India Cements? unit to start coal production next year
Friday, November 25 2011 - 02:38 AM WIB
The official said that the company is targeting around 600,000 tonnes of coal in the first year, and will gradually ramp-up in the next couple years, without giving the figures.
Coromandel has just acquired the mine in Tanah Bumbu regency, under IUP holder of PT Mitra Setia Tanah Bumbu. The calorific value of the coal is 5,500-5,300 kcal/kg (ADB), the official said.
The company is still looking for more mine acquisition, including the mine is still Greenfield, the official added.
Last week, The India Cements Limited, an Indian cement maker has spent US$5 million to purchase 70.11 million ordinary shares of CMPL, representing 99.99 percent of CMPL?s outstanding share. As a result of the share purchase, CMPL becomes subsidiary of Cement India.(denny)