Samindo Secure Contract from Kideco and Bayan

Jakarta - An integrated coal mining services company in Indonesia, PT Samindo Resources (Tbk) announces an agreement with PT KIDECO Jaya Agung to continue the mining services contract.

The contracts for four subsidiaries are PT SIMS Jaya Kaltim (overburden removal and coal getting), PT Samindo Utama Kaltim (coal hauling), PT Trasindo Murni Perkasa (coal hauling) and PT Mintec Abadi (exploration drilling)

"Samindo's subsidiary until now has more than 15 years serving PT KIDECO Jaya Agung," said Zaki, Investor Relations Samindo Resources, through a press release received, Monday (20/11).

During managing KIDECO Jaya Agung mine, the company's four subsidiaries have done many innovations that have an impact on excellent performance.

Based on the agreement between Samindo subsidiary and PT KIDECO Jaya Agung, starting in 2018 Samindo's annual production target will increase every year. One of the agreed points is that the 2017 target will serve as the lower limit in calculating Samindo's annual target in the future.

Zaki said, the agreement can be ascertained in the next few years Samindo production target will continue to increase from year to year.

Apart from the contract with KIDECO Jaya Agung, Samindo has also secured a medium-term contract with Bayan Group for overburden removal and coal production activities. In 2018 the Bayan project will contribute significantly to Samindo's operational performance.

"Referring to the agreement with KIDECO Jaya Agung, we believe that starting in 2018 Samindo's production target will increase every year, because the target for the next six years should be higher than the target in 2017," he explained.

As for Zaki, it also hopes the Bayan project runs well in 2018 and can contribute positively to Samindo's operational performance.