“We are much more focused on cost reduction than production increases, and even cost reductions with a slight production decrease,” Alastair McLeod, chief financial officer of Bayan Resources, told Reuters this week by telephone.
He said he doubted the firm’s original guidance for this year’s production would be achievable.
Bayan’s costs rose 49 percent in the first half of the year, above an average of 30 percent for six top miners in Indonesia, Reuters calculations show.
