J Resources divests entire ownership in nickel mining unit
Saturday, September 21 2013 - 03:48 AM WIB
By Romel S. Gurky
IDX-listed precious metals mining company PT J Resources Asia Pasifik Tbk through subsidiary PT J Resources Nusantara has sold its entire 80 percent stake in nickel mining firm PT Bukit Makmur Istindo Nikeltama to a company called PT Istindo Marunda Graha Perdana (Istindo), the company said in a statement to IDX on Friday.
The transaction is valued at Rp 2 billion. Istindo previously owned a 20 percent stake in Bukit Makmur, which operates a 4,998 hectares of nickel concession in Petasia sub-district, Morowali Regency, Central Sulawesi.
Editing by Reiner Simanjuntak