“So long as it’s wise and consistent with our strategic pillars, M&A is one thing we are going to take a look at critically,” mentioned Director Iwan Fuadi Salim in an interview. It presently has $322 million in money. Anthracite, which emits 1 / 4 of the carbon emissions in comparison with lower-quality coal, is a part of that transfer, Salim added.
Indonesia’s coal mining trade is present process a major shift as firms diversify. PT Adaro Power Indonesia is constructing an aluminum smelter in Kalimantan, PT Harum Power is trying to purchase extra nickel mines, whereas PT Indika Power and PT United Tractors purchased stakes in non-coal mining property final 12 months.
Delta Dunia can also be contemplating one other bond buyback if the market is favorable, particularly as the corporate faces a peak in debt maturities amounting to $355 million in 2026, Salim mentioned.
Indonesian coal producers may change into extra entrenched dollar-denominated debtors over the subsequent few years as they search funding to diversify away from thermal coal, in keeping with Bloomberg Intelligence’s Credit score Analyst Mary Ellen Olson.
(By Fathiya Dahrul and Rachel Cicilia)