Bayan secures 266mt coal sales
Monday, January 28 2013 - 02:02 AM WIB
IDX-listed coal mining group PT Bayan Resources Tbk has secured sales of about 266 million tons of coal for a period of between October 2012 until December 2029, the company said.
?The group has various commitments to sell 266.09 million tons of coal to various buyers, a proportion of which is subject to price agreement,? it said in a statement made available at the company website.
The Bayan Group, through various companies, has exclusive rights to mine under five Coal Contracts of Works and three IUPs over a total concession area of 81,265 hectares.
The eight mines of Bayan are: Gunungbayan (Block I and Block II),Wahana Baratama Mining, Perkasa Inakakerta, Teguh Sinar Abadi, Firman Ketaun Perkasa, Fajar Sakti Prima, Bara Tabang, Brian Anjat Sentosa with total reserves of more than 476 million tons.
Bayan also has 10 coal mines in East Kalimantan through indirect ownership from Kangaroo Resources.
Editing by Er Audy Zandri