Sumalindo eyeing cooperation with 6 IUP holders

By Hisky Damayana

IDX-listed forestry firm PT Sumalindo Lestari Jaya Tbk, through subsidiary PT Suli Inti Resource is making its way into the coal mining business, considering the possibility of acquisition or joint venture with six companies whose IUP licenses are overlapping with the company's forestry permits (HPH and HTI) in East Kalimantan.

?Some of these companies have started their exploration drilling, while others are still in even earier stage," said Sumalindo Lestari Jaya President Director David in Jakarta, adding that the company is still evaluating the potential of each concessions, expecting to obtain production IUP licenses for prospective concessions.

Editing by Audy Zandri