S. Korean consortium buys stake in Indonesian coal mine
Monday, July 23 2012 - 12:36 AM WIB
A South Korean consortium led by state-run Korea Resources Corp. (KORES) has bought a 30-percent stake in Indonesia's Kintap coal mine, according to Yonhap News quoting an industry source as saying.
The stake purchase of the mine in Kalimantan cost US$30 million, with KORES taking control of 15 percent of the stakes and consortium partners POSCO Energy and Aju Industry Co. each took 7.5 percent.
No further details were available.(*)