Renuka signs coal offtake deal with Jambi coal miner
Monday, June 5 2017 - 08:27 AM WIB
By Thomas Sembiring
IDX-listed coal trading firm PT Renuka Coalindo said it has signed deal to offtake low CV coal from Jambi coal miner PT. Gea Lestari.
CEO Santanu Lath told Petromindo.Com on Monday that it has paid the latter down payment for undisclosed volume and price.
Lath, said Renuka will start to buy coal from to be shipped to its customer in India once it has secured trading and transportation license from the government of Indonesia.
Renuka has just transformed from coal miner to coal trader after it sole its mines in Jambi late last year.
Gea Lestari operates an open pit mine in Muaro Jambi regency.
Editing by Alexander Ginting