Borneo Resource Investments Ltd announced that it has finalized the acquisition of an additional 1,300 hectare (approximately 3,200 acres) coal mining concession in the Southeastern region of Kalimantan, Indonesia.

Through an agreement with PT Integra Prima, the previous owner of the concession, the Company has acquired full exploration, mining and production rights to 100% of the property, which is estimated to contain 8 million tons of high quality steaming coal.

Mr Nils Ollquist chairman and CEO of Borneo said that "This transaction marks the beginning of our 'roll up' strategy to build our reserves in Kalimantan. The Integra Prima property is world-class, with an initial mining feasibility report from PT Geoservices which indicates high levels of surface distribution and shallow depth reserves of high thermal output and low ash/moisture steaming coal, suitable for use in power generation facilities in both India and China."

He added that "We are already in discussions with a select number of end users in India on possible joint ventures to bring the property into production, or sale of part or all of the concession. We believe that this property is an excellent asset for our portfolio, and is indicative of the types of concessions we look to add going forward."