PTBA Halts Exploration

By Editorial Team 13/09/2019
Summary

PT Bukit Asam Tbk (PTBA) suspended exploration activities until March 2020 as the state-owned miner will focus on optimizing resources and reserves calculation in areas with Mining Business License (IUP).  In the existing IUP, PTBA has coal resources of 8.2 billion tons as well as 3.3 billion tons reserves.

PTBA saw its coal output rose by 14.11 percent to 12.79 million tons in the first half of 2019 from the same period last year, equals to 46.92 percent of this year's total production target of 27.26 million tons. The company estimates rising outputs until the end of the year as the rainfall decreases.  PTBA's total sales are currently at 13.4 million tons.

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