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Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central Kalimantan.
Antam's president director Alwinsyah Loebis said that BHP's Maruwai coal project had interesting coal reserves. "The coal is a type of coking coal that differs from most coal found in Indonesia," Alwin told reporters Tuesday.
Coking coal is coal used in the production of coke, which can be further modified for use in the production of pig iron.
As has been reported earlier, BHP is in the process of pulling out from Indonesia. In early June, the company announced its decision to stop the development of the Haju trial mine, one of seven mines under the company's Maruwai coal project in Central Kalimantan.
BHP said its operations in the Haju trial mine did not mesh well with its long term investment strategy. It has also decided to terminate activities in six other areas specified in the project.
Alwin did not disclose the amount to be invested by Antam in acquiring the project."We are still evaluating the prospect. We have not submitted any official proposals to BHP," he said.
Antam primarily produces nickel, but Alwin said the company was seeking to expand its business by including coal. "We want to develop our portfolio," he clarified. Aside from evaluating the possibility of buying BHP's coal project, Antam is also investing US$30 million to acquire several coal mines this year.
Source:The Jakarta Post
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Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...
Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
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