ICR to acquire coal concession
Monday, April 30 2012 - 10:21 AM WIB
By Cepi Setiadi
Indonesia coal miner company, PT Indonesia Coal Resources (ICR) - a wholly owned subsidiary of Aneka Tambang Tbk., unveiled plan to acquire a coal concessions (IUP) in Kalimantan.
ICR President Director Bachtiar Maggalatung, said that the company is currently doing the due diligence.
Bachtiar, however didn't elaborate which part of the Kalimantan that the concession is located.
"We will not disclose it yet, but the IUP has resources of about 30 million tons of low rank coal," he told Petromindo.com. The IUP has 1,000 hectares of concession area.
The company targets to complete the due diligence within three months.
Editing by Adianto P. Simamora