NTC ends coal supply deal with trading firm
Thursday, February 28 2013 - 02:41 AM WIB
Jambi coal miner PT Nusantara Termal Coal (NTC), a coal unit of Permata Energy Resources (PER), has ended a 2-year coal sales agreement with trading firm PT Muara Kenalu Prima Megah, an industry source told Petromindo.Com.
Under the deal, NTC agreed to deliver 30,000 tons per month with selling price of Rp 475,000 per ton, which was set to be expired in Dec. 2013. But, under the new owner, NTC ended the contract prematurely on Dec. 28, 2012.
On 12 December 2012 , PER, PT Permata Investa (PI), PT Permata Buana Makmur (PBM) and IDX-listed firm PT Gunung Agung Tbk (GA) entered into Shares Subscription Agreement. Under this agreement, GA purchased 480,000 units of PER?s new shares at Rp 480 billion. With the acquisition, GA became the new controlling owner of PER with 99.792 percent shares.
Coal from the company has CV 5,400-5,500 kcal/kg (GAR), with JORC reserves of 29.3 million tons. NTC mine is located in Rantau Pandan District, Muara Bungo Regency within an area of 2,832 ha.
Editing by Reiner Siamnjuntak