Indonesia
PTT ASIA PACIFIC MINING PTY LTD (PTTAPM)
PTTAPM is the formation of a strategic alliance between PTTI and Straits Resources Limited (SRL), listed on the Australian Stock Exchange (ASX: SRL). This was achieved via the acquisition of a 60% interest in Straits Bulk and Industrial Pty Ltd (SBI) from SRL. The transaction was completed on 28th April 2009. SBI then has been renamed to PTTAPM, having the head office located in Perth, Australia.
Currently, PTTAPM holds the following key interests;
- 45.6% shareholding in Straits Asia Resources Limited (SAR), a SGX listed company having the headquarters in Singapore, which is one of leading coal producers and exporters in Indonesia (www.straitsasia.com). SAR is primarily engaged in thermal coal mining at Sebuku and Jembayan in Kalimantan, Indonesia. Current production capacity is 8 MTPA at Sebuku and capacity expansion at Jembayan from 5.5 to 16.5 MTPA is underway. Customer bases primarily comprise large power generation companies located in Japan, India, China, South Korea, Taiwan, Europe, and South East Asia. SAR also owns 15% shares in Xanadu Mines Limited, having a right to explore coal, copper, gold, uranium in Mongolia.
- 35% shareholding in a JV with Far East Energy to explore coal potential in Brunei.
- 33.5% shareholding in a JV with Red Island Minerals (RIM) to explore coal potential in Sakoa coalfield in Madagascar.
- 100% interest in a solar salt project in Western Australia which is in the exploration phase.
