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The Company is an investment holding and management company based in Perth in Western Australia with operating subsidiaries in Indonesia and the British Virgin Islands. The Company’s subsidiary, CTI, has acquired a dormant company, PT Tabang Mineral Ventures (“TMV”), an approved foreign investment company or Penanaman Modal Asing (“PMA”) to conduct its mining management activities in Indonesia.
BRN was established as a coal mining and trading company on 9th August 2004. BRN owns and controls 60% of the fully paid capital issued by NTC, The other 40% is owned by another Indonesian company, PT Bara Adhipratama (“BAMA”).
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COMPANY NEWS
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NTC, then called PT Nusantara Thai Coal, signed a CCOW or Perjanjian Karya Pengusahaan Pertambangan Batu Bara (“PKP2B”) dated 19 February 1998 with the Indonesian Government procuring the rights to mine an area currently measuring 2,832 hectares in Muara Bungo Regency, Jambi Province, Indonesia (“Coal Concession”). The Coal Concession period is 30 years from the date of commencement of mining operations, which is 27 March 2006. John T Boyd reported that the coal reserves evaluated in compliance to JORC compliant Reserves (Proved of 22.9 Mt and Probable of 1.1 Mt) along with compliant Resources (Measured of 31.7Mt and Indicated of 5.2Mt)
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