JAKARTA Yosefardi) – PT Central Omega Resources Tbk (DKFT) plans to buy back 563.05 million shares, representing 10% of its enlarged capital, in the period of April 28, 2014 to July 27, 2014.
The company allocates Rp169 billion for funding the buy back program. After the buy back, the company’s assets will reach Rp1.43 trillion and equity will reach Rp1.28 trillion.
DKFT targets to build ferronickel (FeNi) smelter which costs US$300 million in first half of this year. The smelter with capacity of 320,000 tons per year will be located in North Morowali.
DKFT also said its unit Citra Sindo Utama targets to commence iron ore production in Singkep island (Riau) in June this year. This project is targeted to produce 325,000 tons of iron concentrate this year.