Garda seeks buyer for its coal mine

East Kalimantan coal miner PT.Garda Tujuh Buana is offering its mine in Bunyu Island for sale, a company official said on Wednesday.

The company official, who declined to be named, said that currently there are five interested buyers approaching the company.

“We’re still consider their offers and we are still open for new interested suitors,” said the official, adding that the buyer’s name is expected to be announced late this month. The official did not give further detail.

The company’s mine has ceased production since early this year due to financial problems, the official said. In 2006, the company produced 300,000 tonnes of coal, some of which were exported to The Phillipines.

According to the official, the mine’s crushing facility and jetty could accommodate production up to 5-6 MTPA.

According to the official, Garda Tujuh Buana has reserves of 100-150 million tonnes in 2,000 hectares concession with CV ranging from 4,800 to 5,200 kcal/kg.

Contact person: Paulce D. Wenas, Director, Mobile: +62-0811856956. (denny)