Dec 3, 2011

Resource Alam to produce 6 mio tons coal

Coal miner PT Resource Alam Indonesia Tbk (KKGI), that is controlled by Adijanto family via Rain Group, is scouting a 6 million tons of coal production next year, a 71% increase from the targeted figure this year of 3.5 million tons.
"We are optimistic to reach our target as coal production by end of September reached 3.2 million tons," said Eric Tirtana, Head of Investor Relations at Resource Alam, as quoted by Kontan daily today.
Coal production is still contributed by Loa Janan sub block such as Sambutan, Tani Bakti Utara, and North Purwajaya in East Kalimantan. 
Average selling price in 2012 is expected to reach US$69 per ton with average cash cost of US$27.9 million tons.
Resource Alam plans to spend a US$4 million capital expenditure in 2012. The company targets to accomplish the construction of coal crushing facility in the first quarter of 2012. The installed capacity is estimated to increase to 10.9 million tons a year from 7.7 million tons.
Resource Alam, with concession area of 24,478 hectares located in East Kalimantan, is owned and founded by Adijanto family.
Pintarso Adijanto (Tan Hong Pheng), one of Adijanto's son, is in charge as Resource Alam's President Director and Swandono Adijanto (Tan Hong Swan) is one of the company's Commissioner.
Pintarso and Swandono have other siblings, Winoto Adijanto (Tan Hung Hwie), Suparno Adijanto (Tan Hong Kiat), Muriati Adijanto (Tan Phe Phe), Pandjijono Adijanto (Tan Hong Phang), and Mariana Adijanto (Tan Phwe Leng).
Disclosure: No position at the stock mentioned above.
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