Pama might get coal mining contract extension from MHU
Wednesday, September 21 2005 - 08:13 PM WIB
Top mining contractor PT.Pamapersada Nusantara is in talks with troubled East Kalimantan coal miner PT.Multi Harapan Utama (MHU) to extend mining contract which will expired by the end of this year, according to an official.
Pamapersada senior official Ridwan Pohan told Petromindo.Com on Wednesday that the contract might be extended for another 3 years with increased production volume of up to 2.5 million tones per annum. Currently MHU is producing below 2 MTPA.
The government cancelled plan to revoke MHU?s mining license after the company paid some of its royalty arrears and promised to make installment to the government.
MHU?s shareholders are reportedly in talks with a Malaysian company to sell its shares in the company. (alex)