The Jakarta Post reported that publicly listed energy company PT ABM Investama through subsidiary coal miner PT Reswara Minergi Hartama, has sealed a long term sales and marketing agreement with AVRA Commodities Pte Ltd.

ABMM informed the Indonesia Stock Exchange that “The deal, for 15 million tonnes with a term of July 2012 to July 2017, was signed in Jakarta on July 13.”

Under the agreement, AVRA Commodities will have the exclusive right to market and sell thermal coal produced by Reswara subsidiary PT Tunas Inti Abadi to selected buyers in China, the Philippines, Taiwan and Thailand.

As of the end of June, Reswara has secured sales contracts for 3.5 million metric tonnes, or about 80 percent of its 2012 sales target of 5.5 million metric tonnes.

Source - The Jakarta Post

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