Asia Resources gets IUP-OPK for Dampar
Wednesday, February 27 2013 - 06:35 AM WIB
Hong Kong-listed Asia Resources Holdings Limited recently stated it has received IUP Operation Production licenses from the Regent of Lumajang, East Java for the concession belonging to its 55 percent owned PT Dampar Golden International on February 25.
"(The Regent stated that) Dampar has met the requirements under relevant laws and regulations and is granted the IUP OPK Licence for Processing and Purifying for a term of 3 years from 20 February 2013," the company stated in a statement made available at the exchange.
Under the said licence, Dampar is permitted to carry out processing and refining activities of iron sand exploited by other holders of people?s mining permit, and by holders of mining exploration permit on production operation located within the territory of Lumajang Regency, East Java.
As previously announced on January 2, the company acquired 55 percent of the equity interests in Dampar, a company incorporated in Indonesia which was granted exclusive rights and authorities to manage and arrange all mining-related activities in the designated site of iron deposits in Indonesia and the application for mining business licence. The operation of Dampar currently is still in preliminary stage.
Editing by Er Audy Zandri