Timah to diversify to coal mining
Tuesday, September 10 2013 - 01:20 AM WIB
IDX-listed tin giant PT Timah through its subsidiary PT Timah Investasi Mineral is set to acquire a coal concession in Sekayu, Musi Banyuasin, South Sumatra, in a transaction estimated at around Rp 1 trillion, Bisnis Indonesia reported Tuesday quoting Timah Corporate Secretary Agung Nugroho.
He said that the acquisition was expected to be completed before the end of this year. The company is currently at the stage of conducting feasibility study.
Timah has cash reserves of about Rp 746 billion as end of June 2013, and standby loans from several banks totaling Rp 3 trillion. (*)