GTB starts E. Kalimantan coal production
Tuesday, August 18 2009 - 06:33 PM WIB
IDX-listed coal miner PT Garda Tujuh Buana (GTB) has started production from its mine in Bunyu island, East Kalimantan this week, a company official said on Tuesday.
GTB Director Hari Purnomo told Petromindo.Com that initial production would be around 40,000-50,000 tonnes of coal per month.
He said production was delayed for months due to technical constraints.
He said the company would ramp production to 2-3 million tonnes next year.
GTB has signed a 5-year supply contract with annual volume of 1 million tonnes starting next year with Singaporean trading firms KTP Export Pte Ltd and Dynet International Pte Ltd, which pay US$12 for each tonne of the company?s low CV coal.(denny)