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Bumi is on track for turnaround
Indonesia-focused miner Bumi will update the market by the year-end on plans to streamline its structure and boost shares, chief executive Nalin Rathod said yesterday. The firm said coal production rose nine per cent in the quarter in spite of heavy rain hampering progress, and it is on course to hit its output targets for the year. Production costs have risen, but the firm expects this to stabilise.