Borneo secures 2MT of coking coal supply deal
Tuesday, January 25 2011 - 02:43 AM WIB
Indonesia-listed coking coal mining firm PT Borneo Lumbung Energi and Metal Tbk said that it has secured a one year contract from Chinese firms to supply 2 million tonnes (MT) of coking coal this year.
The company said that the buyers are General Nice and Zhang Lian, which each will buy 1 million tonnes.. The average price will be around US$190-195 per tonne. ?The price will be based on market price,? The company?s corporate secretary Geroad Jusuf said on Monday.
The company plans to produce 3.6 million tonnes of coking coal this year, higher compared to last year?s production of 1.95 million tonnes, which the coal will be sourced from its Central Kalimantan hard coking coal mine unit PT Asmin Koalindo Tuhup (AKT). (*)