Mitrabara gets new contractor for Malinau project
Friday, November 21 2014 - 01:24 AM WIB
IDX-listed coal mining company PT Mitrabara Adiperdana Tbk said that it has signed new mining services contract and equipment leasing contract with PT Kalimantan Prima Persada for the Malinau concession in Central Kalimantan.
The company said in a filing with the Indonesia Stock Exchange Thursday that the contracts were signed with Kalimantan Prima on September 30, 2014 to help meet this year?s production target.
The announcement came after the previous contractor for the Malinau project, IDX-listed mining services firm PT Darma Henwa Tbk stated Wednesday that it has stopped the operation at the Malinau project as it is no longer deemed economically feasible to be further developed. Darma Henwa said that the mining services contract and equipment leasing contract for the Malinau project have been terminated.
Mitrabara operates coal concessions in Malinau Regency, North Kalimantan. The company hopes to produce 2.5 million tons of coal this year, and plans to increase it to 4 million tons next year.
Editing by Reiner Simanjuntak