JAKARTA (Yosefardi) – Coal miner PT Harum Energy allocates capital expenditure (capex) of US$10 million for 2014, declined 33.3% from this year’s capex of US$15 million.
The capex will mostly (80%) be used to fund the maintenance of infrastructure while the rest for expanding its coal production capacity.
The company allocates lower capex for next year due to the postponement of production in 2 coal mine concession owned by units, PT Karya Usaha Pertiwi and PT Tambang Batubara Harum. This 2 concession will start producing next year.
Harum Energy targets to produce 12 million tons of coal next year and to sell 13.2 million tons of coal. In January-September of 2013, the company’s coal sales totaled 10.8 million tons, declined 5.5% from 11.4 million tons in the same period of last year.