Cipaganti starts coal shipment from E. Kalimantan mine
Wednesday, April 27 2011 - 02:08 AM WIB
The mine, which is operated by its unit Koperasi Paser Bolum Taka will ship 15,000 tonnes of coal through three barges to local customers in Java, Cipaganti Group CEO Andianto Setiabudi told Petromindo.Com on Wednesday.
Andianto said that the mine is currently producing 45,000 tonnes per month. The company sells its coal to domestic market, including 10,000 tonnes per month to textile firms in West Java and another 10,000 tonnes per month to trading firm PT Maha Karya.
Cipaganti sells its coal under FOB barge with spot price of Rp 420,000 (1US$ = Rp 8,600) per tonne, he said.
For export, Cipaganti will sell to China market through trading firm called PT Shang Wei International, he added.
Andianto said Cipaganti, which started business as car rental firm in West Java, will boost its Eask Kalimantan coal production to 250,000 tonnes per month starting early next year as its three newly acquired mines will start contributing around 200,000 tonnes per month.
The three coal mines that it recently acquired are CV Temiang, PT Adas Abadi and PT Maesa Persada Jaya. The mines are expected to starts coal production in the fourth quarter of this year, he said. The company will sell the coal from the mines to global traders Noble Group and Peabody Energy.
The company is also cooperating with Sinar Mas group?s coal unit PT Golden Energy Mines to supply the coal to pulp and paper firms PT Riau Andalan Pulp & Paper (RAPP) and to Sinar Mas? paper mill in China.
Earlier, Cipaganti had acquired five coal concessions in East Kalimantan, with combined reserves of about 223 million tonnes. The five coal mines are Penajam block Laut Tambang in Damai, East Kutai. Sandaran block in East Kutai, Bentian block in West Kutai and Bongan block in West Kutai . (giok)