SJ, I doubt very much that if a takeover bid eventuates the price will be any where near what you are hoping for.
Interesting article today from the Mining Weekly publication.
Indonesiaplans to cut coal output to bolster prices, revenue
9thJanuary 2020
By: Bloomberg
Indonesiaordered coal miners to slash output after record production and exports fromthe world’s largest shipper last year weighed on prices and state revenue.
Thegovernment has set the production target at 550-million metric tons this year,9.8% below the 610-million tons in 2019, Energy and Mineral Resources Minister ArifinTasrif told reporters in Jakarta on Thursday. Domestic consumption of thefuel is seen jumping 12% to 155-million tons, he said.
Authoritieswill ensure that miners stick to the cap as the government “doesn’t want coal productionto be too massive and drive prices lower and cause government revenue todrop", Tasrif said. “We will implement the domestic market obligation aswell,” he said, referring to a rule requiring miners to sell 25% of the outputlocally at a fixed price.
Whilecoal is being squeezed out of the US by cheaper natural gas and being drivenout of Europe over concerns about climate change, global demand for themost-polluting fuel is still likely to rise over the coming years, driven bySoutheast Asia, China and India, according to the International Energy Agency.
Coalprices in Indonesia slumped 28% last year, tumbling for a third year, as aglobal economic slowdown curbed demand. The decline in prices also hurtgovernment revenue and contributed to a widening trade deficit in the SoutheastAsian nation as coal remains the largest export earner.
Production surpassed the government target last year as about 1 000companies started operations under fresh mining permits issued by provincialgovernments, Bambang Gatot Ariyono,director-general of minerals and coal, told reporters. The government plans totrack their output through electronic reporting and regular monitoring of theirwork plan and royalty payments, he said.
