CVM seeking investors for RI?s projects
Friday, April 27 2012 - 11:18 AM WIB
By Romel S. Gurky
Hong Kong-listed firm CVM Minerals Limited said in its quarterly report that the company is seeking investors or strategic partners for its group?s projects in Indonesia.
CVM?s indirect Indonesian subsidiary, PT Rimbaka Mining Makmur (RMM) earlier signed a Memorandum of Understanding (MoU) with PT Harita Mineral Jaya Abadi to cooperate on an iron ore mining venture in Aceh.
Under the MoU, Harita will conduct due diligence review on the project for one year to determine its feasibility.
RMM is a holder of an exploration right in an area of 1,500 hectares located in Penuntungan Village, Penanggalan Subdistrict, Kota Subuluhsalam, Aceh.
Editing by Adianto P. Simamora