MSC disposes C. Kalimantan coal concession

Malaysia-listed company Malaysia Smelting Corp. Berhad (MSC) reported on Thursday that it has reached deal to sell its 30% shares Asiatic Coal Pte Limited (ACPL) with Taurus Capital Limited. Prior to the deal, Taurus holds 40% shareholding in ACPL.

MSC?s 76.91% subsidiary, Australia Oriental Minerals NL (AOM) has also executed the agreement to dispose of its 30% shareholding in ACPL.

MSC and AOM agreed to sell their shares at ACPL for US$4 million, MSC said.

ACPL, through its Indonesian subsidiary, has exclusive rights over a coal mining concession at Muara Teweh in Central Kalimantan. The company did not give further detail. (alex)