Ratu Prabu to acquire Indonesia Resources
Friday, April 24 2009 - 01:38 AM WIB
Publicly listed firm PT Ratu Prabu Energi Tbk. plans to acquire 75 percent stake in local miner firm PT Indo Asia Resources for $500 million this year, Investor daily reported Friday.
Ratu?s president B. Bur Maras said that the company was cooperated with two foreign firm to buy 75 percent stake in Indo Asia. ?At the present, two Asia-based firms have joined with us to develop coal and gold mine,? he said, without giving further details.
PT Indo Asia Resources has a gold mine in East Kalimantan and coal mine in Bengkulu province. (*)