Mercuria Energy Group Ltd. announces today the acquisition of a coal concession in South East Kalimantan. The purchase of this brown fields operation represents a strategic investment by Mercuria to create an additional growth platform for its coal trading activities.
The concession covers an area of 6000 hectares in SE Kalimantan, of which 2500 hectares are currently being exploited. First geological due diligence promises exceptional further development in terms of resources available but not yet extracted.
“The acquisition of this existing facility continues the build out of Mercuria’s international coal strategy. It will bring investment to the Indonesian and regional markets and further strengthen Mercuria’s coal trading capability for its global client base.”
Quote: Paul Chivers, Mercuria Chief Investment officer
The concession is strategically equipped with a haul road and a barge loading facility. These amenities will ensure fast and efficient coal transportation in the region and abroad. Current plans are to develop this operation into a 2 million ton per annum exporter of its own good quality bituminous coal.
“Mercuria Energy Group has again shown its commitment to invest and further develop its energy and coal strategy in Asia by successfully acquiring its first Indonesian coal facility. This investment will consolidate its existing trading and logistics platform and strengthen its ability to create value.”
Quote: Geoff Kelly, Mercuria, Global Head of Coal Assets
About Mercuria Energy Group Ltd.
Mercuria is a privately-owned international group of companies active over a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas (including LNG), power, coal, biodiesel, vegetable oils and carbon emissions. It is one of the world’s five largest independent energy traders and has a longstanding sector expertise. Mercuria’s worldwide operations are carried out from 28 offices across five continents.
Patrick Prendergast, Communications Director.
Paul Chivers, Chief Investment Officer.
Guillaume Vermersch, Chief Financial Officer.
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