PSL eyeing Jambi coal mine acquisition
Friday, May 25 2012 - 01:57 AM WIB
By Alexander Ginting
Singapore Exchange-listed crane rental firm PSL Holdings Limited reported on Thursday that it has signed an MoU with an Indonesian national to acquire a coal mine concession in Jambi.
The company did not give further detail about the concession, but said the non-exclusive MoU will expire on August 23, 2012.
The company has just completed this month 11.5 percent acquisition of Sindo Resources Pte Ltd, which controls PT Bubuhan Multi Sejahtera, a company with mining rights over at least 25 MT of coal reserves in Jambi.
Editing by David Mustakim