PHI Group to Acquire One Hundred Million Metric Tonnes of Coal Resources in East Kalimantan, Indonesia

PHI Group, Inc. (otcqb:PHIE) (pinksheets:PHIE), a company focused on energy and natural resources, announced today that it has signed a Letter of Intent to acquire approximately 100 million metric tonnes of coal resources, together with the operation and production license (IUP Operasi Produksi), located in an area of 9,900 hectares in East Kalimantan, Indonesia from PT. MSP, an Indonesian company with headquarters in Kutai Timur, Kalimantan Timur, Indonesia.

Full "IntellAsia: Resources" article