Behind the Soaring Overburden Costs and US$605 Million Loss at Samin Tan’s Borneo Lumbung

So, Samin Tan’s Borneo Lumbung Energi & Metal (BORN) has finally released its full year 2013 financials. The verdict? BORN posted US$605.18 million of net loss, grew almost 10% from 2012. Other than huge debts, the company suffered from significant drop in coal prices and squeezed margins.

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