Cita Mineral obtains $10m loan
Thursday, October 22 2015 - 02:05 AM WIB
By Romel S. Gurky
IDX-listed mining firm PT Cita Mineral Investindo Tbk said that it has obtained a US$10 million loan from IDX-listed PT Bank OCBC NISP Tbk.
The company said in a statement Wednesday that the lending agreement was signed on October 19. The loan will be used to finance general corporate purposes, the company added.
Cita Mineral through a joint venture company PT Well Harvest Wining Alumina Refiney is developing a $1 billion alumina smelter in Ketapang, West Kalimantan. Cita Mineral owns 25 percent of Well Harvest, with the remaining 75 percent held by China?s Hongqiao Group Ltd.
Editing by Reiner Simanjuntak