Central Korporindo mulls seeking partner for coalmine in Tanah Laut

South Kalimantan-based coal trader PT Central Korporindo International (CNKO) is seeking for partner to operate its coal concession in Kintap, Tanah Laut Regency.

?We are still considering whether to form a joint operation company or to find a lender to finance the coal mine operation,? CNKO?s corporate secretary Erry Indriyana told Petromindo.Com Monday.

Erry said CNKO had recently received the exploitation permit for the coalmine from the Tanah Laut Regency and the company expected to start construction stage this year. Erry did not say the volume the company was looking to produce.

?In the beginning, production from the coalmine is aimed mainly to balance the stockpile requirement for trading,? he added.

CNKO has a 700-hectares coal concession. Based on the feasibility study, the coalmine contains a demonstrated sub-bituminous coal reserve of around 11 million tons. (robert)