PTBA to acquire E. Kalimantan mine: Update
Friday, August 13 2004 - 09:00 AM WIB
An industry sources told Petromindo.Com on Friday that coal mining firm to be acquired by state-owned coal producer PT Tambang Batubara Bukit Asam was PT Multi Harapan Utama, an East Kalimantan-based coal producer.
MHU is an Indonesian joint venture company incorporated in 1986. The venture represents the interests of businessman Ibrahim Risjad and the Napan Group of Indonesia (50 percent), PT Asmin Pembangunan Pratama (10 percent), and Swabara Australia Pty Limited (40 percent).
The company operates a 47,232-ha coal mining concession located 60 km to the south west of the provincial capital of Samarinda with the major Mahakam river passing through the area.
MHU produced 1.23 million tons of coal last year.(godang)