MEJA Accelerates Coal Production Target to 1.5 Million Tons

Harta Djaya Karya (MEJA) is set to ramp up coal production to 1.5 million tons in 2026. The target will be achieved through the company’s subsidiary, Trimata Coal Perkasa (TCP), which has appointed Mitra Abadi Mahakam as the contractor to carry out coal mining operations.

According to TCP's 2026 Work Plan and Budget (RKAB), this production target has been approved by the Ministry of Energy and Mineral Resources (ESDM). As the contractor, Mitra Abadi will perform coal exploitation in Tungkal LIR District, Banyuasin, South Sumatra.

TCP has also secured a standby buyer for the produced coal, namely Agro Energy Trading Pte Ltd. “We estimate that TCP will earn a pre-tax profit of USD 7-10 per ton from these mining and sales activities. We predict TCP's enterprise value to be approximately IDR 2.49 trillion,” stated Noprian Fadli, Director of Triple Berkah Bersama, the controlling shareholder of Harta Djaya Karya.

The TCP coal mine is a large-scale asset in South Sumatra with a concession area of approximately 11,640 hectares. With thick coal seams and economical geological characteristics suitable for open-pit methods, the mine is ideal for long-term operations with high production capacity.

Based on PT Trimata Coal Perkasa’s JORC report, estimated mineable coal resources are around 693.7 million tons. This reflects large-scale geological coal potential and supports long-term open-pit mine development. The resource estimate was prepared by the independent consultant Faan Grobelaar & Associates.

Previously, on December 22, 2026, MEJA’s controller, Triple Berkah Bersama (Triple B), signed an agreement to acquire a 45 percent stake in TCP. The transaction, valued at IDR 1.6 trillion, is conducted through a share swap mechanism involving TCP and MEJA shares or other methods that do not utilize MEJA’s cash.

The implementation of the TCP share acquisition will be carried out in stages. Currently, Triple B and TCP’s controlling shareholders are preparing the necessary requirements for MEJA to hold an Extraordinary General Meeting of Shareholders (EGMS) to approve the capital increase for the acquisition.

Source: https://www.emitennews.com/news/meja-kebut-produksi-batu-bara-15-juta-ton

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