Samindo Resources (MYOH) Boosts Production for Semester II / 2019

JAKARTA - PT Samindo Resources Tbk. will boost production in semester II / 2019 to pursue targets targeted this year.

Samindo Resources Investor Relations Manager Ahmad Zaki Natsir said the company's coal overburden removal (OB) volume was 25.37 million bank cubic meters (bcm) per the end of semester I / 2019. The realization fell 0.1 percent from 25.39 million bcm in the same period last year.

He explained that the main thing that affected the company's OB performance was rainfall. Because the rainfall, especially in June 2019, is very high.

In contrast, the company realized coal production or coal getting of 5.8 million tons in January-June 2019. This achievement grew 31.81 percent from 4.4 million tons in the first semester / 2018.

Ahmad revealed that there were two causes of growth for the company's coal production. First, coal exposure from last year. Second, there is additional equipment for coal getting activities.

"Until now, there has been no [revision], we are still focused on the targets that have been set," he told Business on Monday (7/22/2019).

For the record, the issuer coded stock MYOH is targeting OB volume of 58.1 million bcm in 2019. Coal production is targeted at 10.7 million tons.

To pursue the 2019 target, the company will boost production from July to November. One step taken by adding a working day.

"So far, the lack of achievement of targets is still in line with our estimates. So, we are still optimistic we can reach the target by the end of the year, "he added.