May 17, 2020

PT Harum Energy Tbk Allocates $470m to Acquire Coal Miner near East Kalimantan Operation

mining operation in East Kalimantan
Harum mining
PT Harum
Admin
2 min
PT Harum Energy Tbk Allocates $470m to Acquire Coal Miner near East Kalimantan Operation
PT Harum Energy Tbk recently announced during their 2014 shareholder meeting that they are allocating $470 million to purchase a coal mining company loc...

PT Harum Energy Tbk recently announced during their 2014 shareholder meeting that they are allocating $470 million to purchase a coal mining company located near their mining operation in East Kalimantan. This acquisition falls under the company’s plans for expansion this year.

Harum Energy is one of the leading thermal coal producers in Indonesia with integrated mining operations in East Kalimantan. The coal mining company is controlled by Indonesian businessman Kiki Barki. Through its subsidiaries and joint venture company, the Harum Energy operates three coal mines and a tug and barge operation.

The Company markets its coal to a diversified group of customers in various Asian countries, such as Japan, South Korea, Taiwan, China and India, under both multi-year contracts as well as spot contracts. The Company's customers include large coal-fired power generating and manufacturing companies located throughout Asia.

“We’ve already set aside the fund. We have our eyes on a mining company located close to our Harum mining operation in East Kalimantan,” said Ray Gunara, president director at Harum Energy, in Jakarta on Thursday.

The potential for the presently unnamed coal miner to produce at least 50 million metric tons per year is a primary factor as to why Harum Energy has selected this premium target for acquisition.

Gunara also reported that the Jakarta-based Harum Energy would use its internal cash of approximately $200 million and a $270 loan facility which it received last year for the acquisition plan.

In addition, Harum Energy already has $10 million worth of capital expenditure allocated for the company’s coal production equipment maintenance this year. 

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Jun 29, 2021

Vale invests $150mn to extend life of Manitoba operations

Vale
Nickel
Manitoba
battery metals
2 min
Vale’s $150mn investment in operations at Thompson, Manitoba will extend mine life by 10 years

Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.

Global energy transition is boosting the market for nickel

The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.

“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.

“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”

Vale continues drilling program at Manitoba

Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.

“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.

“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”

The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history.  Mining of the Thompson orebody began in 1961.

“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.

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