United Tractors Seeks Gold, Nickel in Move to Cut Coal Sales
- Coal contribution cut to 50% of total sales by 2030 from 75%
- Company is looking to acquire nickel, gold mining assets
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PT United Tractors is in “full throttle” for new metals and renewable assets as the Indonesian company aims to cut its reliance on coal to half the total income by 2030.
The unit of the nation’s biggest carmaker PT Astra International is actively looking to purchase a nickel mine in Indonesia, a gold mine of at least 2 million ounces of reserves and a copper asset in either Australia or Canada, President Director Frans Kesuma said in an interview in Jakarta. United Tractors currently earns 75% of its total revenue from coal mining and services.