Morlison signs MoU with China Coal Solution

By Romel S. Gurky

Singapore based Morlison International Resources Pte Ltd announced on Tuesday that its Indonesian subsidiary PT Tenaga Resources has signed a Memorandum of Understanding (MoU) with China Coal Solution Pte Ltd to cooperate in marketing thermal coal from Indonesia as well as in coal related business opportunities in the country.

This partnership will bring multiple synergies from mining all the way to delivery to the end users. Furthermore, the two companies agreed to a co-branding and thus will jointly offer thermal coal to third parties in markets such as China, India, Southeast Asia under the name TR-CSS, the firm said in a statement.

The first cargo of Tenaga Resources GAR4200 coal started loading on May 10, the firm said.

"We are starting a healthy partnership with an elite company in the coal trading and logistics space. Our relationship will be based on mutual respect and share of a common vision of sustainable growth and higher profit margins, to make our respective companies the best in our field. Morlison is excited about the next steps and will support this effort with all its power," Thariq Mahmud, CEO of Morlison International Resources said.

Morlison International Resources Pte Ltd is the parent of PT. Multi Energy Sumber Artha, a well established integrated logistics, mining and trading group which has been operating in Indonesia since 2008. Through its subsidiaries, Morlison is mining and trading approximately 1 million metric tons of Indonesian thermal coal per year, with a view of expanding to 2 million metric tons by 2015 through the development of its own assets in East Kalimantan

Editing by Johannes Simbolon