Geo Energy Resources Limited has announced significant progress in its Integrated Infrastructure Project, achieving 80% completion. The project, under PT Marga Bara Jaya (MBJ), includes a 92km hauling road and jetty in South Sumatra, set to be operational by early Q3 2026. Lorry hauling trials will commence in April 2026, supported by agreements with PT Citra Andalan Mobilindo Cemerlang Shacman and China North Vehicle Corporation Limited (CCCC-Norinco).
The company has secured two binding term sheets with third-party customers for a total of 9 million tonnes per annum in haulage volume. This is expected to create a new toll-based revenue stream, potentially generating up to $300m in EBITDA annually at full capacity of 50 million tonnes per annum.
Geo Energy has set a coal production target of 115–125 million tonnes for 2026, pending final approvals from the Ministry of Energy and Mineral Resources. With current coal prices, this could result in $170–200m in EBITDA from coal sales alone.
Coal prices have surged due to geopolitical tensions, with the ICI4 coal price rising to $59.97 per tonne as of 13 March 2026, a 29.3% increase from Q4 2025. This price hike strengthens Geo Energy’s earnings outlook, as noted by Executive Chairman and CEO Charles Antonny Melati, who highlighted the company’s readiness for operations and long-term growth ambitions.
