Berau Coal bags long-term contracts with foreign firms
Thursday, May 5 2011 - 01:05 AM WIB
East Kalimantan coal miner PT Berau Coal has bagged long-term coal supply contract to ship a combined 3 million tonnes per annum (mtpa) of coal to new foreign clients.
Berau has signed a deal with Chinese firm Huaneng Power International Fuel Co., Ltd to supply 1.5 mtpa for five years, starting this year until 2015. The selling price is negotiated every six months.
Berau has also clinched a new deal with Singapore-based Zhushui International Energy Pte., Ltd to supply 1.5 mtpa for three years, starting this year until 2013. The selling price is determined on yearly basis, it said.
Both contracts were signed last year, the company said, without giving further details.
Berau Coal is expected to produce 20 million tonnes of coal this year, up from 17 million tons in 2010 and it has planned to boost its output to 30 million tonnes per annum in 2014. (denny)