Mining Business
On July 27, Hanwha Corporation signed a mining service contract with SIMS to provide industrial explosives, blasting and so on for 30 months at the GBPC mine in Kalimantan, Indonesia.
Earlier in 2012, Hanwha Corporation entered the KIDECO mine in the same region. The contract it signed last month is the first such contract in Indonesia since then. The recent contract is expected to play a very important role as Hanwha Corporation is increasing the number of its clients in Indonesia.
In May this year, the corporation concluded a mining service contract with NBI, too. The duration of this contract is eight years. NBI is one of the subcontractors running the KIDECO mine. The contracts with NBI and SIMS are expected to contribute to local client management and the efficiency of Hanwha’s explosives manufacturing facilities in Indonesia. The company put into operation its industrial explosives manufacturing facilities in the country in 2014 for direct supply of the products.
The total value of Hanwha’s mining service contracts amounts to approximately 50 billion won (US$45 million) in Indonesia alone. The company is planning to expand its business to the other Southeast Asian countries, Australia, Chile and so on down the road.