Medco Mining acquires coal concession in Muara Teweh

By Cepi Setiadi

Indonesia coal mining company, PT Medco Energi Mining International is currently in the process of acquiring coal concession in Muara Teweh, Barito Utara, Central Kalimantan Province.

CEO Arie Prabowo Ariotedjo told Petromindo.Com that the company is currently conducting legal due diligence. ?If the result of the due diligence is fine we will execute it within two or three months,? he said.

Arie revealed that the concession acquired has about 4,000 hectares and still on a greenfield. ?But several initial drilling has been completed, and so far the concession is estimated to have about 25 million ton resources of coal with 6,700 kcal/ kg GAR,? he said.

Arie however, refused to disclose the value of the acquisition.

Editing by Alexander Ginting