Darma Henwa ends coal mining services contract
Thursday, November 20 2014 - 01:09 AM WIB
IDX-listed mining services firm PT Darma Henwa Tbk said it has ended the mining services operation at a coal mine in Malinau, North Kalimantan, belonging to IDX-listed coal mining firm PT Mitrabara Adiperdana Tbk.
The company said in a statement Wednesday that the Malinau project is deemed to be no longer economically feasible to be continued. A number of companies have previously announced the suspension of their mining operations amid the lingering downturn in coal market and price.
Darma said that the company and Mitrabara have reached agreement to end the Malinau mining service contract and Malinau equipment lease contract, which were signed on August 28, 2012.
Editing by Reiner Simanjuntak