Altura is pleased to announce that it has acquired a one third (1/3) equity stake in an operating coal mine located in East Kalimantan, Indonesia. The acquisition cost of US$25 million comprises an initial payment of US$12.5 million with the balance payable in equal instalments over the next 3 years. The investment signifies the change from explorer to producer for Altura with plans for further coal mine developments in Indonesia.
Altura Acquires one-third Interest in Indonesian Coal Mine
Posted in 2013 ASX