8 Months, Samindo Resources (MYOH) Realizes 63.78% from Target

JAKARTA — Issuer of coal mining contractor PT Samindo Resources Tbk. (MYOH) carried out overburden of a total of 34.7 million bank cubic meters (BCM) in January-August 2018. That volume covered 63.78% of the full-year target of 54.4 million BCM.

Investor Relations of PT Samindo Resources Tbk. (MYOH) Ahmad Zaki Natsir said, in the first 8 months of 2018, the company made coal production of 5.9 million tons, down 11.8% yoy. However, the overburden  volume reached 34.7 million bcm, an increase of 14.3%.

Details, at PT Kideco Jaya Agung, a subsidiary of PT Indika Energy Tbk. (INDY), contributing 87% and Bayan Group 13% for OB volume. Meanwhile, in the production of Kideco's contribution reached 82%, and Bayan 18%.

"The increase in OB volume is supported by low rainy frequency level, as well as the addition of heavy equipment and infrastructure," he told Bisnis.com recently.

In June 2018, the company added 10 dump trucks and 1 excavator. MYOH also carries out intensive road maintenance.

In semester II / 2018, the company believes that operational performance will be better as the weather improves and the addition of a number of new heavy equipment. Until the end of 2018, MYOH has targeted 54.4 million bcm of overburden stripping volume and 10.7 million tons of production.

Zaki also said, MYOH is still approaching a number of operators to win a new contract. Meanwhile, contract volumes from two export clients, Kideco and Bayan, also increased.