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    coal investing

    PHI Group PHI Energy Corp and Garuda Coal to Engage in Coal Mining and Coal Trading in Indonesia

    Investing News Network
    Feb. 24, 2011 08:54AM PST
    Industrial Metals

    PHI Energy Corp. (OTC:PHIE,FRA:PR7) announced the signing of a letter of intent with Garuda Coal Pte LTd. as part of a joint venture to pursue coal mining in Indonesia.

    PHI Energy Corp. (OTC:PHIE,FRA:PR7) announced the signing of a letter of intent with Garuda Coal Pte LTd. as part of a joint venture to pursue coal mining in Indonesia.

    The press release is quoted as saying:

    PHI Energy will be the controlling shareholder in the joint venture company, providing off-take contracts and financing to the project while Garuda Coal will be responsible for securing necessary concessions rights and managing local administrative and regulatory affairs.

    To read the full press release, click here.

    coal investingcoal mining in indonesiajoint venture
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