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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING


According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) has acquired a coal concession in located in Jambi, Sumatra, for  Rp 92.5 billion (US$ 10,254,988).

In an official statement submitted to Indonesia Stock Exchange, the acquisition is the first path for Antam to expand business into coal sector.

Sarolangun coal mining started its commercial production in June last year with 200,000 tons output.

ICR plans to jack up Sarolangun's production volume to 500,000 tons by 2011. Insider further said, Sarolangun has coal reserves of 8.25 million tons with quality of 5,300-5,500 kcal/kg. (1 IDR = 0.000110865 USD - Source http://www.xe.com
)



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