Hanson seeks partner to develop coal mines

IDX-listed textile maker PT Hanson International Tbk, is seeking a partner to develop the coal mine concessions owned by its subsidiary PT Hanson Energy in South Sumatra.

Hanson International?s Investor Relation Irwando Saragih said in Jakarta on Friday that several investors from China, India and Singapore had expressed interest in cooperating with the company and ?they are now under the tight selection.?

The future partner may either take a participating interest in PT Hanson Energy, or provide capital that would be compensated with the sale of coal, he said.

Meanwhile, Hanson International's Director Socrates Rudy Sirait said on Friday that the company was now awaiting the assessment results of the mines' reserves from the Joint Ore Reserves Committee (JORC).

The two concessions are located in Martapura, the captial of East Ogan Komering Ulu regency, and Baturaja, the capital of Ogan Komering Ulu regency.

According to Socrates, the mine in Martapura is estimated to have low rank coal deposit of 200 million. ?JORC is expected to verify the proven reserve in Martapura and Baturaja,? he said.

Currently, Hanson International has 10 percent stake in PT Hanson Energy and the company is trying to change its core business into coal with the acquisition of all shares in Hanson Energy.

In a previous report to Indonesia stock exchange, Hanson International said the Martapura mine covered 10,000 hectares of land in East Ogan Komering Ulu, with mineable reserves of 46 million tons. It has commenced mining on an area of 500 hectares. The mining concession is located some 220 kilometers from Tarahan coal port in Lampung.

The Baturaja mine covers an area of 20,000 hectares with mineable reserves estimated at around 80 million tons, the company said. (Bernard)