Hareda bags $85m mining contract from Bayan subsidiary
Thursday, July 29 2010 - 11:27 AM WIB
IDX-listed coal mining group PT Bayan Resources reported on Thursday that its coal mining subsidiary PT Perkasa Inakakerta (PIK) has signed a US$85 million mining contract with PT Hareda Prima Jaya.
Under the 5-year deal, which will be effective on August 1, 2010, Hareda will carry out 39.1 million bcm of overburden removal and mine 4.6 million tonnes of coal for PIK, according to the report filed with IDX on Thursday.
PIK mines for coal in East Kutai regency, East Kalimantan. (alex)