Indika Energy Holds Whole Interest in MTU Coal Mine

摘要

PT Indika Energy Tbk, a major resource company in Indonesia has recently acquired an additional 15% stake(about 2.62 million shares) in PT Multi Tambangjaya Utama (MTU) in the same country. The share takeover amount wasUS$9.9 million. As a result of this transaction, Indika Energy raised its shareholding ratio in MTU to 100% from 85%.MTU holds a 100% interest in MTU coal mine, a metallurgical and thermal coal mine in the Central Kalimantan.Hence, Indika Energy obtained the whole interest in MTU coal mine this time by making MTU its wholly owned subsidiary.MTU coal mine is an open-cut coal mine located 250 km to the north of Banjarmasin, and started coal productionin October 2016.