ATPK?s unit to sell Lampung coal mine
Monday, January 3 2011 - 01:05 AM WIB
PT Modal Investasi Mineral (MIM), a unit of Indonesia Exchange-listed mining firm PT ATPK Resources Tbk, would sell the stake in its Lampung coal unit, PT. Saptajaya Menjak Sewengari.
Director operation of ATPK, Saur Maruli Silalahi said recently that MIM will sell entire share of 70 percent to businessman Amin Fauzy AT, which also has 30 percent share in the Septajaya.
He said that the mine is not feasible due to lack of reserves.
The negotiation is still going on and it expected to be concluded soon, he added.
The mine, which still in exploration stage has an area of 2,000 hectares of land. (giok)