UT eyeing to expand coal mining business

JSX-listed heavy equipment distributor PT.United Tractors is eyeing to acquire four coal mining firms in South and East Kalimantan to add to its existing portfolio, a company official said on Wednesday.

Company?s CEO Djoko Pranoto declined to give names but said due diligence is expected to be completed by the end of year, adding that each of the mines has between 20-30 million tonnes of reserves.

United Tractors through its mining contractor subsidiary PT.Pamapersada Nusantara has recently completed acquisition of South Kalimantan coal miner PT.Dasa Jasa Ekatama, which will, produce 3 million tonnes of coal this year. (godang)