Coal miner Golden Energy Mines (GEMS) plans to boost its coal production capacity to 18 million tons in 2018. It allocates capital expenditure (capex) of US$12 million for this year, to funding its mining operation. In 2016, it only spent US$2 million for capex as coal prices was at low level, then GEMS opted to not aggressive for expansion last year. For this year, GEMS targets to produce 12 million tons of coal. Its coal mining under management of PT Borneo Indobara (BIB) is set to lift production to 12 million tons this year from current 7.5 million tons. GEMS also expects to conclude the acqusition over BSL Group in September-October this year. GEMS will take over four subsidiaries of GMR Infrastruktur; PT Dwikarya Sejati Utama, PT Duta Sarana Internusa, PT Unsoco, and PT Barasentosa Lestari.
