Transportation and selling license awarded to Asia Resources
Thursday, January 3 2013 - 08:04 AM WIB
Hong Kong-listed Asia Resources Holding Limited said that East Java administration has recently granted license for transportation and selling to the company's subsidiary PT. Dampar Golden International (Dampar).
The permit would allow Dampar to transport and sell iron sand in accordance with service agreement signed between Dampar and the IUP Holder, PT Indo Modern Mining Sejahtera.
It said that Dampar has already commenced limited operation as permitted under the IUP OPK license for transportation and selling.
Dampar Golden International is an indirect non wholly-owned subsidiary of the company with 55 percent shares owned by Mighty Kingdom Investments Limited, a wholly-owned subsidiary of the company, 40 percent by PT Indo Modern Mining Sejahtera and 5 percent by Empire Bridge Assets Limited.
Editing by Adianto P. Simamora