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View all search resultsThe proposed acquisition of a 30 percent stake in PT Bayan Resources (BYAN) by Jhonlin Baratama has entered a new phase after both parties signed a conditional sale and purchase agreement. The deal follows weeks of uncertainty over Bayan’s production quota, which had forced three of its subsidiaries to declare force majeure while awaiting approval of their revised 2026 mining work and budget plans (RKAB). The timing of the acquisition, Bayan’s force majeure declaration and the subsequent approval of its revised production quota raises questions about the role of regulatory intervention in corporate outcomes.
Commodity price intelligence provider Argus in August revealed that parts of the upper reaches of the Barito River have become completely unnavigable, with some mining companies in the area already declaring force majeure on shipments.
The exchange, scheduled for launch next year, is President Prabowo Subianto's latest initiative to expand state influence over natural resources in a country that is the biggest global supplier of palm oil, nickel and thermal coal and a major source of copper and bauxite.
Widespread power disruptions have hit multiple regions across Indonesia in recent months, affecting parts of Sumatra, Java and Kalimantan and raising concerns over the reliability of the country's electricity grid.
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