Semen Gresik eyeing coal mines in Riau, S. Kalimantan
Thursday, September 29 2011 - 12:55 AM WIB
IDX-listed state cement maker PT Semen Gresik Tbk (SG) is eyeing to buy two coal mines in Riau and South Kalimantan with acquisition completion seen in 2012.
SG?s Business Development and Business Strategy Director Erizal Bakar said on Wednesday that due diligence on both mines are ongoing.
According to Bakar, the Riau mine has mineable reserves of 16 million tonnes with CV range from 4,800-5,500 kcal/kg. The mine is planned to supply coal to SG?s cement plant in West Sumatra .
The South Kalimantan mine has higher CV of 5,800-6,000 kcal/kg, he said.
The company earlier said that it would set aside around US$100 million for coal mine acquisition to help boost cement production to 30 MT in 2015 from 23 MT next year. (*)