Lanna expands Indonesian coal mining ops
Wednesday, August 31 2005 - 07:02 AM WIB
Thailand's coal miner Lanna Resources Public Company Limited announced Wednesday that it has agreed to purchase 55 percent shares in PT. Singlurus Pratama (SGP) from an existing shareholder for US$ 5.3 million.
Singlurus holds the coal concession under a Coal Contract of Work (CCOW) in the Kutai Pasir and Balikpapan, East Kalimantan with area totals 21,466 hectares. The concession period of the granted
CCOW is a 30-year period, starting from the commencement of coal production.
According to the initial exploration, the mineable coal reserve is estimated at 25 million tons, with the average colorific values of 5,600-5,850 kcal/kg.
The coal production and distribution is expected by the middle of year 2007.
Lanna has two coal mines that are already in production in Kalimantan with output of around 2 MTPA.(alex)