Indonesia Grants Bayan Resources 15-20 mln Tons of Additional Coal Mining Quota

COAL - JAKARTA. Indonesia has issued an additional mining quota of around 15 million to 20 million metric tons to three subsidiaries of coal miner Bayan Resources, Energy Ministry official Tri Winarno said on Monday.

The additional quota was granted to three Bayan Resources units, namely PT Tiwa Abadi, PT Tanur Jaya and PT Fajar Sakti Prima, Tri said.

Bayan Resources declared force majeure last week on coal supply obligations at the three units after they had not received approval from the Energy Ministry to increase production.

The development came as Bayan's biggest shareholders, Low Tuck Kwong and Elaine Low, signed a conditional agreement last week to sell 10 billion shares to PT Jhonlin Baratama, a company owned by Indonesian tycoon Haji Isam.

Tri said the approval of the additional mining quotas was unrelated to the share purchase agreement.