Indika Energy Secures $155 Million Credit Facility to Fuel Gold Pivot Away From Coal

JAKARTA, Investortrust.id — Indonesian energy group PT Indika Energy Tbk (INDY) is pushing deeper into precious metals, securing fresh bank financing to develop a major gold asset as part of its ongoing retreat from thermal coal.

The Jakarta-listed company obtained a $155 million credit facility from PT Bank DBS Indonesia, according to an official disclosure submitted to the Indonesia Stock Exchange (IDX) on Friday, Aug. 7, 2026. Bank DBS Indonesia acts as the lender, facility agent, account bank, and security agent under the terms of the agreement.

Five wholly owned subsidiaries—PT Indika Inti Corpindo, PT Tripatra Multi Energi, PT Tripatra Engineering, PT Tripatra Engineers And Constructors, and Tripatra (Singapore) Pte. Ltd.—served as initial guarantors for the transaction, providing corporate guarantees and share pledges.

Indika’s move underscores a broader structural shift across Southeast Asia’s mining giants, which are racing to redirect cash flows from fossil fuels into mineral assets tied to industrial demand and global wealth preservation. By securing targeted development capital for gold extraction, Indika is insulating its balance sheet against long-term coal decarbonization risks while capturing upside from favorable precious metals prices.

Funding the Masmindo Gold Concession

Indika stated that the total loan proceeds will be used exclusively to finance capital expenditures for the development of a gold mining concession in South Sulawesi. The project is operated by PT Masmindo Dwi Area, a wholly owned subsidiary of the group.

The new credit facility is secured on a pari passu basis in accordance with the provisions governing Indika's outstanding 8.75% senior notes, which are set to mature in 2029.

Accelerating the Energy Pivot

The company affirmed that the financing transaction directly supports its long-term corporate strategy to pivot away from thermal coal operations toward a cleaner, more diversified business portfolio.

By deploying capital into precious metals production, Indika aims to strengthen its underlying cash flow resilience while establishing a scalable non-coal growth engine in Indonesia's mining sector.