Borneo Indobara bags coal supply deal with Chinese firm
Monday, August 1 2011 - 03:25 AM WIB
South Kalimantan coal miner PT Borneo Indobara, a coal unit of Sinarmas Group?s PT Golden Energy Mines has bagged 1-year coal supply deal with Chinese firm Zhejiang Qiying Energy Coal & Chemical Co., Ltd.
Under the deal, which was signed on May 31, 2011, Borneo will supply 450,000 tonnes of coal to Zhejiang.
?This agreement is valid until June 30, 2012 or until the obligations of both parties are met, whichever is reached first,? the parent company said.
Borneo mine is located in Tanah Bumbu regency and it is targeting to produce 5 million tonnes of coal in 2011. Last year, it produced 1.25 million tonnes. (denny)