PTT completes survey to acquire a coal mine in Sumatra

PTT Mining Limited, a subsidiary of Thai energy firm PTT Plc, has completed geological survey on a coal mine in Mt. Dempo, near Lahat, South Sumatra that it plans to acquire, the company?s director said.

PTT Mining CEO Peerachat Pinprayong told Petromindo.Com last week that the result is encouraging and the company will enter sales purchase agreement (SPA) with the mine?s owner within this year. ?Currently, we are negotiating the price,? he said.

PTT Mining has signed an MoU to acquire mine. The mine is estimated to have 200 million tons of coal deposit, he added.

PTT Mining Limited has secured deal to acquire 4-5 producing coal mining concession in East Kalimantan. The mines are located near the province?s capital city of Samarinda. (denny)