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Renuka targets its second plant to start operation in June 2019

06 February 2019 02:52 PM  Company: PT. Renuka Coalindo Tbk[SQMI]
Rp. 186  +1 (0.54%)

JAKARTA - PT Renuka Coalindo Tbk (SQMI) aims to be capable to produce 1,500 tonnes of gold per day (Tpd) in 2022, triple its current production capacity of 500 Tpd. The construction of the second gold processing plant is part of the plan to expand its first plant, with the purpose to increase the company's production capacity.

As cited from the company's public expose sheet,  Renuka Management stated that the second processing plant was 70% completed as of the end of 2018. The plant is targeted to operate in the second semester of 2019. The capital expenditure used for the plant construction is US$ 26 million. 

Based on the company's financial report, in December 2018, Renuka's revenue was recorded at US$ 199,625, declined compared to its revenue during the same period of 2017 (US$ 246,858). The contributor to the revenue was PT Wilton Wahana Indonesia. During the same period of 2017, Wilton did not contribute to the revenue, while KSO Seluma Prima Coal and KSO PT Marlin Serantau Alam contributed US$ 144,657 and US$ 102,201 respectively. (LK/AR)

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PT. Renuka Coalindo Tbk [SQMI]   Rp. 186   +1 (0.54%)