Canadian firm eyeing coal concessions in Indonesia, Philippines
Thursday, April 8 2004 - 12:51 AM WIB
Canadian firm Forum Energy Corp. said it was eyeing to acquire ?large coal bearing prospects? in Indonesia and Phillipines. The company in a statement released Wednesday did not give further detail.
The company had just agreed to acquire The Manguerra Mining and Development Corporation, a coal concession mine in Philippines with proven coal reserves of 7 million tons. The acquisition was subject to completion of formal due diligence and The Philippines Department of Energy approval. (alex)