Jakarta-PT Kutai Energi Bara prepare a capital expenditure of U.S. $ 125 million to support gold mining exploration in three blocks are located in Gorontalo Pani and Bakan and Doup located in North Sulawesi.
Director of PT.KEB Edi Permadi disclose capital expenditure (capital ecpenditure / capex) to block Bakan and Doup each pegged at U.S. $ 25 million. "We spend as much as two to three times to block Pani," he said last week.
Kutai Energi Bara acquires two assets owned by Avocet Mining Plc's U.S. $ 200 million. The acquisition was made through an investment company that is owned by Jimmy Budiarto JPartners LP. Both assets are sold at Avocet was composed of 100% shares Penjom gold mine in Pahang, Malaysia and 80% stake in PT Avocet Bolaang Mongondow.
The latter company controls the gold mine and Bakan North lanut in North Sulawesi Both productive assets were later handed JPartners over to the PT.KEB , which in February acquired two gold mines owned by PT Arafura Surya Alam and PT Kutai Surya Mining.JPartners and PT.KEB is still affiliated.
In the third quarter of that, Avoced hope the process of releasing the five other companies whose assets could be completed once won approval from the Government of Indonesia in particular.
The five assets is 60% project properties Doup-East Sulawesi, 51% of the project properties Seruyung-East Kalimantan, 75% stake in PT Gorontalo Sejahtera Mining including projects Pani, 100% stake in PT Avocet Mining Services and AAvocet Mining OHO Sdn Bhd.