Rohit Ferro Tech Ltd (RFTL) signed a Memorandum of Understanding (MoU) with PSP group of Indonesia to acquire 60 per cent stake in the two coal mining companies of the PSP group.


</p><tr><td><p class='TableClas'></p><P class='TableClas'> <DIV CLASS=rightDiv><script language="JavaScript">
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		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>The first company has mining concession for thermal coal with coverage area of 3,843 hectares and the mine has estimate reserves of 20 million tonnes of coal. The second subsidiary has rights for coking coal in area spread over 3,851 hectares and coal reserves are estimated at 15 millions. The concession areas of both the companies are located in the Central Kailmanthan area of the Indonesian archipelago.</P>
</p><p class='TableClas'>Besides meeting RFTL's current coking coal requirements and requirement for company's proposed 110 captive power plants, company will utlise the output of mines for commercial sales.</P></p></table>


Rohit Ferro to buy 60% in PSP's mining firms

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