Jakarta, December 17, 2012 - PT AGIS Tbk through its subsidiary, PT Agis Resources, on Friday (14/12/12) has signed another CSPA (Conditional Sale and Purchase Agreement) with gold mining concession owners, to acquire the Gold mining concession in West Sumatera. In the CSPA, PT Agis Resources will be the majority shareholders (more than 60%) in the company that owns the gold mining concession. The Exploration permit (IUP) covers an area of more than 2,500 hectares. Thereby PT Agis Resources will control two gold mines in West Sumatra.
The signing of the CSPA is PT Agis Tbk step forward towards its diversification plans into the mining sector. PT Agis Resources expects to begin its operations in the mining business as soon as possible to start providing value add to the PT AGIS Tbk. consolidated revenues.
PT Agis Resources at a glance.
PT Agis Resources is a Joint Venture Company between PT AGIS Tbk. and Fujian Xinjifu Enterprises Group Co. Ltd. from China. As part of PT AGIS Tbk’s efforts on diversifying its business into natural resources business. PT Agis Resources focus in investing and developing it's prospective mining concessions in Indonesia with the assistance of industry experts from China state own enterprise exploration and mining contractors. PT Agis Resources also has interest in developing smelter plant in Indonesia.