Ancora to start coal-trading business in 2009
Saturday, December 20 2008 - 04:32 PM WIB
The company said in its presentation material filed with the IDX on Friday that it planned to trade 1-3 million tonnes of coal in 2009 starting January.
The company said it is currently in talks with trading partners from Malaysia and Japan to act as agent for coal supply from a number of sources in Indonesia. The company is also in negotiation with a number of ?major? coal producers for supply, it said.
The company also plans to cooperate several coal mining licenses holders under offtake agreement and financing scheme to ensure stable coal supply.
AIR is a subsidiary of PT Ancora Resources, which is controlled by former JP Morgan Indonesia Country Head.
Currently, the company has 40 percent stake in ammonium nitrate producer PT Multi Nitrotama Kimia .(alex)