Golden Energy to acquire Kalimantan coal mine
Thursday, May 11 2017 - 05:43 AM WIB
IDX-listed coal mining company PT Golden Energy Mines Tbk (GEMS) plans to acquire a coal mine in Kalimantan, according to an industry source.
The source told Petromindo.com on Wednesday that the coal mine target has already been in operation, but did not provide further details.
According to company website, GEMS currently owns a combined 38,165 hectares of coal mine concessions spread in South Kalimantan, Central Kalimantan, and Jambi provinces, operated by subsidiaries namely PT Borneo Indobara (BIB), PT Kuansing Inti Makmur (KIM) and PT Trisula Kencana Sakti (TKS). The company unveiled last year its intention to acquire new coal mines in a bid to increase reserves.
Editing by Reiner Simanjuntak