Samindo Resources Gains Long Term Contract of Bayan Resources

By : Aldo Bella Putra | Wednesday, July 26 2017 - 07:34 IWST

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INDUSTRY.co.id - Jakarta, PT Samindo Resources Tbk (MYOH) through its subsidiary PT SIMS Jaya Kaltim (SKJ) is awarded a long-term contract from PT Gunungbayan Pratamacoal, a business entity of PT Bayan Resources Tbk (BYAN).

"We are intensifying to look for new opportunities outside of existing clients to expand the market," said Samindo Zaki Investor Relation through IDX information disclosure on Monday (15/05/2017). ).

Zaki added it is possible in the future the contribution of MYOH in Bayan Group continues to increase. Currently, the management is reviewing the various potentials that can be worked on by the company.

"This contract will be the starting point of MYOH's strategy to develop the market from existing business and also motivate to continue to maintain good relationship with Bayan Group," he said.

This two-and-a-half year contract is for overburden removal and coal production activities.

Based on the timeline set by both parties, kick off of the project started in early July 2017. Currently, SJK is looking to mobilize equipment and base camp development and it is expected that by the end of June all the preparations will be completed so that the project can be rolled out on schedule.

This automated agreement will provide additional volume of cover rock and SJK coal.

Under the contract, up to 2019 the total SJK will receive an additional 14.7 million bcm cover and 1 million tonnes of coal. (Hry / Imq)

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