PTBA to complete coal mine acquisition this year

By Thomas Sembiring

IDX-listed coal mining firm PT Bukit Asam Tbk (PTBA) hopes to complete the acquisition of a coal mine this year as part of expansion strategy as the company aims to have assets outside its key production center of South Sumatra.

?We?re targeting to complete (the acquisition) this year,? said PTBA Corporate Secretary Joko Pramono, but declined to provide further details.

He said that the acquisition would be conducted either by its direct or indirect subsidiary. ?The coal potential (of the target) is quite huge,? he said.

Last year, PTBA through subsidiary PT Internasional Prima Coal acquired South Kalimantan coal miners PT Tabalong Prima Resources and PT Mitra Hasrat Bersama for a combined US$36 million.

In the same year, the company through subsidiary PT Bukit Multi Investama acquired 95 percent interest in coal mining services company PT Satria Bahana Satria.

Editing by Reiner Simanjuntak