Trada sees opportunity to expand new coal business

By Thomas Sembiring

Petromindo|Khalsa

IDX-listed PT Trada Alam Minera Tbk sees opportunities in the future to expand its new coal business in East Kalimantan through acquisition or cooperation with nearby coal mines.

This was said by Trada President Director Soebianto Hidayat to Petromindo.com on Tuesday. ?We have plenty of options, through acquisition or cooperation (with nearby mines),? he said.

He said that his company is expected to soon complete the acquisition of PT Gunung Bara Utama (GBU) coal concession in East Kalimantan?s West Kutai Regency. Trada will also acquire PT Lautan Rizki Abadi (LRA), the majority owner of PT SMR Utama (SMRU). By acquiring LRA, Trada will become an indirect owner of mining contractor PT Ricona Abadi, a subsidiary of SMRU.

He said that Trada plans to develop an integrated mining operation with complete infrastructure facilities, opening possibilities for other nearby mines, which lack infrastructure, to cooperate with the company or through acquisition option. ?Dependency of nearby mines on us will be quite high,? he said.

Editing by Reiner Simanjuntak