JAKARTA – PT MNC Energy Investments Tbk (IATA) is targeted to contribute IDR 4.2 trillion to the total revenue of PT MNC Asia Holding Tbk (BHIT) in 2023. This projection is made following the official acquisition of 44.07% of its shares by BHIT.
Hary Tanoesoedibjo, Executive Chairman of MNC Group, mentioned that IATA’s coal production is targeted to hit 10 million metric tons (MT) mark. “It will then continue to increase as its proven reserves of exploration increase and other purchase contracts with future potential coal traders have been obtained,” he said in the press release quoted Friday (18/11).
IATA reportedly has coal reserves of 332 million MT in possession. Up until now, its drilling activity has yet to cover 20% of its mining area of 72,478 hectares (Ha).
Furthermore, IATA has just concluded its rights issue today (18/11). This corporate action is intended to pay commissary notes to BHIT regarding the acquisition of PT Bhakti Coal Resources (BCR), a holding company of eight mining business licenses in Musi Banyuasin, South Sumatra.
With BHIT’s additional portion in IATA, this energy company will complement the existing business pillars of MNC Group, which now consist of media and entertainment, financial services, and entertainment hospitality. (LK/ZH)