Cita Mineral Investindo in Indonesia stays positive for its bauxite mining and alumina production growth for left-over 2020

PT Cita Mineral Investindo Tbk presumes that the performance of its bauxite and alumina business will pursue to grow for the left-over 2020, despite the challenges of the COVID-19 pandemic.

Cita Mineral remains hopeful for the rest of the year

The company is yet to report its results for the first half of operational performance. During Q1 of 2020, CITA produced 2.62 million tonnes of Metallurgical Grade Bauxite (MGB). This number grew 45.55% on Y-o-Y compared to production in the first quarter of 2019 of 1.80 million tonnes.

On 30th July’20, Yusak Lumba Pardede, Director of Cita Mineral Investindo said: “Until the end of the year, the company targets MGB production in the range of 10.2 million tonnes - 11 million tonnes. It is hoped that there are no significant obstacles so we can reach the target at the end of the year.”

CITA mineral remains hopeful for the rest of the year

The Director also ensured: “CITA's mining and mineral processing operations are still running smoothly thanks to the implementation of the strict Covid-19 health and prevention protocol in the company's work area.”

PT Well Harvest Winning Alumina Refinery, a subsidiary of CITA, succeeded in producing SGA of 237,689 tonnes in the Q1 of 2020 or grew 2.10% Y-o-Y compared to the realization of production in the Q1 of 2019 of 232,778 tonnes.

Cita Mineral remains hopeful for the rest of year for production

Hidayat Sugiarto, Deputy Finance & Accounting, Well Harvest Winning Alumina Refinery said: “Some of the SGA produced by CITA was marketed to countries that have alumina factories such as India and Malaysia.”

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CITA has the opportunity to increase SGA sales in the domestic market following the signing of a contract with PT Indonesia Asahan Aluminum (Inalum) this year. In a way, Inalum can be said to be the main customer of CITA. "We have completed three contracts and there are still three more contracts with Inalum," Hidayat said.



source https://www.alcircle.com/news/cita-mineral-investindo-in-indonesia-stays-positive-for-its-bauxite-mining-and-alumina-production-growth-for-left-over-2020-57620

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