Tech Pro moves on Indonesian iron mine

Hong Kong-based Tech Pro Technology Development has entered into a non-legally binding MOU with Lam Chong-san, an independent third party, regarding possible acquisition of the entire issued share capital of a target company which will carry out reorganization and restructuring before the possible acquisition. Upon completion of the restructuring, the target company will be interested in 60% of the entire equity interest in the JV company, PT Jember Resources International.

According to Infocast News, the asset is an iron mine located in Jember, East Java, Indonesia, with a total area of 2,120.4 ha.