Sekawan seeks investor to help develop E. Kalimantan coal mine
Thursday, November 23 2017 - 12:57 AM WIB
Petromindo|Khalsa
IDX-listed PT Sekawan Intipratama Tbk said on Wednesday it is seeking for investor to help develop and produce coal at its mine in East Kalimantan Province, owned by subsidiary PT Indowana Bara Mining Coal, with an off-taker scheme.
The company said in a statement it hopes to start maiden production in February of next year, with initial production target of 30,000 tons per month and will gradually increase to 100,000 tons per month after three months. No further details were provided.
The company said in July that it hoped to start production in October of this year. In September, Sekawan said that the October target could not be realized as it has yet to be able to select suitable mining contractor.
Sekawan owns 90 percent of Indowana, which owns a 5,000-ha coal concession in West Kutai Regency, East Kalimantan, with coal resources estimated at 533.31 million tons, and reserves estimated at 288.1 million tons.
Elsewhere, Sekawan reiterated its plan to develop a mine mouth coal-fired power plant with a capacity of 2x100 MW at the Indowana mine, and said it is also looking for partner for the project. In July, the company said it was seeking to partner with a subsidiary of state-owned electricity firm PT PLN.
Editing by Reiner Simanjuntak