PCN secures 1.4 million ton coal sales contracts

By Cepi Setiadi

Newly-producing coal mining company PT Prolindo Cipta Nusantara has secured sales contracts for a total of 1.4 million tons of coal scheduled for delivery from December 2013 through March 2014.

President Director Henry Soetio told Petromindo.com on Tuesday that 70 percent of the volume will be delivered to China and the rest to India.

Henry said that the company has just started production this month, and is expected to produce up to 120,000 ton throughout the month.

?Initially we expected to produce up to 200,000 tons this month but due to the weather condition, we might be only able to produce about 120,000 tons,? he said adding all the first month?s output is to be delivered to India.

He said the company expects to produce up to 200,000 tons in December 2013 and will ramp up the output to 300,000 tons per month starting in January 2014.

The company?s concession is located at Sebamban subdistrict, Angsana district, Tanah Bumbu regency, South Kalimantan. The concession, measuring about 360 hectares. has an estimated 25 million ton coal reserve.

Editing by Johannes Simbolon