JAKARTA (Indonesia Today) – New player in coal business PT Renuka Coalindo Tbk (SQMI) plans to increase its coal production to 5 million metric tons in 2016.
Shantanu Lath, SQMI’s finance director, said in a filing to stock exchange today that the company has now expanded its logistic for supporting the plan of boosting coal production.
“We are in talks with some companies in India and Indonesia for long term contract in planning additional production,” he said.
Shantanu added the company also plans to build new port near the mine mouth.??
Renuka’s coal mine is located in Sarolangun, Jambi. This mine is owned through its subsidiary PT Jambi Prima Coal.
Research from the Australsian Joint Ore Reserves Committee (JORC) finds that coal resources is expected to reach 120.3 million tends with coal reserves of 92.6 million tons. (hans@theindonesiatoday.com)