Resource Alam eyes six acquisition targets

By Thomas Sembiring

Petromindo|Khalsa

IDX-listed coal mining firm PT Resource Alam Indonesia Tbk is currently verifying certain data of six coal mines located in Kalimantan as the company aims to acquire new mines in a bid to increase reserves.

This was said by Resource Alam Finance Director Agoes Soegiarto to Petromindo.com on Monday. He said while due diligence process has been implemented, that the company was looking again into data particularly regarding their coal calorific value and reserves to make sure that the reports are true.

He added that the coal mines have calorific value of about 5,000 kcal/kg.

Agoes, however, could not yet decide as to when the company will complete the acquisition process.

Resource Alam President Director Pintarso Adijanto said that this year the company plans to increase coal sales volume to 3.5 million-4 million tons from 3.2 million tons last year amid improving coal price outlook.

Editing by Reiner Simanjuntak