Acquisition of Two Big Mines 30 May 2012
PTBA will acquire two mines during this year. To the success of the company's inorganic expansion, the company has set aside $ 5 Trillion.
Jakarta - The coal mine producer PT Bukit Asam Tbk (PTBA) will acquire two mines during this year. To the success of the company's inorganic expansion, the company has set aside $ 5 Trillion. "The location of the two mines that we target are in the Kalimantan region", said Milawarma, CEO of PTBA, in Jakarta, Thursday (3/5)
He stressed that the source of funding comes from internal cash. Where the company's internal cash until the end of last year stood at 6.7 trillion. After considering the record shows that in fact the company was still able to cope for capital expenditure (Capex) with the worth of Rp 1.4 trillion for replacement and business development.
Currently, management is conducting due diligence on both mines. The due diligence process is targeted to be completed as quickly as possible so that the realization of the acquisition could be done this year. Acquisition management claims one of the options to increase coal production. Even so, management can not unilaterally call mine qualifications for minimum reserves. "We prefer to see the business value rather than the amount of reserve" he added.
Hence, the company is aiming for mines that have a calorie amount from middle to high or about 5500 kcal/kg above. So far, the mine's main concession owned by the company is in the Tanjung Enim region and Lahat, South Sumatra. Outside of it, the company only owned another mine in East Kalimantan.
Source : Jurnal Nasional, Friday Mei 4, 2012