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Geo Energy signs US$500M overburden removal contract for Tanah Bumbu coal mine

Geo Energy Resources Ltd. tapped Indonesian mining services company PT Bukit Makmur Mandiri Utama, or BUMA, to provide overburden removal for its Tanah Bumbu coal mine in Indonesia.

The contract will run for the life of the mine and will have an estimated value of over US$500 million, according to a March 7 release.

BUMA has been the mining services provider for the company's PT Sungai Danau Jaya, or SDJ, mining concession since June 2015.

The site preparation and overburden removal is scheduled to start this month, and the first coal production is expected in the second quarter.