Korean firms sign MoU to develop S. Kalimantan coalmine
Friday, October 8 2004 - 10:18 AM WIB
South Korean firms Korea Resources Co. and Daewoo International Corp. on Friday signed a preliminary agreement with PT. Wahana Baratama, a unit of Kalimantan coalminer Gunung Bayan Group to co-develop a coal mine in South Kalimantan area.
The MoU was signed in Bali during a bilateral meeting between Indonesia and South Korea to enhance energy and mineral resources cooperation.
According to Petromindo.Com data, Wahana had completed feasibility study on the mine and is currently applying for construction stage.
The company?s mining concession is located in Satui district, on the northern part of South Kalimantan bordering with Java Sea. Wahana planned to apply underground mining on the concession.(godang)