Indonesia-based coal mining company PT Bayan Resources has announced a force majeure declaration affecting coal supply commitments by three of its subsidiaries due to a delay in government approval of their revised annual production plan (RKAB) for 2026. The affected subsidiaries—PT Tiwa Abadi, PT Tanur Jaya, and PT Fajar Sakti Prima—declared force majeure last Friday, according to the company’s public disclosure released on Monday.
The firm explained that the delay in obtaining approval for the RKAB, which is mandatory for legally conducting coal production, has hindered its ability to meet contractual obligations with customers. “The force majeure is due to the pending approval of the RKAB 2026 for the subsidiaries, despite the application being submitted in accordance with prevailing laws,” the statement said. The company added that this regulatory setback has had a significant disruptive effect on its operational activities.
PT Bayan Resources expressed hope that the force majeure status would mitigate the financial and contractual risks the company and its subsidiaries currently face amid the uncertainty.
The announcement arrives in the context of circulating market speculation about a potential acquisition involving tycoon Haji Isam, who is rumored to be seeking a majority stake of 62% in Bayan Resources. Following the emergence of these rumors in August, Bayan’s stock price surged, reaching 17,125 rupiah per share on August 18. On that day, the company issued a statement denying awareness of any imminent takeover plans, though it acknowledged that controlling shareholders periodically explore opportunities to maximize their investment in the company.
PT Bayan Resources is publicly listed on the Indonesia Stock Exchange under the ticker symbol BYAN. The company’s ability to secure regulatory approval for its production plans remains pivotal to maintaining its supply contracts and overall business stability in the face of these challenges.