Adimitra close to seal deal with European buyer

East Kalimantan coal miner PT Adimitra Baratama Nusantara said it is close to sign final deal to sell 7 million tonnes of its coal to undisclosed European buyer.

Director Arthur Simatupang said the contract will cover the period of 3 years. Arthur said that the deal will be signed after the company appoints new contractor to carry out mining activities. He did not disclose when shipment will start.

Arthur said the mine will produce 1.5 million tonnes this year and 3 MT next year.

Managing Director Heddy Soerijadji told Petromindo.Com that contractors; Thiess, Petrosea and Madani are currently on the short-list with winner to be picked up shortly.

He said that the company failed to reach initial target of 3 MT this year due to poor performance of its current mining contractor.

The company exports all of its coal production.

The company?s has JORC-compliant reserves of 37 MT with resources of more than 100 MT.

The company produces coal with CV of 5,800-6,300Kcal/kg (ADB).(denny)