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JAKARTA - Conglomerate Hary Tanoesoedibjo is getting more and more steady in the coal business. This time, the wholly owned subsidiary of PT MNC Energy Investments Tbk (IATA), PT Bhakti Coal Resources (BCR), has signed a sale and purchase agreement to acquire the remaining 46.16 percent stake in PT Putra Muba Coal (PMC) through its subsidiary, PT Sumatra Resources (SR).

After this acquisition, SR will own 100 percent of PMC from previously only 53.84 percent. This step is in line with the Company's ambition to strengthen its position in the energy sector, particularly coal mining.

PMC has reserves of 54.8 million MT from the 2,947 ha concession, which is located in Musi Banyuasin Regency, South Sumatra. PMC plans to increase its production from 2 million MT in 2021 to 4.5 million MT in 2022.

PMC itself accounts for 5 percent of the total BCR production target of 7.8 million MT this year, this acquisition will certainly increase IATA's profitability. PMC's operational activities in 2021 recorded revenues of USD 56.32 million and had an EBITDA of USD 24.01 million.

Due to skyrocketing coal prices due to increasing demand and supply chain problems arising from conflicts between global powers, management is optimistic that the acquisition will improve PMC's financial position with an estimated profit of doubling this year.

PMC also has a port located on the Tungkal River, about 10 km from the mine and about 161 km to the transshipment area at Tanjung Buyut port.

BCR is the holding company of nine coal companies with Mining Business Permits (IUP) in Musi Banyuasin, South Sumatra, which include, PT Bhumi Sriwijaya Perdana Coal (BSPC) and PT Putra Muba Coal (PMC), both of which are already operating and actively producing coal with GAR range 2,800 - 3,600 kcal/kg.

BSPC has an estimated total resource of 130.7 million MT, while PMC has 76.9 million MT, with estimated total reserves of 83.3 million MT and 54.8 million MT, respectively. Then, PT Indonesia Batu Prima Energi (IBPE) and PT Arthaco Prima Energi (APE), both of which are targeted to start coal production within this year.

In addition, PT Energi Inti Bara Pratama (EIBP), PT Sriwijaya Energi Persada (SEP), PT Titan Prawira Sriwijaya (TPS), PT Primaraya Energi (PE), and PT Putra Mandiri Coal (PUMCO) are being prepared to operate in one operation. or two years from now. These seven IUPs have an estimated total resource of over 1.4 billion MT, a very promising amount for the Company's new business.


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