Garda Tujuh Buana to increase coal output
Tuesday, February 19 2013 - 02:12 AM WIB
IDX-listed coal miner PT Garda Tujuh Buana expects to ramp up its coal output to 4-4.5 million tons of coal for this year, up from last year?s total production of 2.8 million tons, a company official told Petromindo.Com.
About 3-3.5 million tons from the targeted output for this year will be supplied to its marketing right agent named Agrocom Ltd, which holds a 3-year contract, starting July 2012, the source said.
According to Garda, Agrocom agreed to pay the coal under fixed price of US$39 per ton. The calorific value from Garda mine is 4,471 - 4,800 kcal/kg (ADB) with high total moisture
The mine is known to hold an IUP permit valid until 2021 for a coal concession in Bunyu island, East Kalimantan with a proven reserve of 92 million tons of low rank coal.
Editing by Reiner Simanjuntak