PTBA readies $150m to acquire coal mines
Friday, August 21 2009 - 01:25 AM WIB
IDX-listed state coal miner PT Tambang Batubara Bukit Asam (PTBA) readies US$150 million from internal cash to acquire two coal mines in East Kalimantan, President Director Soekrisno said on Thursday.
PTBA is currently conducting due diligence on both mines with target to complete acquisition on one mine by year-end.
Currently PTBA has one mine in East Kalimantan called PT International Prima Coal. (kanti)