Musi Mitra, Bumi Persada seal deals on hauling road
Tuesday, May 29 2012 - 02:29 PM WIB
IDX-listed coal miner PT. Atlas Resources Tbk said that its subsidiary PT. Musi Mitra Jaya has reached agreement with PT Bumi Persada Permai on the use of the latter?s coal hauling facility to transport coal from Musi Mitra mine in Palembang, South Sumatra.
The agreement was signed by the two companies on May 21.
Atlas currently operates 14 coal mines in East Kalimantan, South Sumatra and Papua and five mining hubs in Berau, West Kutai, Oku (Ogan Komering Ulu), Muba (Musi Banyuasin) and Papua with some 2.5 million tons of coal output in 2011.
Atlas targeted to produce 5.1 million tons by 2013, and further ramping it up to 9.25 million tons per year in 2015. The company would use most of its US$71 million capital expenditure to complete the construction of hauling road in its coal mining concession in South Sumatra.
Editing by Adianto P. Simamora