JAKARTA - In 2019, PT SMR Utama Tbk (SMRU) targets overburden removal of 30 million bank cubic meters (BCM).
This figure decreased by 3 million bcm compared to the achievement of the SMRU in 2018 with 30 million bcm. The reduction in target was not caused by the reduction in the number of contracts, but because of the finishing block.
"The reason is not because the number of contracts is reduced, but because of the block conditions. We have a finishing block, so it is smaller in volume," said Ricky Kosasi, Corporate Secretary of SMRU to idnfinancials.com.
For information, SMRU budgeted capital expenditure or capex this year of Rp 300 billion. The use of the capex will be focused on replacing equipment and maintenance. This capex comes from a combination of operational cash and financial institutions. (LM)