NG Group to complete acquisition in August
Thursday, June 15 2017 - 05:02 AM WIB
Petromindo|Lucky
NG Group of companies is currently under intensive talk on acquisition plan of a coal mining site in Berau regency, East Kalimantan, according to President Director of NG Group, Biju N G.
?We expect to complete it (the acquisition) on August this year,? he told Petromindo.com on Thursday.
He said the targeted company covers 3,000 hectares with calorific value of 3.800 kkal/kg (GAR) with reserves around 50 million tonnes.
?The site has good transportation access. Stripping ratio is also still very good,? he said, adding that the mining area is not located in forestry zone.
He decline to provide further, saying ?The area is belong to a friend so the discussion is good.?
Editing by Alexander Ginting