Mercuria Energy Group Acquires Strategic Coal Concession in IndonesiaBy Mercuria Energy Trading S.a., PRNE
Monday, November 15, 2010
JAKARTA, Indonesia, November 16, 2010 - Purchase of Indonesian Coal concession is an important step for
Mercuria in the development and growth of its Asian and Global coal business.
- Major strategic step for Mercuria in the growth of its global coal business. - Mercuria makes strategic investment in Indonesia. - Large Coal concession with excellent logistics both road and port infrastructure. - Mercuria consolidates its existing trading and logistics platform. - Valuable growth platform for Mercuria in Asia, with global synergies.
Mercuria Energy Group Ltd. announces today the acquisition of a coal
concession in South East Kalimantan. The purchase of this brown fields
operation represents a strategic investment by Mercuria to create an
additional growth platform for its coal trading activities.
The concession covers an area of 6000 hectares in SE Kalimantan, of which
2500 hectares are currently being exploited. First geological due diligence
promises exceptional further development in terms of resources available but
not yet extracted.
"The acquisition of this existing facility continues the build out of
Mercuria's international coal strategy. It will bring investment to the
Indonesian and regional markets and further strengthen Mercuria's coal
trading capability for its global client base."
Quote: Paul Chivers, Mercuria Chief Investment officer
The concession is strategically equipped with a haul road and a barge
loading facility. These amenities will ensure fast and efficient coal
transportation in the region and abroad. Current plans are to develop this
operation into a 2 million ton per annum exporter of its own good quality
"Mercuria Energy Group has again shown its commitment to invest and
further develop its energy and coal strategy in Asia by successfully
acquiring its first Indonesian coal facility. This investment will
consolidate its existing trading and logistics platform and strengthen its
ability to create value."
Quote: Geoff Kelly, Mercuria, Global Head of Coal Assets
About Mercuria Energy Group Ltd.
Mercuria is a privately-owned international group of companies active
over a wide spectrum of global energy markets including crude oil and refined
petroleum products, natural gas (including LNG), power, coal, biodiesel,
vegetable oils and carbon emissions. It is one of the world's five largest
independent energy traders and has a longstanding sector expertise.
Mercuria's worldwide operations are carried out from 28 offices across five
Media Contacts: Patrick Prendergast, Communications Director. contact: firstname.lastname@example.org Paul Chivers, Chief Investment Officer. contact: email@example.com Guillaume Vermersch, Chief Financial Officer. contact: firstname.lastname@example.org
Media Contacts: Patrick Prendergast, Communications Director., contact: prendergast at mercuria.com, +41-22-595-88-52; Paul Chivers, Chief Investment Officer., contact: pchivers at mercuria.com; Guillaume Vermersch, Chief Financial Officer., contact: gvermersch at mercuira.com
Tags: Indonesia, Jakarta, Mercuria Energy Trading S.a., November 16