Resource Alam acquires 5 coal mines
Friday, July 20 2012 - 02:46 AM WIB
IDX-listed coal company PT Resource Alam Indonesia Tbk said that it had completed the acquisition of 5 coal mines worth at US$11.8 million in the first semester this year.
The five companies are PT Kaltim Mineral, PT Jaya Mineral, PT Tambang Mulia, PT Chaido Mega Mineral and Pt Lao Haur.
"All the money for acquisition are from internal cash," the company's Head of Investor Relation Eric Tirtana said as quoted by Kontan, adding that the last acquisition was for Lao Haur where Resource Alam purchased 60 percent share of the company worth at $3.9 million on May 2012.
Lao Haur has green field in Murung Raya, Central Kalimantan covering 5,000 hectares.
Kaltim Mineral, Jaya Mineral and Tambang Mulia has total concession of 23,521 hectares in Kutai Timur, while Chaido Mega has concession of 5,000 hectares in Kutai Kartanegara.(*)