Integrasi Teknologi enters C. Sulawesi nickel exploration ventures
Tuesday, February 19 2008 - 05:14 PM WIB
IDX-listed firm PT.integrasi Teknologi Tbk announced on Tuesday that its subsidiary PT.Leo Resources (LR) has signed deal with two concession holders to explore for nickel in Morowali regency, Central Sulawesi.
Under the deal with PT. Indonesia Multi Energi, LR was exclusively appointed to conduct exploration on the former?s 9,544 hectares concession.
The company had also signed similar deal with PT.Sumber Daya Persada to conduct exploration on the latter?s 8,027 hectares concession.
LR will have right to operate the mines should they proceed into production stage and would pay royalty for every tonne of ore produced to concession holders.(alex)