KPC formally appoints Mitsubishi Japan as marketing agent

Indonesia’s top coal mining concern PT Bumi Resources Tbk (Bumi) said on Tuesday that it had formally appointed trading powerhouse Mitsubishi Corp. as sole agent to market coal produced by its East Kalimantan subsidiary PT Kaltim Prima Coal (KPC) to Japan.

“Bumi had appointed Mitsubishi to market KPC’s coal to Japan,” said Ari Hudaya, president of both KPC and Bumi. Ari did not disclose the detail of the agreement, but earlier, a Bumi official said Mitsubishi would likely be given allocation to market 40 percent of KPC’s planned production of around 25 million tons this year and Mitsubishi would likely receive 5 percent fee for its services.

Bumi had also appointed Swiss-based trader Glencore AG to sell KPC’s coal to international market outside Japan.(godang)