Baramulti opens new coal pit in S. Kalimantan
Saturday, July 8 2017 - 05:02 AM WIB
IDX-listed coal mining PT Baramulti Suksessarana Tbk plans to open up a new coal pit this month at its PT Antang Gunung Meratus concession in South Kalimantan.
?The contractor has been appointed. The hope is that this month we will start opening the new pit, called Block IV,? Baramulti President Director, Khoirudin told Petromindo.com on Friday following a shareholders meeting.
He said that the company has appointed local contractor PT Hasnur Riung Sinergi, and hopes to be able to produce 600,000 tons of coal this year from the new pit, with calorific value 3,800 kcal/kg (GAR).
He added that a potential customer has expressed interest for the coal from the new pit, initially on trial basis. He declined to provide details.
Elsewhere, Baramulti appointed two new commissioners and a new director on Friday following the recent entry of South Korea?s GS Global and GS energy into the company
He said that Shubh Srivastava and Henry Angkasa have resigned from the board of commissioners, and replaced by Pritimukta Sarangi and Hyoje Cho.
Meanwhile, Dongkon Chun has been included in the company?s board of directors.
GS Global and GS Energy in April of this year acquired respectively 9 percent and five percent shares in Baramulti, which Khoirudin said is expected to help expand the company?s coal market in South Korea.
Editing by Reiner Simanjuntak