19 Sep 2022

IATA Won Coal Sales Contract Worth USD 108 Million

Bali, 19 September 2022 – PT MNC Energy Investments Tbk (IATA or the Company), through its coal holding subsidiary PT Bhakti Coal Resources (BCR), has signed Sales and Purchase Agreements with three buying parties: SAII Resources Pte Ltd, Visa Resources Pte Ltd, and CPTL Pte Ltd.

In addition, CPTL Pte Ltd will also invest in the construction of hauling road and port conveyor of PT Bhumi Sriwijaya Perdana Coal (BSPC) site, one of BCR subsidiaries, to promote production and transportation efficiency, with estimated investment to be worth USD 10 million.

The Company is expected to earn an additional USD 108.42 million in revenue from these three contracts and continues to anticipate more deals in the future as the production increases. These long-term purchase contracts demonstrate the buyer's confidence in IATA's mining operations.

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