Thursday, January 21, 2010

South Korean mining JV with SE Sulawasi province

South Korea’s Future Green Human Group (FGH) and the government of Indonesia's Southeast Sulawesi province have agreed to form a gold mining joint venture. The note of agreement was signed by Southeast Sulawesi Governor, Nur Alam, the President Director of FGH Group Indonesia, Park Soon Up and Chairman of FGH Group, Oh Myung Suk.

Governor Alam told media he welcomed the Korean investors in natural resources management, "especially in the gold mine in Bombana regency". The Koreans will operate the mine and also develop a 50-100 MW power plant for its project use and to supply to power consumers in the province.

FGH’s current mining assets in Indonesia are held by its subsidiaries, PT Samantaka Mineral Prima in Sumatra, PT Ridlatama Mining Utama in Kalimantan and PT Sarmi Papua Asia Oil in Papua.

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