Delta to decide fate of subsidiary once coal price recovers
Thursday, September 15 2016 - 12:57 AM WIB
IDX-listed coal mining services company PT Delta Dunia Makmur Tbk said on Wednesday it will decide on the fate of its coal mining subsidiary PT Pulau Mutiara Persada (PMP) once the coal price has recovered.
The company said in a statement that the IUP mining business permit held by PMP expired on May 24, and the company will consider whether to extend the permit when coal price has improved.
The PMP permit covers a 3,500-ha coal concession in Jambi Province. As has been previously reported, Delta has also suspended coal production at East Kalimantan subsidiary PT Banyubiru Sakti due to the price downturn.
Editing by Reiner Simanjuntak