GEMS lends $50m to subsidiary
Saturday, November 9 2013 - 03:51 AM WIB
By Romel S. Gurky
IDX-listed PT Golden Energy Mines Tbk (GEMS) has lent US$50 million to its subsidiary PT Kuansing Inti Makmur (KIM) an agreement signed on November 6, 2013.
The company said in a statement Friday that the loan would be used for capital and to fund the development of coal infrastructure facilities.
KIM is a coal miner with 2,610 ha concession in Bungo Regency, Jambi.
Editing by Reiner Simanjuntak