Coal Fe?s JV produces 57,071 tons in Q2
Monday, July 30 2012 - 07:32 AM WIB
ASX-listed company Coal Fe Resources Limited said that its joint mine management partner PT Toba Jaya produced 57,071 tons of coal from its concession in Kutai Kartanegara, East Kalimantan in the second quarter with all the output were sold it to domestic buyers.
It said that the coal sales were delivered onto barges anchored at the private jetty of PT. Pancaran Surya Abadi (Abadi) with transacted prices were within the range of US$25 ? $27 per ton.
Coal Fe and Toba Jaya entered into a joint venture and mine management agreement in April 2009.
?As provided in the joint mine management agreement between the company and Toba Jaya, these coal sales translate into a royalty of USD1.00 per ton for the company,? it said in the quarterly report.
Editing by Adianto P. Simamora