State steel mill to set up mining subsidiary to secure supply
Wednesday, November 23 2011 - 03:51 PM WIB
IDX-listed state steel maker PT Krakatau Steel Tbk will set up a mining investment and trading subsidiary by year-end.
President Director Fazwar Bujang said as quoted by media that the company will be prepared to get involved in securing coking coal, iron ore and manganese supply for the company.
According to Fazwar, the company will need supply of 1 million tonnes of coking coal per year starting 2014, when construction of its new blast furnace completed in 2014.
The company will also require 1.92 million tonnes of iron ore per annum, he said. (*)