Resource Alam to realize coal mine acquisition next year

By Thomas Sembiring

Petromindo|Khalsa

IDX-listed coal mining firm PT Resource Alam Indonesia Tbk hopes to be able to realize acquisition of a coal mine in the first quarter of next year as part of a strategy to expand its coal reserves.

This was said by Director Agoes Soegiarto to Petromindo.com recently. ?At least one (coal) company will be acquired next year,? he said.

He said that exploration activity is in progress at the targeted coal mine to among others determine the calorific value of the coal, which is estimated to be around 4,400 kcal/kg GAR. The coal mine is located in East Kalimantan Province, he added.

Agoes said in March that the company was conducting due diligence on six coal mines located in Kalimantan as it plans to make new acquisition.

Resource Alam, which operates mines in Kalimantan, plans coal output target of between 3.6 million-4 million tons this year.

Editing by Reiner Simanjuntak