Golden Energy to acquire coal mine in Kalimantan

By Thomas Sembiring

Petromindo

IDX-listed coal firm PT Golden Energy Mines Tbk (GEMS) plans to acquire a coal mine located in Kalimantan as part of expansion program.

GEMS President Director Bonifasius told Petromindo.com on Tuesday the company hopes the acquisition to be concluded next year.

He said that the company was currently studying the commercial terms of the planned acquisition. He did not provide further details, saying only the targeted coal mine is a greenfield asset.

Editing by Reiner Simanjuntak