Mitra Investindo eyeing S. Kalimantan coal mine
Friday, June 8 2007 - 01:22 AM WIB
JSX-listed granite miner PT.Mitra Investindo is planning to acquire a coal mine in Tabalong regency, South Kalimantan .
The company said in a filing with the JSX Thursday that the mine has reserves of between 10-20 million tonnes with calorific value of around 5,800Kcal/kg.
The mine could commence production in December 2007, the company said, but falling short to reveal production estimate.
The company is currently in due diligence stage and if it decided to proceed with the acquisition, would issue new shares for the financing. (alex)