Anugerah Karya hopes to resume coal export next month
Tuesday, September 9 2014 - 12:46 AM WIB
Central Kalimantan coal miner PT Anugerah Karya Raya, which is majority owned by IDX-listed PT AKR Corporindo Tbk, hopes to be able to resume export in October following months of suspension.
Anugerah President Director Naresh Anchalia said that the company has obtained a recommendation letter from the Ministry of Energy and Mineral Resources to get the export permit from the Ministry of Trade.
?We?re optimistic that by the end of September, we will get the (export license) because we have completed all the necessary requirements,? he told Petromindo.com recently.
Under a new coal export procedure introduced by the government recently, set to be effective starting October, coal exporters must obtain permit from the Ministry of Trade to be able to continue ship the commodity overseas.
Anugerah operates five coal mine concessions in North Barito Regency, Central Kalimantan. The concessions are run by subsidiaries including PT Bumi Karunia Pertiwi (BKP), PT Rizki Tambang Selaras, PT Sarana Tambang Utama, PT Mineral Tambang Wahana, and PT Baruta Abadi. So far, only BKP has entered production stage, while the rest are still in exploration stage.
The company has suspended coal production and export during the past five months due to the downturn in the global coal market as well as the dry season that has caused difficulties in barging coal via the main Barito River.
Naresh said that Anugerah has been in talks to sign a deal to initially export 60,000-70,000 tons of its low sulfur coal to China.
Editing by Reiner Simanjuntak