Ratu Prabu to start works on Nusantara Energy mine in June

By Hisky Darmayana

IDX listed Ratu Prabu Energy Tbk has stated that following the cooperation deal signed last month, it will commence works as mining contractor on concession area of PT Nusantara Energy next month.

Ratu Prabu will be responsible for all the mining works, including stripping, transporting, and also sales of the coal following Nusantara's recent acquirement of IUP production operation for the concession.

"We will start with field infrastructure work, such as construction of hauling road and base-camp this June, followed by mining operation," said Ratu Prabu President Director Bur Maras in Jakarta.

Located in Berau Regency of East Kalimantan, Nusantara's concession covers 4,700 hectares of land with recorded 75 million tons of reserve of coal with cv between 5,000 and 6,500 kcal/kg.

Operational costs will be covered by bank loans and fund obtained from the company's right issue planned to take place mid this year.

Ratu Prabu Energy, established back in 1993, is known as one of the production services companies in oil and gas as well as mining . In addtition to coal mining, the company also provides production services for gold mines.

Editing by Er Audy Zandri