The Government of Indonesia terminated its coal mining concession agreement (PKP2B) with PT Asmin Koalindo Tuhup (AKT), a subsidiary of PT Borneo Lumbung Energi & Metal Tbk (BORN) belonging to Samin Tan. This decision threatens the sustainability of BORN because AKT is BORN’s biggest asset. In addition, this decision will also have an impact on the peace agreement that the Company had entered into with its creditors back in April 2016. Responding to this decision, AKT filed a lawsuit at the Jakarta State Administrative Court (PTUN Jakarta).To subscribe please click here
