South Korea state-owned utility Korea Electric Power Corporation (Kepco) is seeking to acquire more coal mines in Indonesia, after successfully acquiring a 20 percent stake in listed coal mining group PT Bayan Resources, the company’s official said.
Kepco is looking for coal mines with minimum reserve of 100 million tonnes and a calorific value of above 6,000 kcal/kg (ADB), the official told Petromindo.Com recently.
“We prefer to invest in Kalimantan, which has an infrastructure,” the official said without giving further details.
In July 2010, Kepco bought a 20 percent stake in Bayan for US$515 million to secure its coal supplies. Bayan will supply 2 million tonnes of coal per annum to Kepco starting in 2012 and will increase the supply to 7 million tonnes per annum in 2015.
In July 2009, kepco acquired a 1.5 percent stake in PT Adaro Energy Tbk, for $56.5 million.
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