Perpetual in final negotiation with land owners to start coal production
Tuesday, August 1 2017 - 01:29 AM WIB
By Romel S. Gurky
ASX-listed Perpetual Resources Ltd said on Tuesday that its Indonesian coal mining unit PT Atoz Nusantara Mining (PANM) is in the final stages of negotiation with local landowners to commence coal production at its coal mine in West Sumatra.
Perpetual Resources said in a statement it is entitled to receive royalty of US$3 per ton for all coal sold from the Atoz site. No further details were provided.
The Atoz coal project is located 60 kilometers south of Padang in the central west of West Sumatra Province. The project covers 192.08 hectares and has an approved production license.
Editing by Reiner Simanjuntak