Rosan Resources to inject $3.42m in RI aluminum mining firm
Saturday, August 24 2013 - 04:10 AM WIB
By Romel S. Gurky
Hong Kong-listed Rosan Resources said on Wednesday that its subsidiary Xinfa Investments Ltd has entered into a capital injection agreement with Honest Oasis Ltd.
Under the deal, the two companies will inject a total of US$18 million, of which $3.42 million to be injected by Xinfa, to a target company registered in Indonesia. Most of the funds will be used to acquire a 50 percent equity stake in the Indonesian company, which is engaged in aluminum mining-related business.
Rosan is engaged in coal production and sales in Henan Province, China.
Editing by Reiner Simanjuntak