News and Announcements
Padang Advances Due Diligence on the Paser Project, East Kalimantan
- Published April 19, 2012 2:21AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Padang Resources Limited (ASX: PXR) (Padang or Company) is pleased to announce that it has received a Legal Due Diligence Report on the company/permit holder and title of the Paser Project, East Kalimantan.
The report validates that the permit holder has been registered at Ministry of Law and Human Rights, Indonesia and has dully obtained a Mining License for the Operation and Production (Izin Usaha Pertambangan Operasi Produksi or “IUP”) of Coal within the permit area which administratively is located in the Petangis Village, Batu Engau District, Paser Regency, East Kalimantan. The IUP gives the permit holder the right to conduct the activities of construction, production, hauling, sale and refining of coal in the Mining Area.
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