Intra Energy quarterly production up 59.90 per cent

Intra Energy reported coal sales of 202,726 tonnes this quarter. The company’s Q3 mining production was 59.50 per cent higher than 2018’s Q3 performance at 192,722 tonnes.

Majority of the company’s resources come from its joint-venture ‘Tancoal’ Tanzania mine at 78.11 per cent. Intra currently owns 70 per cent interest in the project.

New equipment was recently awarded to the Tancoal site. Intra expects to increase production to more than one million tonnes per year.

For remaining company production, the Kenyan mine accounts for 13.52 per cent, Rwandan mine for 6.36 per cent and Ugandan mine for the remaining 2.01 per cent.

Intra continues to gain the bulk of sales towards cement production at 68.90 per cent of their production.

Followed by ceramics at 24.07 per cent, textiles at 4.16 per cent and the remaining 2.87 per cent attributed to miscellaneous.

Intra are currently the dominant industrial coal energy supplier in the East African region. The company plans to further diversify coal sales to regional communities.

The company expects recent cash flow from sales to free debt in the coming months.

Please see announcement for further details