Canada?s KAL Energy acquires Kalimantan coal concessions
Tuesday, January 2 2007 - 10:31 AM WIB
Vancouver-based firm KAL Energy announced on Friday it had acquired 100 percent shares of Singaporean firm Thatcher Mining Pte Ltd.
Under the agreement KAL will acquire 100% of Thatcher by issuing 32,000,000 restricted shares.
Thatcher has the rights to two coal concessions situated near the Mahakam River in East Kalimantan, KAL said. The company did not give detail about the concessions. (alex)