SEM plans to acquire new coal concessions this year

By Cepi Setiadi

Coal mining firm PT Senamas Energindo Mineral (SEM), a subsidiary of Rimau Group, is planning to acquire three to five coal concessions in Tamiang area, East Barito Regency, Central Kalimantan, this year including via joint venture cooperation.

Jerry Tan, Marketing Director at SEM told Petromindo.com that that the total estimated reserves of the targeted mines is more than 100 million tons.

?We are confident it would happen this year ? Clearly, two mines are looking for our help,? he said, adding that one of the mines is already in production stage, while the other is a green field. ?We want to help out neighbors. It could be via acquisition or joint venture (mechanism),? he added.

Jerry explained that the current downturn in the global coal market provides good opportunity for making acquisition.

Editing by Reiner Simanjuntak