Toba Sejahtra to expand coal mines portfolio

PT Toba Sejahtra is eyeing 4 more coal mines acquisition in East and Central Kalimantan to boost its coal reserve, the company?s senior official said on Tuesday.

Suheldi, who is also president director of PT Kimco Armindo, one of the coal unit of Toba Sejahtra said that Toba Sejahtra is eyeing one producing coal mine in East Kalimantan and three coal mines in Central Kalimantan, which all is still in exploration stage.

Toba Sejahtra is expecting to acquire 90% stake, each from the four mines, he said without giving the timeline of the completion from the acquisition process.

A the present, Toba Sejahtra has six coal mines, namely PT Kutai Energi, PT Kimco Armindo, PT Pancaran Surya Abadi, PT Adimitra Baratama Nusantara, PT Indomining and PT Trisensa Mineral Utama, Suheldi said.

All mines are in production stage and all located in Kutai Kartanegara regency, East Kalimantan.

PT Adimitra Baratama Nusantara, PT Indomining and PT Trisensa Mineral Utama coal mines are under sub holding company called PT Toba Bara Sejahtra, which is expecting to float its shares in Indonesia stock exchange (IDX) next year.

Toba Bara is targeting to produce 6-7 million tonnes this year and ramping-up to 11 million tonnes next year, Suheldi added. (giok)