Coal mining company PT Indo Tambangraya Megah Tbk (ITMG), subsidiary of Thai Banpu Plc, produced 11.2 million tons of coal in the first half this year (1H 2010). Indo Tambangraya aims to produce 23 million tons of coal in 2010.
Indo Tambangraya produced 6 million tons of coal in the first quarter 2010 and 5.2 million tons of coal in the second quarter this year, while total coal sales volume in the first quarter reached 6.1 million tons.
In the first half 2010, Indominco mine produced 7.1 million tons of coal and sets a full year target of 13.2 million tons.
Trubaindo mine produced 3 million tons with annual target of 6 million tons, Jorong mine produced 0.4 million tons with annual target of 2 million tons.
Embalut mine could produce 0.8 million tons of coal in the first half 2010 with an annual output target of 1.6 million tons, and Bharinto mine targets 0.2 million tons of coal with first production scheduled in the fourth quarter this year.
Indo Tambangraya also plans to spend US$101 million of capital expenditure in 2010. Indominco East Block needs US$7.5 million, Bontang Power Plant requires US$5.3 million, and Trubaindo Infrastructure requires US$20.4 million.
The company will spend US$10.5 million of capex for Td. Mayang equipment, US$20 million to support Bharinto Project development, and US$37.3 million for improvement initiatives.
In the first quarter 2010, Indo Tambangraya posted US$407.51 million of net sales, US$107.05 million of EBITDA, and US$67.17 million of net income.
Disclosure: No position at the stock mentioned above.
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