Timah in talks with Mitsubishi on term coal supply
Tuesday, September 7 2004 - 08:02 AM WIB
State tin miner PT Timah said its coal-mining subsidiary is in talks with Japan energy trader Mitsubishi to supply 300,000 tons of coal in 2005 to the latter.
?MoU on the coal supply had been signed with Mitsubishi last week, but the price is not fixed yet,? said Timah director of finance Wachid Usman. He said negotiation is expected to be concluded within one month.
He also said Swiss coal trader Glencore AG had ordered one trial cargo of 30,000 for unspecified delivery.
Timah controls East Kalimantan based coal-mining firm PT. Tambang Alam Jaya. Which is expected to produce 800,000 tons of coal next year. (godang)