Bumi Resources acquires second gold mining project
Friday, October 28 2005 - 06:15 PM WIB
Indonesia's top coal mining house PT.Bumi Resources has entered into Sale and Purchase Agreement to acquire 100 percent stake of International Mineral Company, LLC (IMC) from global resources company BHP Billiton for US$8 million.
IMC has 80 percent shares in PT.Gorontalo Mineral, a company which owns a gold mining project in Gorontalo province in the northern part of Sulawesi. The remaining 20 percent shares in Gorontalo Minerals is held by state nickel and gold miner PT.Aneka Tambang Tbk.
The company did not give detail about the potential of the project.
Earlier this year, the company had also signed deal to acquire PT. Citra Palu Minerals, a gold mining prospect in Central Sulawesi from Newcrest Mining Limited. (alex)