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Indika Energy: Doubling-Down on Coal

Indika Energy (“Indika” or “the group”) is one of Indonesia’s last surviving legacy coal mining credits which has emerged relatively unscathed after structural changes in fossil fuel markets, shifting mining regime in Indonesia and positioning among different vested interests. Today the group seems to have emerged stronger after a series of capital and liability management exercises, and has embarked on its next growth phase by committing to a larger investment (additional 45%) in its primary coal asset, Kideco Jaya Agung (“Kideco”). Regarding coal, the world’s “dirtiest” natural resource, it should not come as a surprise that there is still plenty of long-term uncertainty in the sector and this has resulted in a global repricing and reallocation of coal mine assets. The main development... Read more:

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