Reswara looks for higher grade IUPs

By Tri Subhki R

PT Reswara Minergi Hartama, a subsidiary company of IDX-listed integrated energy company PT ABM Investama Tbk (ABMM), is still looking for mining permit (IUP) holders with higher grade coal reserves for possible acquisition. It aims to improve its portfolio as the existing three IUPs owned by Reswara have low grade coal deposits.

?We keep looking for IUPs that have higher grade coal than (our) TIA and MDB (concessions),? Reswara?s President Director Harry Asmar said to Petromindo.com recently, referring PT Tunas Inti Abadi (TIA), a subsidiary holding concession in South Kalimantan, and PT Media Djaya Bersama (MDB), the owner of two coal concessions in Aceh.

TIA produces 5,300 ? 5,500 kcal/kg (ADB) and MDB, through PT Mifa Bersaudara (Mifa) and PT Bara Energi Lestari (BEL), produces 5,100 ? 5,300 kcal/kg (ADB). In 2014, Reswara produced 5.94 million tons of coal, mainly from TIA, while Mifa and BEL only produced 304,000 tons of coal.

Harry mentioned that the production in Aceh coal project will be increased gradually after the inauguration of its commercial operation last month. ?For this year, we set production target at three million tons of coal from Aceh coal project only,? he said.

Editing by Reiner Simanjuntak