating subsidiaries, three in coal mining namely PT Adimitra Baratama Nusantara (ABN), PT Indomining (IM), and PT Trisensa Mineral Utama (TMU) located in East Kalimantan.
Iwan said that the company?s performance will further improve next year, despite flat output growth, as price of the commodity is expected to rise.
He said the company will continue next year with efforts to increase coal reserves through exploration activities and acquisition. He said that acquisition is an ongoing process.
Other programs for next year include construction of its power plant projects. Iwan said the company is preparing to enter pre-construction activities for its planned 2x10 MW PLTU Sulbagut 1 coal-fired power plant project in Sulawesi, which is targeted to be completed in 2020. Toba is also in the process of securing financing for its 2x50 MW coal-fired power plant project in North Sulawesi Provine. (*)