Rio Tinto hands over $175,000 for community development in E. Kalimantan
Monday, November 18 2002 - 10:45 AM WIB
Rio Tinto, 50-percent owner of East Kalimantan-based coal mining giant PT Kaltim Prima Coal (KPC), on Monday handed over US$175,000 to a local foundation which will use the fund for community development programs.
The $175,000 was a portion of Rio Tinto?s dividends from the operation of KPC in 2001 and 2002, Rio Tinto said in a press release.
Rio Tinto Indonesia president director Lex Graefe handed over the fund to Tom Malik, chairman of the foundation, Yayasan KPC-Kutim Bangun Bangsa, in a ceremony in Sangatta.
The fund will be used for agricultural, educational and health care development projects in East Kalimantan, and the development of small and medium enterprises in the area.
Rio Tinto and BP Plc equally own KPC which operates a huge coalmine in East Kutai Regency, East Kalimantan. (leo)