JAKARTA - PT Indika Mineral Investindo (IMI), a subsidiary of PT Indika Energy Tbk (INDY) is investing US$ 40 million or equivalent to Rp 544 billion in PT Masmindo Dwi Area (Masmindo).
As quoted from the disclosure published by the IDX on Wednesday (26/2), Corporate Secretary of Indika Energy, Adi Pramono, said that the company had signed a non-binding term sheet with Nusantara Resources, Indika, PT Petrosea Tbk (PTRO, Indika's subsidiary), and Masmindo for the Awak Mas project.
Masmindo is a subsidiary of Nusantara Resources Ltd (NUS), a company listed on the Australian Exchange, which will be Indika's partner in managing the mine.
For now, IMI will invest US$ 15 million to purchase 25% of Masmindo's shares, providing that the plan is agreed by both its shareholders and the Ministry of Energy and Mineral Resources (ESDM). (ARM/AR)