PTBA to acquire IPC
Wednesday, July 2 2008 - 02:07 AM WIB
State coal mining firm PT.Tambang Batubara Bukit Asam (PTBA) is close to seal deal to acquire a coal mining company which holds concession in East Kalimantan.
A Petromindo.Com source said that PTBA will acquire PT.International Prima Coal (IPC) from Rajawali Group, a holding company controlled by businessman Peter Sondakh.
The source did not disclose the acquisition value, but said the mine has mineable reserves of 25 million of good quality coal with production could reach 2 million tonnes per annum. (godang)