Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) is eyeing new contracts for 500,000 tons coal sales both from China Steel Corporation and its affiliates Dragon Steel and group of Japanese steel buyers.
"We hope to get coking coal sales contract from both buyers for about 500,000 tons per annum each," said Borneo Marketing Director Kenneth Raymond Allan said.
For the last three months of this year, Borneo has entered into agreement with China Steel to supply 166,000 tons. Allan said the company expects US$200 per ton of coal sales price could be secured next year. "Following the three months contracts, we will talk about 1 or 2 year contracts with China Steel," he said.
Disclosure: No position at the stock mentioned above.
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