Astra Group, United Tractors (UNTR) Lyrics of Nickel and Copper Mining

Bisnis.comJAKARTA – Mining Issuing Group astraPT United Tractors To know. (A TR) is known to seek new metal mines and renewable assets, to reduce its dependence on coal.

Launch Bloombergthe director of the UNTR president, Frans Kesuma, said that the UNTR was actively looking for mines nickel buy in Indonesia. Apart from this, UNTR is also actively looking for gold mines with reserves of at least 2 million ounces, and copper in Australia and Canada.

Bloomberg said that currently 75% of UNTR’s total revenue comes from mining coal and mining services.

Frans said UNTR would not make new investments in fossil fuels. However, Frans declined to say whether UNTR plans to sell its current coal assets.

“We won’t drastically reduce our existing businesses, because they are actually the ones generating the money for our future growth,” UNTR chief financial officer Iwan Hadiantoro said.

UNTR plans to build a large-scale solar and hydropower project, after buying shares in a hydropower infrastructure company, PT Arkora Hydro Tbk. (ARKO) valued at $11.2 million.

Bloomberg said UNTR plans to finance these new projects in cash, with standby loan facilities from several banks.

According to Iwan, the acquisition of two metal mines requires an allocation of up to US$1 billion. The UNTR is also considering issuing green bonds of US$250-500 million to finance renewable energy projects.

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