PT Baramulti Suksessarana
|This article is part of the CoalSwarm coverage of Indonesia and coal|
PT Baramulti Suksessarana (BSSR), which is also referred to as PT Baramulti Sukses Sarana, is an Indonesian coal company. The company is in the process of developing two significant mines: the Antang Gunung Meratus mine (also referred to as the AGM mine), the BSSR mine and Bandjarmisin mine. The AGM mine currently produces approximately 3 millions tonnes of sub-bituminous coal a year, though the mine is being expanded.
In November BSSR announced plans for an an initial public offering of 10% of its shares on the Indonesian Stock Exchange. Subsequently Idemitsu Kosan announced that it had purchased a 3% stake in the company share of BSSR. Idemitsu stated that it was going to "proceed to market coal produced in AGM mine which BSSR owns in South Kalimantan, for customers in Japan and other Asian countries."
The mine, Idemitsu stated, "is located in 100km North East from the city of Banjarmasin, producing low sulphur, and low ash sub-bituminous coal. AGM mine is owned by BSSR, planning to produce 7 million ton by the end of 2014, and additional increase after 2015."
Shortly after Idemitsu's announcement, Tata Power announced that it had bought a 26% stake in BSSR. In a media release Tata stated that "This acquisition would aim to support our power generation projects in select geographies, to be developed over next few years." The company stated that as part of the purchase the company can "purchase about 10 million tonnes of coal per annum." Reuters reported that a Idemitsu spokesmen stated that the deal would allow the company to sell coal from the AGM mine to Vietnam, China and Japan.
Bloomberg lists key company personnel as being:
- Agus Gurlaya Kartasasmita, President Commissioner
- Henry Angkasa, President Director
- Yayan Suryana, Director
Baramulti Suksessarana Tbk PT
Komp. Harmoni Blok 8A
Jl. Suryopranoto No. 2
Articles and Resources
- Francezka Nangoy, "Coal Producer Baramulti Planning Rp 549b October IPO", Jakarta Globe, October 17, 2012.
- Idemitsu Kosan, "Announcement regarding share acquisition of Indonesian Coal Company", Media Release, November 8, 2012.
- Tata Power, "Tata Power acquires 26% stake in large mines at PT Baramulti Suksessarana Tbk ("BSSR"), Indonesia", Media Release, November 08, 2012.
- Osamu Tsukimori, "Japan's Idemitsu buys $13 mln stake in Indonesia coal miner", Reuters, November 8, 2012.
- "Baramulti Suksessarana Tbk PT", Bloomberg, accessed January 2013.