Dayaindo secures 3.52MT coal supply contracts
Tuesday, August 12 2008 - 04:09 PM WIB
IDX-listed mining firm PT.Dayaindo Resources said on Tuesday it had clinched coal supply contract of 3.520 million tonnes to three buyers with value estimated at US$156 million.
The company said it would supply 1.8MT to Indian trader Knowledge Infrastructure System, 1MT to Switzerland trader Glencore International AG and 720,000 tonnes to Indonesia Power.
Coal shipments will start September this year with shipments expected to be completed in 1-2 years, it said.
The company also said it was in final stage of due diligence to acquire 70 percent stake of South Kalimantan coal miner PT. Risna Karya Wardhana Mandiri (RKWM). The company also operates 14 sets of tug and barge which are used to transport coal throughout the country. (alex)