MetroCoal eyeing stake at Indonesia coal project
Thursday, August 26 2010 - 02:45 AM WIB
ASX-listed firm MetroCoal Limited announced Thursday that it has signed an agreement with an Australian entity holding a 100% interest in Indonesian coal exploration project areas.
MetroCoal has invested A$130,000 and will hold twenty percent of the expanded capital of this entity and has an option to increase this holding to 51% after completion of further due diligence, it said.
The due diligence result is expected in early to mid September, it said. (kanthi)