Indonesian mining company PT Delta Dunia Makmur has announced that it will acquire Atlantic Carbon Group Inc for $122.4 million. Through this deal, Delta Dunia Makmur will secure ownership of four mines producing ultra-high grade anthracite in Pennsylvania, United States.
In a statement, the company said that the acquisition will strengthen its position in the global anthracite market. Anthracite is a type of high-quality, hard coal that is in high demand, particularly in the steel and power industries.
The purchase of Atlantic Carbon Group will provide Delta Dunia Makmur with access to a significant source of premium anthracite reserves, allowing the company to expand its reach and capitalize on the growing demand for this valuable resource.
By acquiring these four mines in Pennsylvania, Delta Dunia Makmur aims to diversify its operations and increase its global competitiveness in the highly specialized anthracite coal market.
The acquisition is a strategic move for the Indonesian company, as it seeks to leverage its expertise and resources to take advantage of the global trends in the energy and industrial sectors.