UT, Noble settle renewed coal supply deal

IDX-listed heavy equipment distributor and coal miner PT.United Tractors Tbk. has settled mid-term coal supply deal with global commodity trader Noble Energy.

UT Corporate Secretary Sara Loebis told Petromindo.Com that under the renewed deal, UT will supply 180,000 tonnes of coal per month from August 2008 to end of 2010.

Meanwhile, Loebis said negotiation for renewed coal supply deal is also underway with coal trader Glencore AG for 2009/2010 supply. UT currently supplies 120,000 tonnes of coal per month to Glencore and Loebis said the volume would be unchanged in the renewed deal.

?UT is looking for more or less similar deal as with Noble,? she said.

UT sells its entire output of its South Kalimantan coal mining subsidiary PT. PT Dasa Eka Jasatama to Glencore and Noble through its British Virgin Island-based trading arm Scenic Worldwide Ltd. under term contracts. (denny)