Timah?s coal unit almost fully contracted in 2005
Tuesday, February 15 2005 - 07:15 AM WIB
State tin miner PT. Timah said on Tuesday its coal mining unit had bagged three contracts that would take up to 90 percent of its 2005 planned production capacity.
Timah president Thobrani Alwi told reporters that its South Kalimantan coal subsidiary PT. Tanjung Alam Jaya had signed 300,000 metric tones of coal with South Korean firm LG, another 300,000 metric tones with Japan trading house Mitsubishi. Another 300,000 metric tones contract, said Thobrani, was signed with trader Noble Energy. All are for 2005 shipments
Thobrani said LG and Noble energy shipments would commence May.
Thobrani said Tanjung Alam Jaya would produce 1 million tons in 2005.
He further said the company had finally decided to drop term contract talks with trader Glencore AG after he considered the latter?s asking price as ?too low?. (godang)