Asia Resources eyeing E. Java iron ore mine acquisition

Monday, July 27 2009 - 06:08 AM WIB

Hong Kong-listed firm Asia Resources Holdings Ltd said on Monday that it has signed nonbinding memorandum of understanding (MoU) to invest in iron ore mine in East Java.

Under the MOU, the company will take 55 percent stake and form a joint venture.

The company said the mine covers an area of 1,195 hectares. (denny)

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