JAKARTA – PT Petrosea Tbk (PTRO) recently signed an amendment of the term sheet of mining service agreement with PT Pasir Bara Prima (PBP), a subsidiary of PT Singaraja Putra Tbk (SINI), last Wednesday (3/7).

This mining service contract amendment will apply to the project of over burden removal and coal mining in PBP’s mine in Kapuas, Central Kalimantan.

“The duration of the project will be extended to life of mine,” said the management in the official release of PTRO today (5/7).

PTRO also reveals that the estimated value of this contract extension reaches USD 1.08 billion, with target of over burden bumped up to 415.4 million BCM, while coal production increases to 52 million tons.

The management of Petrosea mentioned that this contract is the company’s strategy of business expansion to Kalimantan.

“Petrosea will continue to improve its capability in providing integrated and innovative mining services by prioritising operational excellence supported by the utilisation of current digital technology solution,” concluded Iman Darus Hikhman, Mining and Mine Services Director of PTRO, in the official release. (ZH)