Bumi Resources prepares a CapEx budget of US$ 50 million
JAKARTA. PT Bumi Resources Tbk (BUMI) has prepared a capital expenditure (CapEx) budget of US$ 50 million - US$ 60 million to support its exploration activities in 2020.
Dileep Srivastava, Director of BUMI, said the budget is not much different from the budget for 2019.
So far, BUMI has no plans to add more coal mining reserves through acquisitions. According to information compiled by idnfinancials.com, BUMI already has coal reserves of 3 billion metric tons in three locations.
The three locations include Kaltim Prima Coal (KPC), Arutmin, and Pendopo. "So we have no plans to acquire another coal mine," Srivastava explained. (KR/AR)