JAKARTA, Dec 3 - Indonesian coal miner PT Bumi Resources Tbk (BUMI.JK) said on Thursday it is in talks to be the exclusive marketing agent for coal produced by unlisted coal miner Berau Coal.
Bumi, which is controlled by the politically connected Bakrie group, is discussing the deal with investment firm Recapital Advisors, which recently acquired a stake in Berau Coal, the country's fifth-largest coal producer.
"We want to do the marketing, to be the exclusive marketing agent," Bumi's Chief Financial Officer, Andrew Beckham, told reporters. "We can market the coal if they want, if the discussions are favourable."
He added that the coal may be marketed to India and China as the two countries are the biggest markets at the moment.
"There will be some domestic, but they've already got domestic contracts. And you have to understand, they have contracts that they must honour," said Beckham.
He declined to disclose the details of the arrangement.
Indonesia is the biggest exporter of thermal coal and is a key supplier to North Asia, India and increasingly China.
Bumi, which is controlled by the politically connected Bakrie group, is discussing the deal with investment firm Recapital Advisors, which recently acquired a stake in Berau Coal, the country's fifth-largest coal producer.
"We want to do the marketing, to be the exclusive marketing agent," Bumi's Chief Financial Officer, Andrew Beckham, told reporters. "We can market the coal if they want, if the discussions are favourable."
He added that the coal may be marketed to India and China as the two countries are the biggest markets at the moment.
"There will be some domestic, but they've already got domestic contracts. And you have to understand, they have contracts that they must honour," said Beckham.
He declined to disclose the details of the arrangement.
Indonesia is the biggest exporter of thermal coal and is a key supplier to North Asia, India and increasingly China.
