UT will not revise target in mining contractor segment

By Cepi Setiadi

PT Pamapersada Nusantara (Pama), a mining contractor subsidiary of IDX-listed United Tractors Tbk (UT), sticks to its targets of increasing coal production up to 3 percent and cutting overburden removal around 3-5 percent this year.

Sara K. Lubis, UT Corporate Secretary, told Petromindo.com on Monday that the company will not revise its annual targets in the second half year amidst unstable coal market

"So far, there is no revision on our target," he said adding that in 2012, Pama produced about 94.4 million tons of coal and removed up to 855.5 million bcm of overburden.

The company reported that in the first half year 2013, Pama's coal production rose 13 percent to 50.1 million tons from 44.5 million tons in the corresponding period of last year, while its overburden removal was up 2 percent from 407.3 million bcm to 414.5 million bcm. As a result, its revenue from mining contracting segment rose 12 percent to Rp14.44 trillion from Rp12.93 trillion the previous year.

Editing by Johannes Simbolon