Atlas Resources to hold IPO soon
To boost coal output to 10 MT in 2014-2015
Monday, September 26 2011 - 03:20 AM WIB
The company plans to sell 17% of its shares to the public, targeting to do the initial listing by fourth quarter of this year. The company has appointed UBS Securities and Indo Premiere Securities as the IPO underwriter.
The company?s parent director, Aulia Setiadi told Petromindo.Com that Atlas Energy will boost its coal output to 4 million tonnes (MT) of coal next year, from this year?s target of 1.5 million tonnes.
The additional coal output for next year will come from its South Sumatra coal mines, where the company has 8 coal mines located in Musi Rawas and Musi Banyuasin regencies. ?For the first coal production, the company will start from two mines, starting early next month,? Aulia said.
Initial production from the two mines are expected to produce around 100,000 per month with calorific value of 4,000 kcal/kg (GAR) with total moisture 30-35%, Aulia said.
The company has a total of 16 coal mines comprising of 8 coal mines in South Sumatra, 6 coal mines in East Kalimantan and 2 coal mines in Mamberamo regency, Papua.
The company is expecting to boost further its coal output to 9-10 million tonnes per annum in 2014-2015.
The company is seeking potential coal buyers. For further information please contact: marketing@atlas-coal.co.id. (denny)