Oorja to finalize a new coal mine acquisition
Tuesday, October 18 2011 - 06:49 AM WIB
President Director of Oorja, K S Raheja told Petromindo.Com that currently Oorja is finalizing coal mine acquisition in East Kalimantan. ?We hope before end of this year, we have finalized this acquisition process,? Raheja said.
He refused to disclose the name of the mine to be acquired but mentioned that the mine is still in exploration phase with mineable reserve of more than 20 million tonnes.
?We will always seek for coal mine reserves of not less than 20 million tonnes, ones feasible to develop and the mines are preferred to be in Kalimantan,? he explained.
Earlier, Oorja has acquired a new coal mine owned PT Karya Putra Borneo (KPB) in Batuah, Loa Janan sub-district, Kutai Kartanegara regency. KPB mine is still in exploration phase.
KPB mine is expected to start production in Q1 2012 with initial production of 100,000 tonnes per month which will increase to 3 million tonnes per year and further increased to 5 million tonnes in upcoming years, said Raheja.
Currently Oorja has a coal mine in Petangis, Tanah Grogot regency, East Kalimantan with coal output of 1 million tonnes per year.
From trading activity, Oorja purchases coal from third parties's mines in East Kalimantan, South Kalimantan as well as from Sumatra. Oorja purchased approximately 5 million tonnes of thermal coal in 2010 which is expected to increase to 6 million tonnes this year, Raheja elaborated. (denny)