Dry bulk shipowner Mercator Lines bought a 50% stake in a coal mine in Indonesia for approximately $30m, Seatrade Asia Online reports. “We have acquired 50% stake in a mine in Indonesia's East Kalimantan, which has reserves of 60m tonnes,” said Atul Agarwal, managing director at Mercator.
The privately-owned Indian company plans to list its coal division in London within the next one year, Agarwal added. Mercator is looking at a production of 3m tonnes of coal per year.
The Mumbai- and Singapore-listed company has diversified interests ranging from shipping, coal, dredging and offshore oil and has services.
The privately-owned Indian company plans to list its coal division in London within the next one year, Agarwal added. Mercator is looking at a production of 3m tonnes of coal per year.
The Mumbai- and Singapore-listed company has diversified interests ranging from shipping, coal, dredging and offshore oil and has services.