BHIT plans acquisition of five coal mines

Jakarta-PT Bhakti Investama,Tbk (BHIT) planned acquisition of five coal mines in Kalimantan. The company is also  ambitious to immediately realize the acquisition of the mine this year.

Director of Oil and Gas BHIT Boediono said that the mine was acquired must meet specific requirements of the reserves of coal. "If you are looking to back up high-calorie 30 million tons of low but if most of 20 million tons to 30 million tonnes," he said.

For the record, BHIT currently has nine mines in South Sumatra and East Kalimantan. "One location in Sumatra has been producing 70 thousand tons per month or 840 thousand tons per year and we will increase to 100 thousand or 1.2 million tons per year," he added.

Later this year BHIT coal mines will begin production at two sites in South Sumatra. However, in the early stages of production levels are still small, each between 20-40 thousand tons per month or up to 480 thousand tons per year. Average calories in Sumatra, including low while in East Kalimantan is a medium calories.

Budiono further believes that issuers with stock code BHIT was able to have coal reserves of 500 million tons. "We are open to take over coal mines, if there is an offer with the economy and the reserves are adequate in our opinion, it will be taken soon," he explained.

Currently, coal sales contracts BHIT of 150 thousand tons per month or 1.8 million tons per year. Most of the production was shipped to export markets. "So far, we have regular customers include China, South Korea and India. In the future, exports are still the three countries as well, "said Budiono.