Atlas Resources seeks new mining contractor
Monday, March 14 2016 - 12:59 AM WIB
IDX-listed coal mining firm Atlas Resources Tbk is seeking for a new mining contractor as the company aims to boost production capacity by up to three times at its Mutara coal concession in South Sumatra.
?We?re in negotiation with a number of contractors,? said Andre Abadi, President Director of Atlas to Petromindo.com on Thursday. He said that one of the contractors is PT Cipta Kridatama.
Andre explained that after completing construction of new infrastructure facilities last year, the company plans to boost coal production. The company has signed long-term coal supply contract with state-owned electricity firm PT PLN.
He said that negotiation process is expected to be concluded in the second quarter of this year.
Atlas, which also owns coal mine in East Kalimantan, has set higher coal production target of 2.2 million tons this year, compared to 1.75 million tons last year.
Editing by Reiner Simanjuntak