Medco to ship 30,000 tons from Nunukan end of May

By Hiski Darmayana

IDX-listed oil and gas company, PT Medco Energi International Tbk said that the company would ship 30,000 tons of coal at the end of May as part of its ongoing negotiation on sale contract with a foreign buyer.

Medco expected the negotiation on sale contract to complete before the shipment.

?The negotiation is still underway but we hope to make the first shipment of 30,000 tons by the end of this May,? Medco President Director Lukman Mahfoedz said without elaborating any further.

Medco commenced coal production in its PT Duta Tambang Rekayasa mine in Nunukan, East Kalimantan in February.

The company targeted to produce about 330,000 tons of 6,800 kcal/kg cv coal this year.

Medco?s subsidiary Medco Energi Mining International (MEMI) acquired two mining concessions Duta tambang Rekayasa and PT Duta Tambang Sumber Alam ? both are located in Nunukan with the total resource of 16 million ton.

Editing by Adianto P. Simamora