Barito eyeing coal mine business

JSX-listed forestry products firm PT.Barito Pacific Timber said it was looking to expand business into coal mining.

The company said in a report filed with the JSX on Thursday that it was currently scouting for several coal mines in Kalimantan, but thus far unable to acquire projects due to inadequate reserves or lower CV of the mines it had scrutinized.

The company indicated it was considering to carry out corporate actions for this year, but fail short to explain whether the action would include coal mine acquisition.

Barito is controlled by tycoon Prayogo Pangestu, a close business ally of former dictator Soeharto. (alex)