Coal and gold mining company PT Petrindo Jaya Kreasi (Petrindo) has signed a Memorandum of Understanding (MoU) with Cokal Limited, an Australian publicly-listed coal mining company, to collaborate on the development of coal transportation infrastructure in Murung Raya, Central Kalimantan.

The MoU marks a strategic partnership aimed at optimizing coal transportation and infrastructure development in Central Kalimantan.

Daniel Laurente Jr., Director of Petrindo, expressed enthusiasm for the collaboration with Cokal Limited in the Murung Raya Regency, Kalimantan Tengah.

He said that this initiative accelerated the commencement and enhancement of coal mining assets owned by Petrindo and Cokal.

"It also reaffirms our steadfast dedication to improving operational efficiency and the supply chain integration of Petrindo, ultimately providing added value to our stakeholders," Daniel said in a media statement on Wednesday, March 6, 2024.

The MoU further strengthens the supply chain integration and operational efficiency of PT Daya Bumindo Karunia, located adjacent to PT Bumi Barito Mineral, owned by Cokal.

Access to infrastructure is crucial for Petrindo's operations, and through this MoU, Petrindo aims to significantly optimize transportation efficiency in its operational area.

Petrindo is a company engaged in energy mining through its subsidiary entities and is an affiliate of PT Barito Pacific. Petrindo manages two coal mining concessions in Kalimantan through its subsidiary entities.

Previously, Petrindo diversified its business by entering the metallurgical coal and gold mineral mining sector.

The company targeted the promising prospects of metallurgical coal widely used in the steel industry.

Petrindo adapted its business strategy to capture opportunities in this sector through its subsidiaries, PT Daya Bumindo Karunia (DBK) and PT Intam.

Michael, CEO of Petrindo, said that Indonesia possessed significant resources of metallurgical coal and gold.

"We are optimistic that expanding our business coverage will drive positive business growth for us. This aligns with our business strategy, focusing on strengthening the company's competitive position not only in the energy sector but also in the industrial sector through metallurgical coal mining capable of producing coke, a primary raw material in the steel industry," said Michael.