Samindo Resources Record Growth Volume of Overburden Removal

PT Samindo Resources Tbk (MYOH), a coal mining services company, successfully closed its operations in 2017 with excellent operational performance.

Real Deal Investor MYOH Ahmad Zaki Natsir revealed that the overburden removal activity which is the main source of revenue of the Company grew by 7.4% compared to last year. Rising volume of overburden of the Company in 2017 also means that the number of overburden successfully transported by the Company exceeds the pre-set targets.

Total overburden that successfully transported the Company during 2017 reached 51.6 million bank cubic meters (bcm). In addition to the addition of new projects, the Company with Bayan group, the production of overburden from the KIDECO mine also increased by 2.5%.

Meanwhile, Bayan own project this year contributed 2.3 million bcm of overburden. The amount is not too significant because the Bayan project is only started in the middle of the year.

"This achievement is very remarkable because during 2017, various obstacles have the potential to inhibit the closure of rock covering activities, and high rainfall during 2017 is the greatest challenge to face, besides the cessation of operations during the rain, piles of mud in the pit, automatically increased, so often some heavy equipment must be allocated to move the mud, "he said in an official statement in Jakarta, Wednesday (24/1/2018).

Furthermore, Ahmad Zaki mentioned PT SIMS Jaya Kaltim (SIMS), a subsidiary of the Company in charge of the closing overburden activities that manage the equipment very well during 2017.

As is well known, the Company currently has two active contracts. The new SIMS contract with Bayan group has been started since the middle of last year. This means that some heavy equipment must be allocated to the Bayan project. While during the year 2017 practically no addition of tools.

"This is one proof of the reliability of our subsidiaries in the provision of coal mining services We are facing a difficult situation throughout the year 2017 with weather issues and equipment limitations, but with long experience and hard work, SIMS successfully closed the year 2017 with great good, "he concluded.