Malaysia?s Techventure eyes Indonesian coal, gold concessions

Malaysian firm Techventure Berhad said it was planning to acquire coal and gold concessions in Indonesia through its subsidiary TVB Global Marketing Sdn Bhd.

The company said in a quarterly report to Malaysian Exchange that TVB is in discussion to acquire coal mining company which owns mining concession in Bengkulu and had also entered into an option agreement with PT Tri Optima Perkasa (TOP) to acquire up to 80% equity interest in TOP which has right to explore and exploit a coal mine in Jambi.

The company did not give further detail.

The company said it was also considering the exploration and exploitation of a gold mine in Sumba Island.

The company also reported that it had decided to cancel plan to acquire shares of TNB Coal International Limited, which owns several coal mining concessions in South Kalimantan due to unfavorable conditions.(alex)