PT Petrindo Jaya Kreasi Tbk (CUAN) is set to acquire a silica sand mine in East Kalimantan. This acquisition will be carried out through CUANs subsidiary, PT Prima Mineral Investindo (PMI).
PMI has entered into a conditional sale and purchase agreement (PPJB) regarding the planned acquisition of 85% of the shares of PT Sepekat Salut Sejahtera (SSS).
Sepekat Salut Sejahtera currently holds a mining business license (IUP) for silica sand in Kutai Kartaegara, East Kalimantan, covering an area of 98.61 hectares, said Michel, the President Director and Corporate Secretary of Petrindo Jaya Kreasi, in a disclosure to the Indonesia Stock Exchange on Tuesday (31/10).
Michael added that the transaction will be completed upon obtaining approval from the Minister of Energy and Mineral Resources.
According to the initial formation objectives, Michael stated that PMI would eventually become one of CUANs subsidiaries, acting as a holding company for businesses engaged in various mineral mining activities, particularly in the field of silica sand/quartz.
The addition of assets in the form of a silica sand mine is in line with Petrindos strategy to diversify its business, said Michael.
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Source >>>https://industri.kontan.co.id/news/anak-usaha-petrindo-jaya-kreasi-cuan-akan-akuisisi-tambang-pasir-silika
Source https://djakarta-miningclub.com