MITRA INVESTINDO’S GRANITE OUTPUT DOWN

[CATEGORY: MINING]

   

PT Mitra Investindo Tbk said that its granite production from its concession on Bintan Island, Riau Islands Province, in the second quarter of this year declined to around 120,000 tons from 180,000 tons in the first quarter.

"During the first quarter, production was still around 60,000 tons per month, so it's about 180,000 (for the quarter). But in the second quarter, production declined to around 120,000 tons," said Finance Director Yoyong.

He estimated that output this year will be lower than last year's 800,000 tons as the company is set to wrap up the divestment of the Bintan Island granite quarry by the end of this year.

Mitra last year signed an agreement to sell the granite quarry asset to PT Sanmas Mekar Abadi as the company switched its main business to oil and gas.

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