INDONESIA PRESS-Tin miner Timah to expand into coal business in 2014- Investor Daily

Tue Dec 3, 2013 8:52pm EST

State-owned tin miner PT Timah (Persero) Tbk plans to expand into the coal business by acquiring coal company in East Kalimantan next year and increasing its stake in a coal firm in South Sumatra up to 80 percent from current 10 percent, said Chief Executive Sukrisno.

The company is currently negotiating with a coal company in East Kalimantan to buy 60 percent of its shares and plans to spend up to 500 billion rupiah ($42.07 million) to finance the acquisition.

* Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11,885 Indonesian rupiah) (Compiled by Rin Hindryati; Editing by Anand Basu)

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