JAKARTA (Indonesia Today) – PT Hanson Energy, unit of PT Atlas Resources Tbk (ARII), had in Sept 3 signed coal sale and purchase agreement with state utility PT Perusahaan Listrik Negara (PLN) and PLTU Banten (Teluk Naga).
Under the agreement, Hanson Energy will supply 429,000 tons of coal with low calorie per year to PLN.
The coal supply agreement will run for 20 years, until 2031. PLN has option to add coal supply from Hanson Energy by up to 20%.
Atlas Resources booked revenue of US$43.58 million in the first half of 2012 while net profit dropped 64.4% to US$847,000.
The company has 16 coal mining concessions with 195,000 hectares area in total. (hans@theindonesiatoday.com)