Australia-listed Indus Coal said Friday that it has purchased stakes in two companies -- Batanghari Energi Prima and Berlian Mahkota Coal -- which own three coal projects in Indonesia's Jambi province.
In a filing with the Australian stock exchange, Indus said it bought a 38% stake each in BEP and BMC, for a total $6.5 million.
BEP owns Block 7 which covers 5,000 hectares and Block 8 which spans 4,380 hectares, while BMC owns Block 9 which covers 5,013 hectares.
Indus said it has completed legal and technical due diligence on the three blocks, which are located near each other in the Central Tebo district in the Tebo regency. All three blocks are in the exploration stage, Indus said without providing further details.
According to Indus' website, the company has a coal project in Bengkulu province in western Sumatra which is in the exploration stage.
