Ancora Resources signs loan agreement
Wednesday, October 19 2011 - 03:52 AM WIB
PT Ancora Indonesia Resources Tbk, a diversified natural resources company, signs US$25 million loan facility agreement, with several banks, including Standard Bank Plc.
Ancora?s president director, Dharma Hutama Djojonegoro, said the company signed the loan deal on Monday.
He did not disclose the purpose of the loan.
However, earlier, Ancora?s finance director Aulia M. Oemar said that the company had received a commitment from a bank to provide $25 million loan facility. The fund, he said, would be used to partly acquire coal mining company PT Raja Kutai Bumi Makmur, which operates a coal mine in East Kalimantan. (romel)