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Again, the coal producing company plans listed on the Indonesia Stock Exchange. PT Borneo Lumbung Energy & Metal Inc. plans to sell 20 per cent, equivalent to 3.3317 billion shares to the public.
Borneo targeting proceeds IPO (Initial Public Offering / IPO) of 0.2 to 4 Rp3 trillion.
From the funds of the plan by about 50 percent will be used to pay company debts equivalent to Rp1, 9 billion, 35 percent for capital expenditure (capex), and the remainder earmarked for working capital, Borneo Lumbung Energy.
The Company is a manufacturer and exporter of hard coking coal coal types. Coking Coal-called metallurgical coal is a type of coal that can be used to produce coke as a reductant in the production of iron and steel.
Coking coal is used to produce metallurgical coke which is a raw material for the production of pig iron in blast furnaces.
Corporate Secretary of the Granaries Borneo Energy PA Geroad Jusuf said that this type of coal used to make steel. The Company currently has signed contracts with China and Taiwan.
“Our new contract is for one million tonnes,” said Marketing Director Kenneth Raymond Alan BORN in Jakarta.