Thiess gets $830m mining contracts from Bayan

IDX-listed coal mining group PT.Bayan Resources announced on Monday the signing of US$830 million Mining Cooperation Contract between its two mines and mining contractor PT.Thiess Contractors Indonesia.

Under the deal, Thiess will carry out mine planning, overburden removal, coal mining and coal transportation from mine to jetty for PT.Teguh Sinar Abadi (TSA) and PT.Firman Ketaun Perkasa (FKP) for 5 years with contract value of $610 million and $220 million, respectively.

TSA and FKP, which are holders of third generation CCoW operates mines in Melak, West Kutai regency, East Kalimantan with concession area of 5,838 hectares and 12,710 hectares, respectively..

TCI, a unit of Australian contractor Leighton Holdings Limited will mine maximum of 4 million tonnes per annum of coal from both mines and remove 40 million BCM of overburden per year. (denny)