Big plans for new coal kid on the block

IT may be the newest coal kid on the block, but Golden Energy and Resources certainly has grandiose ambitions in its sight.

Riding on the coattails of rising coal prices, the coal mining group plans to raise production every year amid what it sees as unrelentless demand in the region for the power generation fuel.

A future acquisition of PT Berau Coal Energy, the fifth largest coal producer in Indonesia, is also a possibility. If that were to occur, the combined group would be among the three largest coal groups in Indonesia, said Golden Energy and Resources chief investment officer Mark Zhou.

Golden Energy and Resources listed on the Singapore Exchange after a reverse takeover of United Fiber in April 2015. For over a year, trading of the stock was suspended due to an inadequate public float; the company could not ge…