PTBA to takeover coal assets of Timah, Antam

By Thomas Sembiring

Petromindo|Khalsa

The government?s plan to create a holding company for state-controlled mining firm will among others see the transfer of coal assets belonging to IDX-listed tin mining firm PT Timah and IDX-listed mining firm PT Aneka Tambang Tbk (Antam) to IDX-listed coal miner PT Bukit Asam Tbk (PTBA) as part of business restructuring of the members of the holding company.

This was said by PTBA President Director Arviyan Arifin to Petromindo.com on Friday. ?It (the coal assets of Timah and Antam) will automatically be transferred to us,? he said.

The government is in the process of setting up a holding company for state-controlled mining firms in a bid to create a mining firm with large assets to help accelerate the development of the country?s mineral resources. Under the plan, state-owned aluminum company PT Indonesia Asahan Aluminium (Inalum) will be appointed as the holding company with members including PTBA, Timah, and Antam.

Elsewhere, Arviyan said that PTBA will also be involved in future development of coal-fired power plants to supply the electricity needs of other companies in the holding company.

Antam President Director Arie Prabowo Ariotedjo confirmed that PTBA will be engaged in the company?s power plant projects such as in the planned 2x30 MW coal-fired power plant in Pomalaa, Southeast Sulawesi Province, or future project in Halmahera, North Maluku. He said that the power projects will be transferred to PTBA.

Editing by Reiner Simanjuntak