Borneo clinches coking coal sale deal with Chinese firms
Tuesday, May 10 2011 - 03:33 AM WIB
Two Chinese firms have signed deal to buy 2 million tonnes of coking coal from IDX-listed miner PT Borneo Lumbung Energi & Metal Tbk for this year.
Borneo?s Geroad Jusuf was quoted by media as saying that General Nice and Zhonglian Resources Company will buy 1 million tonnes each with market price.
The purchase of the two companies account for 55 percent of Borneo?s planned production of 3.6 million tonnes this year.
Borneo also sells its coal to other companies such as Nippon Steel, Bengal Energy, Tata Steel, Hyundai and China steel.(*)