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Tuesday, 14 August 12
SAKARI ENTERED INTO JV IN CAMBODIA TO EXPLORE COAL OPPORTUNITIES


COALspot.com - Sakari joints hands with The Royal Group of Companies in Cambodia to explore and develop coal opportunities throughout the country.

The press statement posted on company’s website says, a Joint Venture in Cambodia, which is Sakari’s first venture outside of Indonesia and into one of South-East Asia’s new mining frontiers.

Sakari has also signed a Heads of Agreement (HOA) recently to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, located some 30km to the north of Sakari’s Jembayan Mine in East Kalimantan.

The report further said that, Sakari has commenced coal exploration activity over an initial area totaling approximately 100,000 hectares in Cambodia.

The start of work follows the signing of a Joint Venture with The Royal Group of Companies, Cambodia for exploration and development of coal opportunities throughout the country and the initial acquisition of exploration rights over prospective land holdings by the JV.

The Royal Group is one of Cambodia’s leading business groups, as stated in statement. Sakari will exercise management control of the JV with 70% of the initial equity along with the obligation to fund exploration and pre-feasibility activities.

About Sakari:
Sakari (SGX: SAR) is a coal company with a focus on supplying thermal coal to major power utilities and industrial users in Asia. Production from Indonesia in 2011 was 10.7Mt, making it one of the country’s largest thermal coal exporters.



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