Idemitsu Kosan acquires 3% share of Baramulti

By Ruli Setiawan

Japan-based Idemitsu Kosan Co. Ltd. announced that it has acquired 3 percent share of PT Baramulti Sukses Sarana (BSSR), one of the Indonesian coal company of Baramulti Group.

?We are going to proceed to market coal produced in AGM mine (Antang Gunung Meratus) which BSSR owns in South Kalimantan, for customers in Japan and other Asian countries,? the company said in the statement.

AGM mine, located 100km North East from the city of Banjarmasin produces low sulphur and low ash sub-bituminous coal.

AGM mine is owned by BSSR, planning to produce 7 million ton by the end of 2014, and to further increase after 2015.

Editing by Adianto P. Simamora