Citra Mineral signs $100m loan agreement
Wednesday, October 16 2013 - 08:40 AM WIB
IDX-listed mining company PT Cita Mineral Investindo Tbk said Wednesday that it has signed a US$100 million lending agreement with DBS Bank and Overseas Chinese Banking Corporation.
The agreement was also signed by three of its subsidiaries including PT Harita Prima Abadi Mineral, PT Karya Utama Tambangjaya, and PT Sandai Inti Jaya Tambang.
The loan will be used to finance working capital and investment as well as refinance existing loans, the company said, but did not elaborate.
Cita Mineral, which is controlled by Lim family has 90 percent stake in PT Prima Harita Abadi Mineral and PT Karya Utama Tambang Jaya, both are top bauxite producers with mines located in Ketapang regency, West Kalimantan.
Editing by Reiner Simanjuntak