PTBA, China?s CNTIEC resume coal mining talks

State owned coal mining company PT Bukit Asam (PTBA) and China National Technology Import Export Corporation (CNTIEC) will resume their negotiations over the two companies? plan to cooperate in the development of an underground coal mine in Ombilin, West Sumatra, Bisnis Indonesia reported on Friday.

PTBA?s corporate secretary Milawarman said in Jakarta on Thursday that the two companies would also discuss the Chinese company?s plan to provide funds of about US$62 million in the negotiation which would be held in Jakarta next week.

?After being halted for some time due to SARS problem, the negotiations will be resumed again next week,? he said.

PTBA would propose the Chinese company to provide all of the funds needed to develop the underground coal mine during the talks, he said, adding that the project is estimated to cost some US$62 million, he said.

Milawarman said that PTBA would also propose the Chinese company to act as an investor in the development of the Ombilin underground coal mine. The Chinese company should also sell their coal to PTBA, he added. (*)