GEO ENERGY Signs Binding Term Sheet for Proposed Acquisition of Majority Stake in Coking Coal Mine in Central Kalimantan, Indonesia

NewTimeSpace News: On April 1, 2026, GEO ENERGY announced that its wholly-owned subsidiary GEI had signed a binding term sheet with MHS and its shareholders to acquire a 50.61% stake in MHS, and thus indirectly obtain a 50.1% economic ownership interest in HTM, a wholly-owned subsidiary of MHS. The consideration for the acquisition is approximately IDR 911 million (equivalent to about USD 54,000).

According to the announcement, HTM owns a hard coking coal mining concession in Central Kalimantan, Indonesia, covering an area of approximately 3,293 hectares, with indicative 2P reserves of 20–25 million tonnes and a targeted annual production capacity of 2 million tonnes.

GEO ENERGY stated that the proposed acquisition will diversify the group’s coal product portfolio from thermal coal to coking coal, with low upfront investment and controllable risks.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.