Borneo Lumbung risks delisting after subsidiary’s licence revoked

摘要

Indonesian hard coking coal miner, Borneo Lumbung Energy &Metal (BORN), risks being forcibly delisted from the IndonesiaStock Exchange (IDX), after the Coal Contract of Work (CCoW) ofts only subsidiary – Asmin Koalindo Tuhup (AKT) was revoked.In a letter dated 19 October, the Ministry of Energy and MineralResources (ESDM) cancelled AKT’s CCoW, for among otherreasons, a breach of contract and negligence, chiefly failing to getmandatory approval from the government. Details became publica month after the revocation.