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BUMI to work with Chinese company on coal-to-methanol project
Publicly listed PT Bumi Resources (BUMI), Indonesia’s largest thermal coal miner, has reportedly signed an agreement with a Chinese company to develop a downstream coal project.
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Downstream projects: Equipment of coal mining company PT Arutmin Indonesia, a subsidiary of PT Bumi Resources, is pictured at a mining site in 2018. (Courtesy of arutmin.com/-)
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ublicly listed PT Bumi Resources (BUMI), Indonesia’s largest thermal coal miner, has reportedly signed an agreement with a Chinese company to develop a coal processing project.
Tri Winarno, the Energy and Mineral Resources Ministry’s coal and mineral mining director general, said the publicly listed company had signed a memorandum of understanding (MoU) with a China-based company during President Prabowo Subianto’s three-day state visit to China, which ended on Nov. 10.
“BUMI has signed with a Chinese company an agreement [for a] coal-to-methanol downstreaming project,” he said on Friday, as quoted by Bloomberg Technoz.
BUMI corporate secretary Dileep Srivastava confirmed the signing of the MoU but said he could not provide details about the plan, citing a “confidentiality clause in the agreement with the Chinese partner,” Bloomberg Technoz reported on Friday.
He said the cooperation, which aimed to help BUMI improve its capacity for downstream projects in the coal industry, was a strategic move for both companies and for Indonesia.
Read also: Govt approves five downstream coal projects
Previously, the energy ministry approved five downstream coal projects as a condition for mining firms to continue operating by having their coal mining business work agreements (PKP2B) changed into special mining business permits (IUPK).
