Sep 14, 2011

Duta Pertiwi discovers coal reserve

PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discovers coal reserves of 200 million tons.
Duta Pertiwi President Director Siang Hadi Widjaja, as quoted by Bisnis Indonesia today, said the coal reserve discovery is a result of area survey in Jambi province, Sumatra.
Duta Pertiwi will invest Rp200 billion or US$23 million to explore the reserves. But, it seeks approval from the government. Duta Pertiwi is expanding its business into coal sector through its subsidiary PY Intitirta Prima Sakti.

Disclosure: No position at the stock mentioned above.

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