Nov 3, 2010

Saptaindra revises down coal output

Coal mining contractor PT Saptaindra Sejati, subsidiary of Indonesia's coal producer PT Adaro Energy Tbk (ADRO), has revised down coal production target from 22 million tons to 18.4 million tons by the end of this year.
"Heavy rain fall becomes the main factor for the revised. Other coal contractors have also experienced the same problem," said Devindra Ratzarwin, Adaro's Deputy of Corporate Secretary, said.
Along with the coal output, Saptaindra has set an overburden target of 126.4 million bank cubic meter. As of September 2010, Saptaindra managed 29% of Adaro's total production or 31.84 million ton. 
Indonesia's largest coal mining contractor PT Pamapersada Nusantara managed 38%, PT Bukit Makmur Mandiri Utama (BUMA), wholly owned subsidiary of PT Delta Dunia Makmur Tbk (DOID), managed 18%, and 13% for PT Rahman Abdijaya.

Disclosure: No position at the stock mentioned above.  

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