Padang Karunia eyeing more coal mines

Coal mining, infrastructure firm Padang Karunia Group is seeking to acquire coal mining concessions in Kalimantan and Sumatra, the company?s official said on Tuesday.

Director of Operation M. Budiman said that the firm is focusing on four provinces, that is East Kalimantan (West Kutai, East Kutai, Kutai Kartanegara regencies), South Kalimantan (Rantau, Tanah Bumbu regencies), Central Kalimantan (close to Barito river) and South Sumatra (Muara Enim and Lahat regencies).

The firm is eyeing coal mines, including greenfield projects, with a minable reserve of at least 10 million tons.

?Currently, we are carrying out due diligence on several mines,? he added without giving further details.

Padang Karunia Group is a holding company controlled by Indonesian top businessmen Teddy P. Rachmat and Garibaldi Thohir, who both also control IDX-listed giant coal mining firm PT Adaro Indonesia.

Padang Karunia Group is now developing coal mines in Muara Teweh, Buntok ? Central Kalimantan and Sanga-sanga ? East Kalimantan (denny)