Indonesia grants Bayan Resources additional 15-20 Mt coal mining quota

Indonesia has allocated an additional coal mining quota of roughly 15 to 20 million tonnes to three subsidiaries of coal miner Bayan Resources, energy ministry official Tri Winarno said on September 21.

Tri stated that the supplementary quota was given to three units of Bayan Resources: PT Tiwa Abadi, PT Tanur Jaya and PT Fajar Sakti Prima.

Last week, Bayan Resources declared force majeure on coal supply obligations at those three units, as they had not secured approval from the Energy Ministry to boost production.

Bayan also announced last week that its largest shareholders, Low Tuck Kwong and Elaine Low, had signed a conditional agreement to sell 10 billion shares to PT Jhonlin Baratama, a firm controlled by tycoon Haji Isam.

Tri noted that the green light for the additional quotas is unrelated to the share purchase agreement.

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