Eksploitasi seeks partner to develop C. Kalimantan coal mine

By Thomas Sembiring

IDX-listed coal mining company PT Eksploitasi Energi Indonesia Tbk is looking for a partner to develop its coal concession in Kotawaringin Timur, Central Kalimantan.

?We have yet to move (to develop the mine). We?re waiting for partner,? said Corporate Secretary and Head of Investor Relations Wim Andrian said Tuesday.

The 2,271 hectares Kotawaringin Timur coal concession is owned by Eksploitasi?s subsidiary PT Sri Rahayu Indah (SRI). The concession has low rank coal, with an approximate calorific value (gar) of 4,200 kcal/kg, with low sulphur (0.20%) and ash content (below 5%).

The lingering drop in coal price has caused many miners to suffer financial difficulties, hampering them from financing production activities or expansion.

Wim said that Eksploitasi initially intended to use the coal from the Kotawaringin Timur concession as feedstock for a planned mine mouth power plant.

Editing by Reiner Simanjuntak