Stanmore SMC officially takes over Dampier Coal

04 May 2022 06:43

JAKARTA – Stanmore SMC Holdings Pty Ltd (SMC) wrapped up the acquisition of the entire stock of Dampier Coal (Queensland) Pty Ltd yesterday (3/5). Susan Chandra, Corporate Secretary of PT Dian Swastatika Sentosa Tbk (DSSA) announces the said news in the information disclosure quoted Wednesday (4/5).

“The takeover of Dampier was funded by internal cash and disbursement of a financing facility worth USD 635 million,” Chandra confirmed.

SMC is an affiliate of PT Dian Swastatika Sentosa Tbk (DSSA) through its subsidiary, Stanmore SMC Holdings. This acquisition process has taken six months since the initial announcement of the takeover was issued by the company in November 2021.

Dampier is the owner of 80% of BHP Mitsui Coal Pty Ltd. BMC has coal mines in Queesland, Australia, consisting of South Walker Creek and Poitrel mine with a total production of 10 metric tons (MT) per year and total production reserves of 171 MT. Additionally, it also has a claim over Wards Well coal mining project that is yet to be developed.

“The acquisition hopefully can offer long-term additional values for shareholders of the company,” Chandra concluded. (LK/ZH)

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