Antam eyeing E. Kalimantan coal mines acquisition

State-owned miner PT Aneka Tambang Tbk (Antam) said on Wednesday that it is looking at two coal mines as possible acquisitions to secure fuel supplies for its power plant.

"We are focusing on two coal-mining firms in East Kalimantan. We are now doing the due diligence," Alwin Syah Loebis, Antam's president director, told reporters.

He did not give further details.

Antam consumes about 200,000 tons of coal a year to power its ferro-nickel smelters, but annual consumption may rise to 2 million tons once the new power plant is completed, he said.

Antam plans to build a coal-fired power plant with a capacity of 2 x 75 megawatt to meet the rising electricity need for the company?s processing plant in Pomalaa, Southeast Sulawesi. (godang)