Indominco negotiating coal price with Tenaga
Monday, December 6 2010 - 01:45 AM WIB
Malaysian-state utility Tenaga Nasional Bhd. is negotiating price with East Kalimantan coal miner PT Indominco Mandiri, a coal unit of Indonesian listed firm PT Indotambang Raya Megah (ITM), for a supply of 1 million tons of coal next year.
Tenaga has 5-year contract to get 1 million tons of coal per annum from Indominco, which started in 2007, an industry source told Petromindo.Com last week.
?Every year, we are re-negotiating the price but not the volume,? the source said. This year, Tenaga bought Indominco coal at the average price of around US$90-94 per tons with calorific value of 6,000 kcal/kg (ADB).
Next year's price will be more or less similar than this year?s, the source said, adding the negotiation is expected to be completed before year-end. (denny)