Borneo snaps up more Indonesian coal reserves

IN A move to expand its coal portfolio, Washington-based Borneo Resource Investment has signed an agreement to acquire 90% of BT Berkat Banua Masanggu, which holds an 8800 hectare thermal coal concession in the Indonesian region of South Kalimantan.
Borneo snaps up more Indonesian coal reserves Borneo snaps up more Indonesian coal reserves Borneo snaps up more Indonesian coal reserves Borneo snaps up more Indonesian coal reserves Borneo snaps up more Indonesian coal reserves

Courtesy Borneo Resource Investment.

Lauren Barrett

The company said the concession contained estimated reserves of 6 million tonnes of high-quality thermal coal.

Borneo chairman and chief executive officer Nils Ollquist said the acquisition was a major boost for the company.

“Our ongoing efforts in the region continue to give us the opportunity to secure very attractive properties with high quality coal, thus enabling us to continue to expand the company's portfolio and increase shareholder value,” he said.

Borneo, via wholly owned subsidiary Interich International, is focused on exploring and developing coal properties in Indonesia’s East Kalimantan region.

In addition to the US, its locations include Hong Kong and Indonesia.

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