Bayan Resources has awarded a $500m contract to Thiess Group subsidiary PT Thiess Contractors Indonesia, extending its existing contract by three years for the further development and operation of mines in Indonesia.
Theiss will continue to carry out development and operations at the Teguh Sinar Abadi and Firman Ketaun Perkasa coal mines, near Melak in East Kalimantan.
As part of the extension, Bayan Resources is expected to increase the production target to five million tons per annum.
Thiess Indonesia president and director Roy Olsen said that the firm would participate in the expansion of the Melak coal mines as a key contributor to the Bayan Group’s coal operations in Indonesia.
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