PT Delta Dunia Makmur Tbk plans to acquire strategic coal mining contract of PT Darma Henwa Tbk (Dewa) at PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia.
Northstar Tambang Persada Pte Ltd has been actively negotiating with PT Bumi Resources Tbk, owner of KPC and Arutmin, for possible scheme.
As the owner of Delta Makmur, Northstar has been actively negotiating with Bumi on the coal contractor takeover at KPC and Arutmin done by Dewa. One reason of the talks is that Bumi should meet the coal production target as it deals with Dewa performance,
Northstar Persada owns 20 percent shares of Delta Makmur, and Caceis Bank has 5 percent shares.
Delta Makmur has just acquired all shares of the second largest coal mining contractor in Indonesia, PT Bukit Makmur (Buma), formerly owned by Johan Lensa, worth US$550 million.
Bumi, through its subsidiary firm PT Bumi Resources Investment, early last year acquired 44 percent shares of Dewa indirectly cost IDR2.41 trillion. Dewa committed to improve the production up to 12 million tons in Bengalon and five times higher int 10 million tons in Asam Asam in 2012.
Dewa now has strategic contract with KPC and Arutmin for the long run. (see illustration).
Up to September 2009, Dewa income was generated from coal mining worth US$116.86 million or dropped 14.69 percent as from US$136.99 million in 2008.
Bumi, through its subsidiary firm PT Bumi Resources Investment, early last year acquired 44 percent shares of Dewa indirectly cost IDR2.41 trillion. Dewa committed to improve the production up to 12 million tons in Bengalon and five times higher int 10 million tons in Asam Asam in 2012.
Dewa now has strategic contract with KPC and Arutmin for the long run. (see illustration).
Up to September 2009, Dewa income was generated from coal mining worth US$116.86 million or dropped 14.69 percent as from US$136.99 million in 2008.
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