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Tuesday, 21 April 09
MITRA RAJASA TO ACQUIRE TWO MINING COMPANIES - THE JAKARTA POST


PT Mitra Rajasa Tbk plans to acquire PT Realita Jaya Mandiri and PT Masindo Artha Resources in South Sumatra, which are worth around US$40 million.

"The funds for the acquisition will come from loans and internal cash sources. The company is now also negotiating with two banks in connection with the acquisition plan," the company's director, Tito Sulistio, said in Jakarta on Monday, as quoted by state new agency Antara.

He said PT Realita Jaya Mandiri was operating in the mining sector and held a license for mining and operating on 1,598 hectares of land in Musi Banyuasin, South Sumatra.

PT Mashindo Artha Resources meanwhile holds a license for mining on 5,600 hectares of land and another 4,400 hectares of land in Musi Banyuasin, South Sumatra.

"Coal reserves in the three locations are estimated to reach more than 100 million tons," he said.

He said the process of valuation on the two companies was not yet completed and was expected to be finished by the end of this month.
Source:http://www.thejakartapost.com/news/2009/04/20/mitra-rajasa-acquire-two-mining-companies.html



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