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Tuesday, October 11, 2011


Tuesday, 11 October 11

PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sarolangun regency, Jambi province, according to media reports in Indonesia. Sharad Ugrankar, Director of Renuka Coalindo, in an official announcement filed to Indonesia Stock Exchange lastweek said the company has entered into a share sale and purchase agreement with PT Surya Commodities, owner of Jambi Prima Coal. PT Renuka Coalindo Tbk is a subsidiary of Renuka Energy Resource Holdings (FZE).

Insider stories reported that, Jambi Prima is a company that is holding a coal business license of concession in Pauh, Sarolangun, Jambi, Sumatra. However, the announcement hasn't declared yet about the acquisition price.

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(sourced coalspot)

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