Interra increases stake in MITI

By Romel S. Gurky

SGX-listed Interra Resources Limited announced Wednesday that it has bought 16,700,000 shares in IDX-listed granite mining firm PT Mitra Investindo Tbk (MITI) (equivalent to 1.30% of the issued share capital of MITI) for an aggregate cost of Rp 3,679,511,000 (approximately US$0.30 million) through open market on the Indonesia Stock Exchange (IDX).

Following the aforesaid share purchase, the company now holds 53.76 percent of the total issued share capital of MITI.

MITI has 100 percent interest in the Bukit Piatu Mining Operating Licence a granite quarry located in Bintan, Riau Islands province and 90 percent interest in the Linda Sele Technical Assistance Contract located onshore West Papua.

Editing by Reiner Simanjuntak