Jakarta-PT Agis Tbk to establish cooperation with Fujian Xinjifu Enterprise of Fujian, China, by forming a joint venture to pass a plan to diversify the mining sector.

"This deal was marked by the signing of an agreement to form a joint venture with Fujian," said Managing Director of Agis,Steven Kesuma in a statement here on Tuesday.

Steven added, the two companies jointly invested in terms of assets and operations in the field of natural resources in Indonesia. Authorized capital of the joint venture was $ 50 million U.S. dollars or about Rp457 billion, which is gradually deposited.

"Agis will retain 51 percent ownership in the joint venture company, while Fujian will retain 49 percent ownership of the rest," he said.

Fujian Xinjifu is a private company from China who are experienced in several types of mining, factory production and trade of basic metals.

At the same time, he continued, the company also signed a cooperation agreement with three parties, namely Agis, GMG International Engineering & Equipment Co.. Ltd., as well as Sterling Goldhill Sdn. Bhd. in order to import and export as well as cooperation agreements (cooperation agreement).

"This cooperation is especially to perform activities in the field of gold mining operations," he said.

GMG International is a subsidiary of Guangdong Machinery Imp & Exp. Co., Ltd.., Which is a state-owned enterprises from China who are very experienced in mining operations. GMG International has long formed a partnership with energy companies in Indonesia, including PT PLN Persero