Tuesday, March 30, 2010

Subhash Projects starts Indonesian production

Subhash Projects & Marketing, India's Kolkata-based infrastructure company, will start commercial production of coal from its block in Indonesia in April, chief operating officer Rishabh Sethi said.

The company had begun mining at the PT Bism mine in December. “We were waiting for the barge load conveyors to be readied,” he said. The conveyors are used to move the coal to a barge which then takes it to the buyer.

The company plans to initially sell its coal locally and then export it to Asia. “We are looking at mining about 50,000—60,000 t a month initially,” Sethi said. SPML is looking at mining 3 Mt/y at a later stage.

The mine, which SPML bought with power equipment maker Emco in 2008 for $40 million, has reserves of over 100 Mt. SPML holds 55% and Emco the rest. Both the companies will invest about $4-5 million in the mine in 2010-11.

No comments: