Golden Eagle unit acquires shares coal firm, port operator
Tuesday, June 2 2015 - 04:02 AM WIB
IDX-listed PT Golden Eagle Energy Tbk said that its indirect coal mining subsidiary PT Internasional Prima Coal (IPC) had signed a share transaction agreement dated May 28, 2015 to acquire 34.17 percent stake in coal miner PT Tabalong Prima Resources (TPR) and 34.17 percent stake in coal port operator PT Mitra Hasrat Bersama (MHB).
Golden Eagle said in a statement Monday that the total transaction value of the acquisition is US$12.3 million.
Golden Eagle has an effective 39 percent stake in IPC through subsidiary PT Mega Raya Kusuma.
TPR holds a 3,145-ha coal concession in Tabalong Regency, South Kalimantan, with JOR resources of 292 million tons, and reserves of 109 million tons.
Meanwhile, MHB operates a coal port equipped with stockpile and jetty as well as conveyor system on a 60-ha area in South Barito Regency, Central Kalimantan. TPR operates integrally with MHB through joint ownership of coal hauling road linking the concession and the port.
Editing by Reiner Simanjuntak