Joined: 16 Jan 2003 Posts: 691 Location: Bali Indonesia
Posted: Mon Sep 01, 2008 7:29 am Post subject: Indonesian Pearling Project
A Brief History
Atlas south sea pearl Limited started its days as Atlas Pacific Gold NL in 1987. Originally established as a gold prospecting Company, Atlas changed direction in 1993 by taking an opportunity to invest in an Indonesian Pearling Project in 1993 which quickly grew to a 75% share with management control. In 1999 approval was received for the company to take a 100% ownership in the pearling project through an acquisition of the minority interests.
The project in Indonesia is operated through Atlasí Indonesian PMA licensed (foreign investment approved) subsidiary PT Cendana Indopearls and locally the company operates under that name. The current operations are spread from Bali to Papua (formerly Irian Jaya) and include a joint breeding facility with Autore Pearl Culture in Lombok.
In 2007 Atlas decided to expand its pearling ventures beyond Indonesia. After an extensive survey, the Darvel Bay area in Sabah, Malaysia was chosen for developing a new pearling operation. Atlas expects the pilot pearl farm to be established early in 2008. More Story
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