Samindo renews contract with Kideco
Tuesday, November 21 2017 - 01:03 AM WIB
IDX-listed coal mining services company PT Samindo Resources Tbk said it has renewed contract with East Kalimantan coal miner PT Kideco Jaya Agung.
Samindo Investor Relations Manager Ahmad Zaki said in a statement on Monday that under the new contract, coal production is targeted to increase every year starting 2018.
The coal production this year will be used as the bottom limit in setting up annual coal production target going forward, he said.
The new contract will be implemented by Samindo?s four subsidiaries, namely PT SIMS Jaya Kaltim (overburden removal and coal production), PT Samindo Utama Kaltim (coal transport), PT Trasindo Murni Perkasa (coal transport), and PT Mintec Abadi (exploration drilling).
Samindo said that with the new Kideco contract, its coal production will continue to increase going forward. No further details were provided about the renewed Kideco contract.
Samindo has previously obtained medium-term contract from Bayan Group for overburden removal and coal production.
Editing by Reiner Simanjuntak