Indonesia miners consider acquiring 35% of coal giant Bumi

Jakarta (ANTARA News/Asia Pulse) - A consortium of two Indonesia-based state mining companies - PT Aneka Tambang (Antam) (JSX:ANTM) and PT Tambang Batubara Bukit Asam (PTBA) (JSX:PTBA) - is studying the possibility of acquiring 35 per cent of the country's largest coal producer PT Bumi Resources (JSX:BUMI). 

The plan came after a dive in the share price of Bumi Resources, which plunged to Rp2,175 (US$0.224) earlier last week from its peak of Rp8,550 per share. 

The president of coal miner PTBA, Sukrinso, said the company had discussed the possibility of acquiring Bumi Resources with Antam, which operates in nickel, gold and bauxite mining.