Special Interview: Farlin seeks for coal concession in Kalimantan
Monday, August 20 2012 - 02:07 AM WIB
Singapore-based Farlin Energy & Commodities Group through its Indonesian subsidiary PT Visage Energy & Coal, is seeking to acquire coal mining concession in Indonesia after merely running coal trading business four more than four years.
The group?s coal trading business has been sustained by exclusive off take deals with five mines in Sumatra including two operated by the group.
Eric NG, General Manager of PT Visage Energy & Coal told CoalAsia that the total production in 2011 from all five mines was about 900,000 metric tons. Production in 2012 is projected to increase to between 1.5 million and 1.8 million tons.
Currently, PT. Visage Energy & Coal operates stockpiles for low, medium and high calorific value steam coals. The stockpiles are strategically located near a loading port ensuring logistical efficiency.
"However, in 2012, we expect to have coal mine concession because we want to move forward to become a coal miner rather than a trader," Eric said.
The company, Eric added, is seeking coal concession with high calorific value. "We are seeking concession with the resources having coal of above 6,000 kcal," he said. Eric said that he prefers to have a coal mine concession in Kalimantan.
So far the company exports coal from coal mines in Sumatra including in Lampung, Padang and Palembang under what Eric described as joint venture scheme. The majority of the coal was exported to India while the rest to China. ?We have a long term contract (with buyers) in India, so India absorbed about 90 percent of our coal,? he said.
Read the complete report in August edition of CoalAsia magazine.
Editing by Reiner Simanjuntak