May 2019, Samindo Resources (MYOH) Coal Production Grows 30 Percent, JAKARTA - PT Samindo Resources Tbk. has realized coal or coal production of 4.8 million tons as of May 2019 or 40% of this year's target.

Samindo Resources Investor Relations Manager Ahmad Zaki Natsir said the company is aiming for 10.7 million tons of coal production in 2019. Until May 2019, the volume has been realized as much as 4.8 million tons. "[As of May 2019] production rose 30%, last year [as of May 2019] 3.7 million tons," he said in Jakarta on Wednesday (6/26/2019).

In contrast, the total overburden removal (OB) stripping volume was recorded to fall 5% on an annual basis in January 2019 — May 2019. Because, the realization per end of May 2019 was 20.2 million bank cubic meters (bcm) or down from 21 , 4 million bcm the same period last year.

For the record, the issuer coded MYOH shares is targeting OB volume as much as 58.1 million bcm in 2019. Meanwhile, coal production is targeted at 10.7 million tons this year.

This year, MYOH is eyeing revenues of US $ 280 million. The target is up 16.13% from the realization of US $ 241.11 million in 2018. In terms of operations, Ahmad said the mining conditions are still fairly heavy up to semester I / 2019. This is due to the high rainfall in East Kalimantan.

As an illustration, he continued, maintenance hours lasted eight hours per day. This means that for eight hours the company cannot operate.

After the rain, sludge cleaning must still be carried out to transport coal. Therefore, some equipment is allocated for mud removal.

Nevertheless, MYOH has been anticipating since the beginning of the year. The strategy is taken by increasing capacity. As of the end of May 2019, the company has realized the purchase of 10 units of dump trucks. The capital expenditure allocated for the expansion is worth US $ 10 million.