Nov 4, 2011

Berau starts to explore Binungan site

Coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in Block 1 Binungan mine site (Prapatan) with a target production of 500,000 tons.
The output expansion is intended to underpin BRAU's annual production of 23 million tons. BRAU is now 85% controlled by Bumi Plc, a London-based company that was founded by Nathaniel Rothschild.
Public Relations Manager Berau Coal Bintoro Prabowo said the company started a mining construction at Prapatan last month. 
"Reserves at Binungan site is estimated about 10 million tons. We expect to produce 500,000 tons of coal next year," he said as quoted by Bisnis Indonesia today.
Berau Coal produced 17.3 million tons last year, 20.3 million tons this year, and 23 million tons next year.

Disclosure: No position at the stock mentioned above.

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