Banpu sells Sumatra coal mine
Tuesday, May 8 2007 - 03:27 AM WIB
Thai energy firm Banpu PCL said last week it had sold its entire stake at PT.Barasentosa Lestari to PT.Duta Sarana Internusa and Buntardjo Hartadi Sutanto at an aggregate price of USD 800,000.
Barasentosa has a coal mining concession in South Sumatra with total resources of 38.8 million tonnes.
Banpu said it has decided to sell the mine, which is at feasibility study stage, as it considered not worthwhile developing the Barasentosa mine for commercial purpose. ??..the quality of coal reserves is of a moderate grade, that the mine location in Sumatra is distant from sea borne market, and that the infrastructure network has not been much developed to support coal transportation,? the company said in a filing to the Stock Exchange of Thailand Friday.
Banpu operates several coal mines in Kalimantan with combined annual output capacity of 20 million tonnes. (denny)