S. Africa Ingwe buys RI coal firms
Monday, August 28 2000 - 03:30 AM WIB
South African mining giant firm Ingwe had acquired share in local mining firms PT Wirakanio and PT Tarako, which are exploring for coal in East Kalimantan, a senior official at the Ministry of Energy and Mineral Resources said.
Ingwe, which is the world's largest coal producer is an affiliate of mining giant Billiton.
Coal director Suyartono said on Monday Wirakanio and Tarako were exploring for coal in the Pasir and Kutai regencies respectively.
He did not reveal the number of shares bought by Ingwe.
Suyartono said the acquisition had been approved by the House of Representatives and State Enterprises Development and the President.
New Minister of Energy and Mineral Resources Purnomo Yusgiantoro is expected to soon sign the change of status of both companies from local investment to foreign investment. (--godang sitompul--)