SINARMAS GROUP ACQUIRES A COAL MINE IN AUSTRALIA
Forbes Indonesia|August 2021
Sinarmas’ Golden Energy Mines’ subsidiary, Stanmore Coal Ltd, acquired the Millennium and Mavis Downs Mine from Peabody Energy Australia last month. Located in Moranbah, Queensland, Australia, the acquisition was taken under MetRes Ltd, a joint venture company with M Resources Trading Pty Ltd with upfront cash of A$1.25 million and a royalty agreement for $1.25 million.
SINARMAS GROUP ACQUIRES A COAL MINE IN AUSTRALIA

In the arrangement, Stanmore has to provide the JV with a total finance facility up to A$ 30 million, including a working capital debt facility of A$ 15 million and an additional A$ 15 million debt facility to support rehabilitation surety obligations if required.

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