OKAS Secures Two Mining Contracts Worth a Combined USD 60 Million

PT Ancora Indonesia Resources Tbk (OKAS), through its subsidiary PT Kemitraan MNK BME (KMB), has secured two contracts to provide mining explosive solutions worth a combined approximately USD 60 million to support coal mining operations in Kalimantan.

The first contract is worth approximately USD 11 million and will support the operations of an international mining company in East Kutai Regency, East Kalimantan. The Company has once again been trusted as an explosives services provider after previously working with the company.

Meanwhile, the second contract is an extension of a cooperation agreement worth approximately USD 49 million with a mining services contractor operating one of the largest coal mines in South Kalimantan.

Both contracts run through 2029–2030, providing the Company with additional revenue visibility over the next several years.

OKAS President Director Ratno “Ale” Paskalis Hendrawan said the successful acquisition of the contracts reflects customers’ confidence in the Company’s operational capabilities and service quality.

“The successful acquisition of these two contracts demonstrates customers’ trust in our operational capabilities, safety standards, and the quality of services we consistently provide,” Ale said in an official statement on Thursday (Aug. 6).

According to him, the long-term contracts also strengthen the Company’s revenue prospects through 2030. Going forward, the Company will continue to expand its project portfolio by strengthening its capabilities, innovation, and strategic partnerships in the mining sector.

In intraday trading on Thursday (Aug. 6), OKAS shares rose 8.74%, or 9 points, to IDR 112.

Source: https://emitennews.com/news/okas-kantongi-dua-kontrak-tambang-totalnya-senilai-usd60-juta-2

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