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.