Indonesian coal miner PT Bayan Resources (IDX: BYAN) and three subsidiaries have declared force majeure on their coal supply obligations as proposed revisions to their mining quotas have not been issued, the company said in a stock exchange filing on Monday.
Bayan Resources said requests made to the government by its units PT Tiwa Abadi, PT Tanur Jaya and PT Fajar Sakti Prima to revise their mining quotasfor 2026 have not yet been granted.
The quota revision needs to be approved to enable them to continue production, and “this condition affected the ability of the company and subsidiaries to fulfill its obligations to customers,” Bayan said in the filing.
An entity controlled by Indonesian tycoon Andi Syamsuddin Arsyad, who is also known as Haji Isam, has offered about $3 billion in cash for a 62% stake in Bayan Resources, Bloomberg News reported last week.
(Reporting by Fransiska Nangoy; Editing by David Stanway)
