Ancora eyeing Kalimantan coal mines acquisition
Wednesday, December 10 2008 - 02:38 AM WIB
IDX-listed mining-energy investment firm PT.Ancora Indonesia is eyeing acquisition of coal mining projects in East and South Kalimantan.
CEO Usman Hassan was quoted by Investor Daily as saying that the company is currently conducting due diligence and the acquisition would be completed in the first quarter of next year.
He did not give detail about the target mines.
The company has just completed acquisition of 40 percent shares of explosive maker PT.Multi Nitrotama Kimia for Rp.120 billion. (*)