Indian firm mulls acquiring coal mine in Indonesia

By Bambang Atmaja

An Indian firm, operating on power trading business, considers to acquire coal mining firms in Indonesia or Australia to smooth its coal supply, Industry Minister MS Hidayat said here on Tuesday.

Minister Hidayat said that the representatives of the Indian firm have met with top officials at his ministry and now would go to Australia to find out the prices of such acquisitions there.

Indonesia is the world's largest thermal coal exporter.

"They (the representatives) have come to us to collect information on price. If it is in line with the cost they expect, they will later negotiate and enter here," he told Petromindo.com at the State Palace.

Hidayat declined to name the company and amount of fund the company has prepared for the planned acquisition.

"Now the representatives are going to go to Australia, they will compare the prices," said Hidayat.

Editing by Adianto P. Simamora