Hanwha wins mining deal in Indonesia
Hanwha Corp. has signed a contract to supply industrial gunpowder and other mine blasting materials to an Indonesian mining firm that is developing a coal mine capable of producing 10 million tons annually.
The country’s largest defense firm said Monday it signed a supply contract with SIMS, an Indonesian firm that mines coal at Gunung Bayan Pratama Coal in the Eastern Kalimantan region.
Under the contract, Hanwha will provide blasting materials as well as its mining knowhow for two and a half years.
In May, the company also sealed a similar deal with NBI, a local mine developer taking part in the Korea Indonesia Development Company (KIDECO) project, for eight years.
In 2012, Hanwha first entered the Southeast Asian nation when it signed its first supply contract with SIMS, which was also involved in the KIDECO scheme. Under the project, Korean mining firm Samtan and Indonesian miners have been jointly developing Pasir Mine, which is capable of churning out 32 million tons of coal.
Since 2014, Hanwha has been operating a plant that produces industrial gunpowder and other mining materials in the Southeast Asian nation.
“The latest deal proves that our products and expertise have been recognized by mine developers in Indonesia,” Hanwha Corp. CEO Choi Yang-soo said.