Clough lands Indo contract

CLOUGH subsidiary PT Petrosea has signed a $US250 million contract to mine the Santan Batubara coal concession in East Kalimantan, Indonesia.
Clough lands Indo contract Clough lands Indo contract Clough lands Indo contract Clough lands Indo contract Clough lands Indo contract

Gunungbayan Coal Project, East Kalimantan. Courtesy Clough.

Angie Tomlinson

The concession is owned by PT Santan Batubara, a 50:50 joint venture between Clough’s 82%-owned PT Petrosea and PT Harum Energy Indonesia.

The five-year contract is for the overburden removal, coal recovery and loading at Santan’s Separi mine.

The contract is the latest in a line of Clough contracts in Indonesia, with the contractor also announcing in October that Petrosea had signed a $US300 million, five-year contract extension for overburden stripping for PT Gunungbayan Pratamacoal.

A subsidiary for Bayan Resources, PT Gunungbayan Pratamacoal first awarded Petrosea the contract in 1999 and at the time it was the company’s largest contract.

Clough was trading up 5% at 31.5c mid-afternoon today.

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