Coal & Oil secures 5 MT of coal supply deal with E. Kalimantan miner
Thursday, October 27 2011 - 02:48 AM WIB
East Kalimantan coal miner PT Raja Kutai Baru Makmur (RKBM) has inked a 5 million tonnes coal supply deal with trading firm Coal & Oil, an industrial source told Petromindo.Com.
The coal supply deal will be started next year with volume of 500,000 tonnes in the first year and to increase to 1 to 1.5 million tonnes per annum starting 2013 onwards, the source said.
Raja Kutai operates a 8,500-hectare coal mine concession in Kutai Kartanegara regency. Only about 550 hectares of the mining area have been opened up with mineable reserveof around 20 million tonnes, the sources said.
RKBM is owned by Indonesian listed firm PT Ancora Indonesia Resources Tbk with 58 percent stake. (denny)