Indo Tambangraya cancels Indominco underground coal project
Monday, March 28 2011 - 08:19 AM WIB
Indonesia-listed coal mining firm PT Indo Tambangraya Megah (ITM) said on Monday that it has cancelled underground mine project in its East Kalimantan coal miner PT Indominco Mandiri.
ITM's president director Somyot Ruchirawat said that land structure in Indominco is soft, makes the mine is impossible to develop further. ?We may conduct underground mine project in Trubaindo to replace Indominco,? he said.
In 2009, ITM has appointed Polish mining company Kopex SA to undertake the FS in Indominco on a prospect called Seam 13.
ITM, which is a unit of Thai Energy conglomerate Banpu PCL, has five subsidiaries including PT Indominco Mandiri, PT Trubaindo Coal Mining, PT Bharinto Ekatama, PT Kitadin and PT Jorong Barutama Greston. ITM is controlled by Thailand?s BANPU Plc with a 73.72 percent interest, and the remaining shares are held by investing public. (giok)