Bayan to acquire 3 greenfield in Kutai Kartanegara

By Hiski Darmayana

IDX-listed coal miner PT Bayan Resources Tbk., said that the company is still waiting approval from Kutai Kartanegara administration on the ongoing acquisition talks on three Greenfield concessions in the regency.

?We hope the administration could give approval soon,? President Director of Bayan Resources Eddie Wai Fong said.

He said that the three concessions having reserve of about 300 million tons were expected to commence production next year.

Bayan earlier stated it expects to produce 20 million tons this year, from 15 million tons in 2011.

Editing by Adianto P. Simamora