Pursue Sales, Renuka Coalindo Targets Get Mining Permits

By : Aldo Bella Putra | Wednesday, July 26 2017 - 04:31 IWST

5166
5166

INDUSTRY.co.id - Jakarta - PT Renuka Coalindo Tbk (SQMI) targets to obtain a special production operation mining permit (IUP OPK). This is done to be able to pursue the sale of coal reaches 600,000 tons.

Last year, the company said it has acquired a new contract to export coal, but unfortunately this export is constrained because the company has not obtained the IUP OPK permit.

"We have taken care of the licenses after the permit issued, we just can export," said Director of PT Renuka Coalindo Tbk, Shantanu Lath at BEI Building, in early June.

Therefore, this year the company is optimistic to export to major buyers of coal produced by the company, Shree Group Renuka Sugars Limited, India.

Shantanu said this year the company will focus on coal trading business after selling its assets in Jambi Prima Coal and Surya Global Makmur.

SQMI once achieved the highest coal sales figure of 1.2 million tons in 2012. Unfortunately, when the price of coal commodities declined, the company lost and decided to sell its mining assets.

For the fiscal year 2016-2017, the company said net sales of US $ 4.38 million, which decreased by 40% compared to revenue in the fiscal year 2015-2016 worth US $ 7.30 million.

In addition, the company obtained a net profit of US $ 527 thousand from the sale of its assets, while for the year 2015-2016 the company still suffered loss of US $ 1.76 million.

Currently, the company's total assets are worth US $ 479 thousand for the year 2016-2017, decreased from US $ 10.94 million in 2015-2016.

News Comment

Today's Industry

Tanny M, Business Development Division Head, resmi membuka Safety Campaign Award 2018

Jumat, 20 Juli 2018 - 19:00 WIB

Safety Campaign Award 2018 Officially Opened

Jakarta - Based on data from Polda Metro Jaya, during the period of January-December 2017, at least victims who had a traffic accident reached 6,949 people. This figure is down 4 percent from…

Pekembangan Emas

Jumat, 20 Juli 2018 - 18:30 WIB

Gold Drops, Dollar Rises

Jakarta - This trading week may be very bearish for gold that slumped to its lowest level this year amid Dollar appreciation.

Agung Hendriadi Kepala Badan Ketahanan Pangan Kementan (Foto Dok Industry.co.id)

Jumat, 20 Juli 2018 - 18:00 WIB

Ministry of Agriculture Discusses Food and Nutrition Issues Together with FAO and WFP

Jakarta - Agricultural development is very important in fulfilling the food and nutritional needs of the community, therefore _Food Agriculture Organization (FAO) and World Food Program (WFP)…

DR. Rizal Ramli, Ekonom Senior (Foto Dok Industry.co.id)

Jumat, 20 Juli 2018 - 17:30 WIB

#Thepowerofemakemak Movement Ask Rizal Ramli to be 2019's Captain

Jakarta - A group of mothers who joined in the #thepowerofemakemak movement declared support for Rizal Ramli as a presidential candidate for the period 2019-2024.

Pertemuan Ketum Golkar Airlangga Hartarto dan Ketum PDIP Megawati Soekarno Hatta

Jumat, 20 Juli 2018 - 17:00 WIB

LIPI Predicts Six Party Escaped Parliamentary Threshold

Jakarta - Indonesian Institute of Science (LIPI) Survey estimates that only six political parties pass parliamentary threshold or parliamentary threshold in 2019 election, but anything can happen…