Mercator to buy another coal mine
Tuesday, August 23 2011 - 01:45 AM WIB
Indian firm Mercator Lines plans to acquire another 25 million tonne coal mine in Indonesia from a local company Karya Putra Borneo in next two months.
Atul Agarwal, MD, Mercator Lines, told Financial Chronicle, ?We are in talks with Indonesian company Karya Putra Borneo for a coal mine with capacity in excess of 25 million tonne. The discussion is in final stages and we hope to conclude the deal in next one or two months.?
The company is concluding the acquisition and expects the production to start from this mine in the fourth quarter of this financial year, the report said.
According to the company?s website, it has four other mines in Kalimantan , two in Tanah Grogot, East Kalimantan and another two in Satui, South Kalimantan .(*)