Adaro?s coal mines acquisition talks almost complete
Thursday, June 23 2011 - 02:24 AM WIB
Indonesia listed energy firm PT Adaro Energy Tbk has almost completed acquisition talks to acquire coal mines in Sumatra and Kalimantan, the company?s official told Petromindo.Com.
?We are very close to a deal. Within a couple weeks we will acquire two coal mines in South Sumatra and one or two mine(s) in East Kalimantan,? the official said.
He refused to identify the mines, only saying the East Kalimantan mines do not belong to PT Bhakti Energi Persada (BEP) as recently reported by the media.
Currently, Adaro Energy has Indonesia?s second largest coal mine in South Kalimantan, PT Adaro Indonesia (AI). The mine, billed as the largest single site coal mine in the southern hemisphere, produces 42.2 million tonnes of coal in 2010, up from 40.6 million tonnes in the previous year.
AI is on track to achieve its production target of 46-48 million tonnes in 2011. (denny)