Thai Banpu acquires E. Kalimantan coal miner Bharinto Ekatama

Thai coal miner Banpu PCL said Wednesday its Indonesian unit, PT. Indo Tambangraya Megah, had acquired a 99 percent stake in East Kalimantan-based coal miner PT Bharinto Ekatama for US$12.5 million.

According to Banpu, Bharinto's coal deposit is located adjacent to the coal deposit of its subsidiary PT Trubaindo Coal Mining. ?All constructions and infrastructures built for Trubaindo coal mining will be usable for Bharinto project,? Banpu said in a statement.

Banpu said during due diligence process, it found that Bharinto had an estimated reserve of 40 million tons of bituminous coal with a gross calorific value of approx. 6,800 kcal / kg.

Aside from Trubaindo, Banpu operates three producing coalmines in Indonesia: Jorong (South Kalimantan), Indominco (East Kalimantan), and Kitadin (East Kalimantan). Another two coalmines (Mumpun Pandan and Barasentosa) are on exploration stage.

The company earlier said that it expected to produce a total of 20 million tons in 2006 from all its concessions in Indonesia. (robert)