PT Samindo Resources (MYOH), an Indonesian small-sized coal miner, has set its coal output target at 10.7 MnT for CY19, almost unchanged from its target in CY 2018, Kontan reported on Monday citing Ahmad Zaki, an investor relations official of the company as saying.
The company, whose operations are located in Kalimantan Island, has targeted 58.1 million bcm overburden removal in CY19. Last year, the target for overburden removal was 54.5 million bcm, the paper reported.
The company also set aside USD 17.7 million as capital expenditure this year compared with just USD 13.98 million last year, as it remain optimistic about acquiring new coal mining services business next year.
The company would use the bulk of funds amounting to USD 14.5 Million for buying new heavy equipment and the remainder will be used for coal hauling, the report said.
At present, Samindo has 133 dump trucks and 18 excavators.
The company was also canvassing the market as it sought new clients for its mining service business. “We continue to find new potential clients,” Zaki said without naming them.
The company has signed a long term deal to provide mining service to PT Kideco Jaya Agung, a unit of PT Indika Energy.
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