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Background Information
Background Information
Earth Fortune Limited is a British Virgin Islands company set up to develop mining operations as well as exploration rights in Indonesia. Currently, it holds 80.2% stakes in a foreign owned Indonesian Company, PT Earth Fortune (incorporated on 28 August 2008) and a local Indonesian Company, PT Galtam Sumatera Minerals (the latter of which is held indirectly via Mineral Bull Limited of Singapore).
In April 2010, the Regent (Bupati) of Musi Rawas has granted PT Galtam Sumatera Minerals an IUP Operation Production No.37/KPTS/DISTAMBEN/2010 dated 19 April 2010 and in June 2011 obtained a “Clean and Clear” “IUP” that is fully in compliance with the current government regulations issued by ESDM.
The legal ownership of Mineral Bull Limited’s holding in PT Galtam Sumatera Minerals is under process. Completion of the legal process will take place within 2013.
 Company Structure |