Samindo Resources (MYOH) produce 4.4 million ton coal

JAKARTA - PT Samindo Resources Tbk mining contractor. (MYOH) realized overburden volume of 25.4 million bank cubic meters (bcm) or 46.49% of the full year target of 54.4 million bcm.

Samindo Resources Investor Relations Ahmad Zaki Natsir said that in the first half of 2018, the company carried out coal production of 4.4 million tons, and overburden of  25.4 million bcm.

The details are at PT Kideco Jaya Agung, a subsidiary of PT Indika Energy Tbk. (INDY), amounting to 21.9 million bcm, and Bayan Group 3.35 million bcm. However, volume of production or coal getting decreased by 13.4% yoy from semester I / 2017 due to weather constraints and problems in the contractor.

"In June, the problem has been overcome, and the fleet for coal getting has also been added," he told Bisnis on Tuesday (08/14/2018).

Zaki is still reluctant to disclose the financial performance of MYOH semester I / 2018, because it is still being audited by PricewaterhouseCoopers (PWC). The report will be released on 20 December 2018.

In the second semester of 2018, the company believes that operational performance will be better along with the improved weather and the addition of a number of new heavy equipment. Until the end of 2018, MYOH targeted 54.4 million bcm of overburden volume and 10.7 million tons of coal.

Zaki also said, MYOH was still approaching a number of operators to win a new contract. The contract volume of two existing clients, Kideco and Bayan, also increased.