Courtsey news via Theindonesiatoday.com
PT Bukit Makmur Mandiri Utama (BUMA) Tbk, a subsidiary of Delta Dunia Makmur (DOID), has secured an up to US$500 million coal mining contract from PT Berau Coal.
DOID told stock market authorities that BUMA secured the contract from PT Berau Coal (BRAU) Tbk, parent company of PT Berau Coal for its Pit East 2.
Under the contract, BUMA shall remove overburden of up to 226 million BCM and mine coal of 20.7 million tons. The contract was signed December 27, 2010. Effective March 2011, the contract will end in five years time with estimated value of between US$400 million to US$500 million. Other than the new contract, BUMA also has other contracts with BRAU with maturity in 2018.
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