Adaro pays plantation firms $60m to secure mining right
Tuesday, September 2 2008 - 03:12 PM WIB
South Kalimantan coal miner PT.Adaro Indonesia has paid US$60 million to three palm oil plantation firms which area overlaps with Adaro, parent company PT.Adaro Energy reported on Tuesday.
Adaro Energy said Adaro Indonesia had settled the payment on August 28, 2008 to PT.Cakung Permata Nusa, PT.Cakradenta Agung Pertiwi and PT.Astra Agro Lestari.
According to Adaro Energy report, the overlapped area covered more than 7,000 hectares of land.
With the compensation, Adaro could now conduct mining activity within the overlapped area. The plantation firms, on the other hand, could still continue their activities within the area until a certain period. (alex)