Golden Energy secures $42M term loan from Bank Mandiri for mine electrification
What's the deal? PT Golden Energy Mines (GEMS)Dealroom has a profile for this one. Try Dealroom → has secured a term loan of up to $42 million from PT Bank MandiriDealroom has a profile for this one. Try Dealroom →, routed through its indirect subsidiary PT Borneo Indobara (BIB)Dealroom has a profile for this one. Try Dealroom →. The facility carries a maximum term of five years from the signing of the credit agreement.
What's the endgame? The money will fund capital expenditure on an electrification project across BIB's mining operations, where the company plans to build out power infrastructure. BIB is an indirect subsidiary engaged in coal mining and trading.
The fine print: The facility covers a maximum of 80% of the electrification project's value. Golden Energy did not disclose the total project cost or its implementation stages.
Why now? Bank Mandiri and BIB signed the credit agreement on September 16, 2026, formalised before a Jakarta notary. Golden Energy said the loan will support its growth and operational performance while strengthening its financial position.
What could go wrong? The company disclosed few details beyond the headline figure, leaving the project's scale and timeline unclear. It stated there is no legal impact from the facility.
The signal: The loan reflects continued bank appetite for financing infrastructure at Indonesian coal operations, with lenders backing power projects tied to mine output rather than expansion of extraction itself.
Read more: id.tradingview.com
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