Bumi claims to have secured 50 MT contract
Monday, June 11 2012 - 01:44 AM WIB
PT Bumi Resources Tbk said it had secured a coal sale contract of 50 million tons, making it optimistic that it could realize sale target of 75 million tons this year or an increase of 18.3 percent compared to 63.4 million tons reached in 2011.
But the company refused to identify the buyer, saying that it had to comply with regulation on the sale and purchase of coal. ?We expect to realize the target during the third quarter of this year,? Dileep Srivastava, Finance Director of Bumi said as qouted by Kontan.
He said that Bumi had allocated an expansion fund big enough to meet the target of coal sale.
The investment fund will be used to increase production from the mines operated by PT Arutmin Indonesia and PT Kaltim Prima Coal (KPC). The rest will be used to improve infrastructure.(*)