Bumi Resources targets coal production of 90 million tons

JAKARTA, APBI-ICMA: Okezone.com January 8, 2019 reported that throughout 2019, PT Bumi Resources Tbk (BUMI) targeted coal production of 90 million metric tons.

"This year's target is greater than last year's production of around 85-86 million tons of coal," said Director of PT Bumi Resources Tbk, Dileep Srivastava in Jakarta.

This year, he continued, the company will focus on boosting high-calorie coal to 8 million tons to 9 million tons from PT Arutmin Indonesia. Overall, Arutmin Indonesia targets coal production of 31.9 million tons in 2019.

Then in order to achieve the production target, BUMI has prepared a capital expenditure of US60 million for maintenance. "This capital expenditure is obtained from internal companies," he said.

He sees the downward trend in low-calorie coal prices is still a major challenge for this year. For information, the benchmark coal price (HBA) in January 2019 fell slightly to USD92.41 per ton compared to the December 2018 HBA which was USD92.51 per tonne. The HBA trend has continued to fall in the past six months.

Therefore, BUMI spurred high-calorie coal production which prices tend to be stable. In addition, Dileep said, paying debt is also the focus of BUMI this year.

Source:
https://economy.okezone.com/read/2019/01/08/278/2001408/bumi-resources-bidik-pharga-batu-bara-90-juta-ton

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