Black Ridge signs coal agreement with Inamas

Australian mining firm Black Ridge Mining NL (BRM) said on Monday that it has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas Abadi (PIA) in relation to PIA?s subbituminous coal deposit in Bengkulu province.

Under the Agreement, BRM has the exclusive right for a period of 5 months to conduct further legal and geological inquiries and to determine whether it will participate in the development of the deposit under a joint venture or similar arrangement with PIA, the company said.

The licence has a total area of 7,687 hectares of which preliminary investigation and at depth testing has taken place on 1,000 hectares, with early indications of an extensive resource.

This Agreement forms the basis of BRM?s continuous expansion into new opportunities overseas, with both Indonesia and the Philippines being of primary interest, it added. (kanti)