Padang Resources gets legal due diligence report on Paser project

By Romel S. Gurky

Australian-listed firm Padang Resources Limited said that it had received a legal due diligence report on the company and title of its Paser Project in East Kalimantan.

The company said in a press statement on Thursday that the report validated that the company as the permit holder had been registered at the ministry of law and human rights, and had obtained a mining license for the operation and production (Izin Usaha Pertambangan or IUP) of coal in Petangis Village, Batu Engau District of Paser Regency in East Kalimantan.

The IUP gives the company the right to conduct the activities of construction, production, hauling, sale and refining of coal in the mining area.

It has also been confirmed that the IUP is listed with the status of "clean and clear" on the official listing of Clean and Clear IUPs published by the Directorate General of Mineral Resources and that the IUP is therefore considered valid.

Editing by Benget Besalicto Tnb.