Mainboard listed coal company Sakari Resources Limited announced two new coal exploration developments in Cambodia and Indonesia.

The first is JV signed with The Royal Group of Cambodia its first venture outside Indonesia which would enable it to explore and develop coal opportunities throughout Cambodia as well as acquire exploration rights over prospective land holdings by the JV.

Sakari said that it has already started coal exploration activity over 100,000 hectares in Cambodia. It will have management control of the JV with 70% of the initial equity, along with the obligation to fund exploration and pre feasibility activities.

The second is a heads of agreement signed to acquire up to six mining exploration licenses in Indonesia, covering an area of over 29,000 hectares.

Source - Business Times.com

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