UCI plans to acquire coal mines in East Kalimantan
Friday, April 26 2013 - 11:44 AM WIB
By Cepi Setiadi
Indonesia coal mining company, PT United Coal Indonesia (PT UCI), is currently in the process of acquiring several coal mines in East Kalimantan.
Taufik Surya Darma, President Director of PT UCI told Petromindo.com that the company is conducting due diligence on coal concessions located in Berau, Bulungan and Kutai Kartanegara.
Taufik said that the company targeted coal mines having resources of around 130 million tons.
"We expect to complete this acquisition process in the third quarter of this year," he said.
UCI produced about 947,000 tons of coal throughout the first quarter of 2013, while its production target for the whole year is 3.9 million.
Editing by Adianto P. Simamora