Oxbow stops coal trading ops to focus on acquisition

Energy and bulk commodity supplier and logistics firm Oxbow Corporation has stopped its coal trading activities in Indonesia starting this month in a bid to concentrate to acquire coal mines in Indonesia.

?Oxbow has stopped buying coal from third party mines in order to focus on coal mine acquisition,? a company official told Petromindo.com on Wednesday.

The official said Oxbow is hunting to acquire brown field thermal coal mines in East Kalimantan and South Sumatra.

?We want majority stake in each mine we will acquire,? the official said.(denny)