Golden Energy?s KIM benefits from domestic coal market
Saturday, June 18 2016 - 03:14 AM WIB
A subsidiary company of IDX-listed coal firm PT Golden Energy Mines Tbk, PT Kuansing Inti Makmur (KIM), has benefitted from vibrant domestic coal market amid weak demand in the export market. KIM has long been supplying coal for domestic end users, such as paper mills and chemical plants in Sumatra.
?KIM has been supplying coal for paper mills and chemical plants in Sumatra since 1990 and the market in Sumatra is vibrant,? Golden Energy?s President Director Fuganto Widjaja said recently.
KIM and its subsidiaries in Bungo regency, Jambi province, produce 2 million to 2.2 million tons of coal, of which 90 percent is dedicated for the local market. KIM is one of few producing mining companies in Jambi, where many miners have to suspend their production due to low price environment and weak market demand.
KIM owns 2,610 hectares of concession with calorific value of 4,700 kg/kcal GAR and 27 percent total moisture, and 1.1 percent total sulfur contents. Golden Energy also has two other coal mine subsidiaries namely PT Borneo Indo Bara in Tanah Bumbu regency, South Kalimantan, and PT Trisula Kencana Sakti in North and Central Barito regencies, Central Kalimantan province.
Editing by Reiner Simanjuntak