Sinarmas? unit in coal supply deal with Oorja

Coal miner group PT Golden Energy Mines (GEMS), a unit of Sinarmas Group, has clinched a deal with Oorja, a unit of Indian shipping firm Mercator Lines, for the supply of five handymax cargoes of coal for this year, the company?s official told Petromindo.Com.

GEMS has shipped two handymaxes of coal and will ship the remaining three cargoes in the rest of this year, the official said without giving further details.

GEMS has several coal mines in Muara Bungo, Jambi province under its unit PT Kuansing Inti Makmur (KIM) and PT Borneo Indobara (BIB) in Tanah Bumbu regency, South Kalimantan (CCoW holder) and PT Manggala Alam Lestari (MAL) in Musi Banyuasin, South Sumatra

GEMS has targeted to produce 10 million tonnes of coal from BIB and KIM mines for this year and is targeting to produce around 20 million tonnes of coal from the three mines in 2013. Last year, the company produced only 2.5 million tonnes from BIB and KIM mines.

MAL is still in exploration stage and it expects to start production in 2012 with initial coal production of 1 million tonnes. (denny)