HONG KONG, July 24, 2006 (PRIMEZONE) -- NT Holding Corp. (OTCBB:NTHH) today announced its corporate development strategy with PT Borneo Mineral ("PT Borneo"), an Indonesia company that owns a right of concession on coal mines in Sebulu Mine, in the territory of East Kalimantan. NTHH completed its acquisition of 70% of the equity of PT Borneo on May 16, 2006.
Raw Coal is typically poorly mined and contains generally at least 10% of "added ash" or additional dirt. The management team of PT Borneo took samples from a number of these mining locations in Sebulu for analysis. The analysis showed that the majority of the undesirable ashes are small-size fraction of the raw coal. This means that to improve the coal quality it only needs to rinse the coal with water, and crush and screen it. It is not necessary to have a conventional dense-medium coal washing plant, which is much more expensive to construct and to operate. Instead, a coal rinsing plant will be sufficient. In order to improve the quality of the coal produced from the mines, PT Borneo plans to construct a coal rinsing plant in Sebulu Mine.
"PT Borneo will be able to produce higher quality coal with the rinsing plant facilities," said Peter Chun, CEO of NTHH. "Subsequent to the processing by the rinsing plant, it is expected that the revenue of our coal will increase by US$1.5 per ton. The profit margin of PT Borneo's operations will be enhanced and also, we can strengthen our market position in Indonesia."
About NT Holding Corp.
NTHH, through its subsidiaries, invests in and operates companies in China that engage in energy and natural resources businesses. NTHH is based in Hong Kong and currently operates two subsidiaries in Asia: (1) Shanxi Jinhai Metal Group that engages in coking coal and steel production in the Shanxi Province of China and (2) PT Borneo Mineral that owns a 30 years coal mining right concession in Indonesia. NTHH is positioning itself to support Asia's growing need for power, energy and natural resources.