Coal mining TAJ starts contributing to Timah’s profit
Wednesday, March 30 2005 - 02:57 AM WIB
State tin miner PT Timah said Tuesday its coal mining unit PT Tanjung Alam Jaya (TAJ) produced around 252,289 tons of coal during the period of April-December last year, while in the same period PT Timah Investasi Mineral sold around 253,064 tons of coal.
Timah said in a financial report that its coal business contributed around 4.2 percent of total sales revenue last year. Timah’s sales revenue reached Rp 2.81 trillion in 2004.
TAJ would produce one million tons in 2005, it said, adding that Timah would also continue to seek for new coal resources venture.
Earlier Timah president Thobrani Alwi said that TAJ had signed contracts to sell around 300,000 tons of coal with South Korean firm LG, Japan trading house Mitsubishi, and trader Noble Energy. All are for 2005 shipments.
TAJ operates a 9,721-hectare coal mine in Banjar regency, South Kalimantan, which has mineable reserves of around 10 million tons. (godang)