The company said late Thursday that the deal would give it 28 million metric tons of high-quality thermal reserves at Bumi, a 3200-hectare concession in the country’s southeastern region.
Borneo’s takeover of Bumi comes just after its deal to acquire PT Integra and will boost its high-quality thermal coal reserve total.
“This property has been thoroughly explored and has existing geological data and visible outcrops across the concession,” chairman and chief executive officer Nils Ollquist 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.
Its takeover of Integra was finalized late last year.
