PTBA to acquire E. Kalimantan mine

State coal miner Pt. Tambang Batubara Bukit Asam (PTBA) said Friday it was close to acquire a coal-mine in East Kalimantan.

Corporate secretary Milawarma said that the mine, which is now already at producing stage, has proven reserves of 15 million tons, with production expandable to 2 million tons per annum. He, however, declined to reveal the target?s name.

Milawarma said 95 percent acquisition process was already completed and PTBA would take majority stake at the East Kalimantan mine. (alex)