PTT poised to sell mining business in IndonesiaNational oil and gas conglomerate PTT Plc expects to sell its coal mining business in Indonesia within the first half of this year as the company plans to focus more on clean energy and mobility. It is the right time for the sale as global coal prices have risen since the end of last year, said Auttapol Rerkpibun, chief executive and president of PTT. It had enjoyed full production but later saw the production decrease due to a drop in global coal prices. Last year, SAR earned 16.98 billion baht, a 57% rise from the previous year, though sales volume declined by 4.7% to 6.1 million tonnes, down from 6.4 million tonnes in 2020, according to PTT. PTT entered the coal mining segment in 2012 by buying a 55% stake in Singapore-listed coal miner SAR and acquiring the remaining 45% share through a tender offer.

Source: Bangkok Post April 05, 2022 11:27 UTC