Geo Coal Hits Coal Reserves Target; Mandatory Buyback of 8% 2022s No Longer Required

Geo Coal, the Indonesian coal miner said that it hit the minimum requirement of 84mn tonnes of regulatory-compliant coal reserves that it had to meet. It stated that its two qualified mines in Indonesia, SDJ and TBR produced 4.9mn tonnes and 7.7mn tonnes respectively in 2020. Since Geo Coal has hit met the coal reserve requirement, the mandatory offer to purchase their 8% 2022s is no longer required.

Geo Coal’s 8% 2022s are currently up 0.2 to 81.8, yielding 23%.

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