Indo Wana to begin commercial production in April
Wednesday, February 18 2015 - 05:28 AM WIB
East Kalimantan coal miner PT Indo Wana Bara Mining Coal, which is indirectly controlled by IDX-listed PT Sekawan Intipratama Tbk, it expects to start commercial operation of its coal concession in April of this year.
?Currently, the company has completed the first phase of land acquisition of around 300 hectares, comprising of Pit Area 1 and 2, hauling road, stockpile and jetty, as well as office area, workshop, and basecamp,? Sekawan said in a statement Monday.
Indo Wana operates a 5,000-ha coal concession in West Kutai Regency, East Kalimantan, with estimated resources of 533.31 million tons, and reserves of 288.1 million tons.
In January of this year, Indo Wana signed amendment of coal sale and purchase agreements with three overseas buyers including Vietnam?s Bin Duong Corporation, Hong Kong?s Evertrade Ltd, and Asia Express Group Ltd for coal delivery starting this year through to 2020-2030.
Editing by Reiner Simanjuntak