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Geo Energy on the cusp of a turnaround?

Rising Indonesian thermal coal prices could mean a bonanza for the loss-making miner

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Geo Energy says its PT Sungai Danau Jaya, which began coal production in December 2015, has snagged an offtake deal worth an estimated US$1.2 billion with Engelhart Commodities Trading Partners (Singapore).

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Mr Tung says it's an opportune time to "selectively" snap up mines as vendors are no longer seeking "astronomical prices".

Singapore

ONE can easily forgive investors of Indonesian coal miner Geo Energy Resources, particularly those who bought its pitch back in 2012 during its stock offering on the Singapore Exchange and have remained invested, if they now feel indifferent (at best) or even somewhat scornful

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