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- From 2012 to 2014, coal producers experienced challenges from a declining coal price environment, and sustained coal price lows across 2015 and early 2016
- Despite these challenges, Oorja Group was committed to the development of the Karya Putra Borneo Concession and associated infrastructure, positioning itself as a low cost, low strip ratio producer of low sulphur, low ash, sub-bituminous coal
- The commencement of mining at Karya Putra Borneo concession and subsequent ramp-up of the Karya Putra Borneo concession have been instrumental in delivering Oorja the following:
- Production stability and tangible low Capex brownfield growth with initial infrastructure development mostly completed; and
- A significant decline in average strip ratios and group cash costs, driving EBITDA growth and some of the best EBITDA margins in the industry
- Any brownfield production growth at Karya Putra Borneo mine will be supported by internally generated cash flow, and remains discretionary assuming coal prices going forward are supportive, giving Oorja the flexibility to manage its growth
- This has been achieved despite the external challenges posed by coal price uncertainty and volatility
As a responsible coal mining and energy company our objective is to ensure coal production sustainably and efficiently.
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