Coziron to form lead trading business
Friday, February 1 2008 - 07:54 AM WIB
Australian mining firm Coziron Resources Limited announced on Friday that it has entered into Heads of Agreement (HoA) to joint venture (JV) with local firm PT Galian Endapan Buana (GEB).
Coziron is holding 80 percent in the JV and the remaining balance hold by GEB.
According to the company, GEB has a lead exploration concession in Solok Selatan, West Sumatra, and it is applying for a lead mining and export licenses from West Sumatra administration.
GEB is expecting to have the licenses before 15 February 2008.
Coziron will be responsible for the processing, marketing and sales of the lead ore, it said. It is targeting exports of 24,000 tonnes of lead ore per annum. (denny)