Delta Samudera delays coal production, seeks new investor

By Edgar Subroto

East Kalimantan coal miner PT Delta Samudera is expecting to further delay its first commercial production to 2013 as it seeks for a new partner to develop the mine, an industrial source told Petromindo.Com.

The delay is caused by infrastructure problems, the source said, adding that the owner of the mine is also considering to put the mine on sale to a new investor, without giving further details.

Based on Petromindo.Com data, the mine is linked to PT Benakat Mining, a coal mining unit of IDX-listed PT Benakat Petroleum Energy Tbk, which owns a 27.43% shares in PT Java Mitra Sentosa (JMS), which in turn owns PT Delta Samudera.

According to Benakat?s website, Delta Samudera owns a coal concession of 9,364 hectares in Nyuatan, West Kutai, East Kalimantan. Currently, Delta Samudera is in the exploration stage and planning a road to transport the coal. The coal reserves are estimated at 45 million tons with a calorific value of 5,011-5,932 Kcal/kg (ADB).

In August 2011, PT. Benakat Mining?s ownership in JMS was reduced to only 27.43% from originally 91.43 %.

Editing by Reiner Simanjuntak