Singapore firm buys S. Kalimantan diamond mine
Thursday, November 3 2011 - 03:41 AM WIB
UK-listed diamond mining firm Gem Diamonds Limited announced on Wednesday that it has completed the sale of its 80% interest in its alluvial diamond mining company, PT Galuh Cempaka in South Kalimantan , on 28 October 2011 for US$5 million.
The buyer is Singapore-based Tan & Chong's Gem Pte. Ltd.
The mine?s operations has been suspended over the past few years due to falling price of diamonds.
The remaining 20 percent balance in PT Galuh Cempaka is owned by state miner PT Aneka Tambang Tbk. (alex)