Samindo conducting due diligence to acquire coal concession in East Kalimantan

By Cepi Setiadi

IDX-listed services mining company, PT Samindo Resources is conducting due diligence to acquire coal concession in East Kalimantan.

Business Development Director of Samindo Resources, Priyo P. Sumarno told Petromindo.com that the due diligence is expected to complete by the end of this year.

"We are still conducting the due diligence and can't disclose the location yet, but we are expecting to complete it before the year's end," he said.

Samindo is running mining services business and currently doing the services for Kideco in Grogot, East Kalimantan.

According to Priyo, along the first quarter of the year the company has realized over burden removal of about 26 million bcm of the 29 million bcm target.

Editing by Adianto P. Simamora