Nava Bharat to start Indonesian coal production

Indian firm Nava Bharat Ventures Limited will start production from its Indonesia mine next month with initial production of 30,000 tonnes per month, a company?s Indonesian unit official said.

General Manager Bob Sundram told Petromindo.com that the mine, which is located Sungai Danau, South Kalimantan will produce 1 million tones next year.

All production from the mine will be shipped to India to fuel the company?s power plant, he said.

According to him, the mine has reserves of 15 million tones.

Reports said the company bought 75 percent stake at the mine for US$18 million earlier this year. The company is also reportedly in process of acquiring 75 percent stake in another mine owned by the same company for $20 million. (denny)