Jan 6, 2011

Berau Coal Energy eyeing acquisition

Indonesia fifth largest coal miner PT Berau Coal Energy Tbk (BRAU), Bakrie affiliated, is eyeing middle size coal mining acquisitions.
"We are considering several acquisitions as a strategy to improve performances. We are looking middle size coal companies with 5 year production life," said Berau Energy Director Y.A. Didik Cahyanto said as reported by Bisnis Indonesia today. But, he declined to further explain about the target companies. 
In 2009, Berau Coal produced 14.3 million tons. The miner is targeting 22 million tons in 2010, 24 million tons in 2011, and 30 million tons in 2012-2014.
Berau Coal recently awarded a US$500 million contact to Indonesia's second largest coal contractor PT Bukit Makmur Mandiri Utama (BUMA), wholly owned subsidiary of PT Delta Dunia Makmur Tbk (DOID).

Disclosure: No position at the stock mentioned above.  

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