On one hand, the deal will give Geo Energy access to mining operations and coal deposits located in South Sumatra – one of the three largest regions of Indonesian coal resources.
SINGAPORE (Sept 24): Geo Energy Resources announced Monday it was acquiring PT Titan Global Energy (TGE), and a 51% stake each in two producing mines, PT Bara Anugrah Sejahtera (BAS) and PT Banjarsari Pribumi (BP), for US$25 million ($34 million).
On the surface, market watchers say the acquisitions appear to be promising. But some remain cautious, especially due to the bleak outlook of the coal industry.
