Indonesia: Geo Energy acquires two local mines; South Korean co to invest $1.1b in gas infrastructure

Surface coal mining Credit: Wikimedia Commons

Singapore miner GEO Energy Resources Ltd has entered into a conditional sale and purchase agreement with  Sunrise Wealth Success, an investment holding company incorporated in the British Virgin Islands, to wholly acquire Indonesia-based Borneo Bara Resources Pte. Ltd. Meanwhile, South Korean state owned company and a South Sumatra provincial government owned company (BUMD) have signed memorandum of understanding (MoU) to develop gas infrastructure in the South Sumatra region

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