TEMPO.CO, Jakarta - State-owned coal miner Bukit Asam (IDX: PTBA) said it would not carry out exploration activities for the next six months. The announcement was made in a disclosure published Wednesday, April 5, 2017.
"Until the next 6 months, which is September 2017, the company will not carry exploration activities for additional resources outside areas that we have attained exploitation permits for," corporate secretary Adib Ubaidillah said on Wednesday.
Bukit Asam's explorations will only be done in areas which they have obtained permits to exploit.
The company is preparing a capital expenditure of Rp5 trillion this year, mostly of which is allocated for expanding electricity business and acquiring coal mines.
Sixty percent will be used to expand power plants and mines while 10 percent is allocated for mining operations in Tanjung Enim, South Sumatra. The remaining 30 percent is allotted for strengthening mining infrastructure.
Today, the company has proven reserves of coal amounting to 3.3 billion tons. Its coal resources amount to reached 8.3 billion tons.
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