Mercuria Energy Group Acquires Strategic Coal Concession in Indonesia
JAKARTA, Indonesia, Nov. 16 /CNW/ - Purchase of Indonesian Coal concession is an important step for Mercuria in the development and growth of its Asian and Global coal business.
- Major strategic step for Mercuria in the growth of its global coal business.
- Mercuria makes strategic investment in Indonesia.
- Large Coal concession with excellent logistics both road and port infrastructure.
- Mercuria consolidates its existing trading and logistics platform.
- Valuable growth platform for Mercuria in Asia, with global synergies.
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.For further information:
Patrick Prendergast, Communications Director.
Paul Chivers, Chief Investment Officer.
Guillaume Vermersch, Chief Financial Officer.