Astra eyeing comeback into coal mining business
Saturday, September 9 2006 - 02:15 PM WIB
CEO Michael Ruslim said the company is eyeing mines with minimum CV of 6,000 Kcal/kg and located not to too far from loading port. He did not give further detail. Two years ago the company was also declared its intention to enter mining business, but thus far, it had failed to acquire a single mine.
Astra had already had grip in mining support industry through its mining contractor subsidiary PT. Pama Persada Nusantara, which is currently the country?s top coal contractor. Astra?s other subsidiary PT. United Tractors (UT) is significant supplier of mining heavy equipments.
Malaysian new agency Bernama recently reported that Pama had make offer to acquire Tenaga Nasional?s coal mine in South Kalimantan.
Astra, through UT, sold its 60 percent stake in East Kalimantan miner PT. Berau Coal in 2004. (*)