ATPK Resources denies to have sold SMU mine to Borneo Emas Hitam
Thursday, March 7 2013 - 02:27 AM WIB
IDX-listed PT ATPK Resources denied an earlier report in Petromindo.com suggesting that the company has sold its 70 percent stake in PT Sarana Mandiri Utama (SMU) coal mine.
The company said in a statement that its subsidiary PT Modal Investasi Mineral (MIM), which owns the 70 percent stake in SMU, has never sold the mine to PT Borneo Emas Hitam as reported in this news portal on February 28, 2013.
It added that since obtaining shareholder approval on June 28, 2012 to divest the SMU stake, the company has offered the stake to other parties but so far the divestment effort has not been successful.
Quoting an industry source, Petromindo.com reported earlier that Borneo Emas Hitam is planning to sell its stake in the newly acquired SMU coal mine, located in Bulungan Regency, East Kalimantan.
Editing by Reiner Simanjuntak