Samindo Resources Targets Coal Production of 10.7 Million Tonnes This Year
In 2018, PT Samindo Resources Tbk (MYOH) is targeting overburden removal of 54.5 million bank cubic meters (BCM) and production of 10.7 million tons of coal.
The target of overburden removal increased approximately 13.5% compared to the previous year ie 48 million BCM. In 2017, the company coded MYOH issuer realized overburden removal above the predetermined target of 51.5 million BCM.
Meanwhile, MYOH targets coal production of 10.7 million tons in 2018. This figure is slightly higher than the target and the realization of 2017 at 10 million tons.
Ahmad Zaki, Investor Relations of PT Samindo Resources Tbk, said that he can not mention the realization of revenues and net profit obtained in 2017. "Unfinished audited number," he said when contacted Kontan.co.id, Wednesday (21/2/2018).
In the third quarter of 2017, PT Samindo Resources Tbk recorded a net profit of US $ 8.63 million. Achieving it down by 44.92% compared to the same period last year that is US $ 15.67 million.
This year, MYOH will increase its capital expenditure (capex) to 300% to US $ 13.8 million. This is to increase the production capacity of already signed contracts.
During its business, MYOH relies on several subsidiaries such as PT SIMS Jaya Kaltim (overburden removal and coal getting), PT Samindo Utama Kaltim (hauling), PT Trasindo Murni Perkasa (coal hauling) and PT Mintec Abadi (exploration drilling).