Timah to begin coal mine hunting in 2010

IDX-listed tin miner PT Timah Tbk is scouting to acquire coal mines replace its South Kalimantan coal mien which may cease production in 2012 due to resource depletion.

Corporate Secretary Abrun Abubakar told Petromindo.Com on Friday that the company is focusing search area in South Sumatra, South and East Kalimantan. Abrun said Timah is looking to acquire concessions with mineable reserves of at least 50 million tonnes.

Abrun said previous due diligence undertake by the company failed to identify prospective acquisition target. ?We?ll begin hunting again in 2010,? he said.

Timah?s coal mine PT Tanjung Alam Jaya (TAJ) is currently producing at around 1 million tonnes per year.

TAJ operates a 6,000-hectare coal mine in Banjar regency, producing coal with calorific value of approximately 6,500 Kcal/kg. The company sells most of its production to export market. (denny)