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PLN plans to acquire more coal mines

Coal News - Published on Tue, 15 Jan 2019

Image Source: The Jakarta Post
The Jakarta Post reported that PLN is planning to ensure long-term supplies for its coal-fired power plants by acquiring two coal mining sites in Kalimantan and Sumatra during mid-year. PLN president director Sofyan Basir said as quoted by that “Currently, we are still examining the two coal mines. Hopefully, the acquisition would be done by mid-year.”

He declined to mention the names of the owners and the production capacity of the mines on both islands.

The acquisition of the mines is vital to the sole electricity off-taker in the country, which is struggling to ease its financial burdens amid rebounding coal prices, among other issues. In the long run, PLN will only need to calculate coal production costs as it will no longer be affected by uncertain global commodity prices.

This year, Mr Sofyan said, PLN set a target to secure 100 million tonnes of coal, a slight increase from its target last year of 94 million tonnes. He said the acquisition would help the company guarantee its coal supply. Mr Sofyan added that “By acquiring them, we hope at least 30 percent of our total coal supply would be sourced from our mines, while the rest would be from private miners.”

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Posted By : Rabi Wangkhem on Tue, 15 Jan 2019
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