Samindo Resources Production Increased 2.4% in Q3

Warta, Jakarta - PT Samindo Resources Tbk (MYOH), an integrated coal mining company in Indonesia, succeeded in boosting the production of overburden removal that had stalled during the first half of 2017.

Samindo Resources Investor Relations, Ahmad Zaki Natsir revealed that this happened after Samindo's new project in Bayan group which since mid-2017 finally rolled out.

"Up to the end of this third quarter, the number of overburden removal produced by Samindo has reached 35.8 million bank cubic meters (bcm) or increased by 2.4 percent," he said in an official statement in Jakarta on Thursday (19/10/2017).

Zaki said when referring to the contract, until the end of 2017 the production of overburden removal from the Bayan project is targeted at 2.6 million bcm. Until recently, a total of 1.3 million bcm of cover rock has been produced from the Bayan project. This means that up to three months remaining 1.6 million bcm of cover rocks must be generated to reach the target.

In addition to the additional cover of new contracts, the KIDECO project is also beginning to show improvement. Rainfall that began to decrease in intensity and the impact of the strategy "in pit dumping area" also began to give a positive result. Of the two pits done by Samindo, one of the pits began to record positive results since entering the third quarter.

"We managed to show excellent performance in Bayan, even in September our production exceeded the target set.In the first few months it was very heavy because in the last 15 years this is the first time we work outside of KIDECO mine, but we has proven it with a very good achievement, "he concluded.