Jatenergy plans to sell coal assets

By Peni Pedriawan

Australian-listed energy firm Jatenergy is looking to divest the company of certain assets, including its Katingan coal asset in Indonesia and some of its Australian coal assets.

"We are currently in negotiations for the sale of Katingan," the company said in its second quarter report.

The sale of these assets is expected to increase the company?s cash reserves, while allowing the company to focus on its core projects.

The Katingan Project comprises a single 5,000 hectare tenement located 160 km northwest of Palangkaraya in Central Kalimantan.

The Katingan project is Jatenergy?s largest coal project in Indonesia with reserves estimated at 36.6 million tons to 43.1 million tons.

Editing by Adianto P. Simamora