PT Ratu Prabu Energy Tbk is planning a rights issue to tap some IDR350 billion IDR 400 billion in proceeds for business expansion. Finance Director of Ratu Prabu Gemilang Zaharin said the expansion would be in the mining sector, the existing business expansion and oil and gas service. "For mining, we will allocate some $10 million - $17 million fund. For oil and gas exploration we allocate $10 million funds plus other posts requiring $35 million - $40 million," he said on December 28. President Director of Ratu Prabu, Bur Maras said the company plans to have $37 million budget in the upcoming three years from 2010 to develop the acquired mining site. Not only gold mining, the company is also looking at dabbling in coal as it plans to acquire mining site in Bengkulu.

PT Ratu Prabu Energy Tbk seeks to buy some mining companies this year. The company intends to spend $50 million on such acquisitions. President Director of Ratu Prabu, Bur Maras said that the company cooperates with other investors to develop Ratu Prabu business. "The acquired fund might be derived from other investors or other mechanism," he said to Bisnis. The company plans to allocate $500 million up to the next four years to help build Indo Asia infrastructure as port, road and workers residence. Indo Asia has gold mining company in East Kalimantan and coal in Bengkulu.

PT Ratu Prabu Energy Tbk seeks to buy some mining companies this year. The company plans to allocate $500 million up to the next four years to help build Indo Asia infrastructure as port, road and workers residence. Indo Asia has gold mining company in East Kalimantan and coal in Bengkulu. "Following the acquisition of Indo Asia, we plan to seek strategic partners to help finance some of the required infrastructure. There are two offshore investors interested. We will later from a joint venture with the partners here," President Director of Ratu Prabu, Bur Maras said.