HomeNewsVideos

GEMS allocates US$ 20 million capex for 2020

05 February 2020 14:26

JAKARTA - PT Golden Energy Mines Tbk (GEMS) has allocated capital expenditure (capex) of US$ 20 million for this year. The capital expenditure will be used to support mining infrastructure.

"[Capital expenditure] only to support infrastructure, there is no new exploration," said Golden Energy Mines President Director Bonafasius as quoted from Bisnis.com.

For information, GEMS has a total coal mining area of ​​66,204 hectares with potential resources of 2.89 billion tons. GEMS business activities are spread throughout Jambi, South Sumatra, West Sumatra, South Kalimantan and Central Kalimantan.

This year, GEMS targets coal production to reach 29 million tons. This figure is lower compared to the company's coal production in 2019, which is 30 million tons. (LM)

© 2024 - IDN Financials - All Rights Reserved.