UCI completes acquisition in Berau
Tuesday, June 11 2013 - 08:09 AM WIB
Indonesia coal mining company, PT United Coal Indonesia (UCI) stated that it has completed the acquisition process of a 2,300 hectares coal mine in Berau, East Kalimantan.
Taufik Surya Darma, President Director of UCI told Petromindo.com on Tuesday that the coal mine has about 40 million tons of mineable coal reserves.
"We expect to start the production in Berau by August-September this year," Taufik said without disclosing the acquisition's value.
Apart from coal mine in Berau, the company is also finalizing the acquisition process of a coal mine in Kutai Kartanegara East Kalimantan which has a total concession area of about 5,000 hectares and has 60 million mineable coal reserves. "In Kutai Kartanegara we are expecting to start production in the third quarter of 2014," he ended.
Editing by Adianto P. Simamora