Rajawali eyeing BHP?s Maruway coking coal project
Friday, October 23 2009 - 01:29 AM WIB
Darjoto Setiawan, managing director of Rajawali, told reporters on Thursday that Rajawali is among 25 investors who have expressed interest the mines, but he did not give further details.
BHP has begun collecting expressions of interest for Maruwai from strategic investors, Edwin Gerungan, President Director of BHP Billiton Indonesia, said on Thursday.
BHP will sell a 25 percent stake in its Maruway and hopes to wrap up a sale as early as the first quarter of 2010. "There have been many interested investors," both local and foreign, he said.
BHP has appointed UBS to advise it on the sale.
A number of firms, including state-owned miner PT Aneka Tambang (Antam), state-owned coal miner PT Tambang Batubara Bukit Asam (PTBA), PT Indika Energy, PT Medco Mining Internasional, PT Adaro Energy and Bumi Resources have announced interest to acquire a stake in the Maruway mines.
According to Petromindo source, PT Bukit Makmur Widya, the parent firm of second biggest mining contractor PT Bukit Makmur Mandiri Utama (BUMA), is also intrested to bid for the mines.
Maruway Coal Project, which is wholly owned by BHP Billiton, comprises of seven Coal Contracts of Work (CCOWs). Of these, BHP Billiton has started developing the Haju mine and doing a feasibility study on the Lampunut mine. BHP initially planned produce 5MTPA of coking coal from the mines in 2012. (godang)