Apr 26, 2011

Resource Alam considers coal takeover

Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmines in a bid to make exponential growth.
The coal company is eyeing several mines with middle rank coal to acquire in East Borneo, said to Head of Investor Relations Resource Alam Eric Tirtana.
“There are a lot of mines we can acquire because we seek for small scale ones. Finding 3 million ton more coal is relatively easy, we are unlike big players that seek for tens of million ton coal assets,” he said as quoted by Bisnis Indonesia daily.
The company currently manages Rp210.03 billion that can be allocated to support the plan, but there is also possibility to get more funds from loan.

Disclosure: No position at the stock mentioned above.
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