Cita Mineral sets up alumina smelter JV with Chinese firms
Thursday, May 3 2012 - 02:13 AM WIB
By Alexander Ginting
IDX-listed firm PT Cita Mineral Investindo reported on Wednesday that it has signed deal with two Chinese companies to set up JV to build alumina smelter in Indonesia.
The company said it has signed JV agreement on April 30, 2012 with China Hongqiao Group Limited and Winning Investment (HK) Company Limited with respective stake of 60 percent, 10 percent and 30 percent.
The company did not give further detail about the smelter?s planned capacity.
Cita Minerals, which is controlled by Lim family has 90 percent stake at PT Prima Harita Abadi Mineral and PT Karya Utama Tambang Jaya, both are top bauxite producers with mines located in Ketapang regency, West Kalimantan.