Indonesia’s Bayan signs 100 mn tonne coal deal with Indian firm

Indonesian coal miner Bayan Resources Tbk has signed a deal with India’s Universal Crescent Power Private Ltd to supply 100 million tonnes of coal over 15 years from 2015, the firm’s chief financial officer said on Friday.

“It’s an index linked contract based on the Newcastle index (and) is fully compliant with the minimum pricing regulation,” Alastair McLeod told Reuters. “It’s not a fixed price contract, and so it will vary every month on delivery of the contract.”