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PT Petrindo Jaya Kreasi Tbk
It is an Indonesian mining company that digs up thermal and metallurgical coal and also provides mining services and engineering construction.
Petrindo Jaya Kreasi is an Indonesian coal company. It digs two kinds of coal out of the ground: thermal coal, which power plants burn to make electricity, and metallurgical coal, which steelmakers cook into coke for making steel. It also runs a services arm that does mining work and engineering construction for other companies.
The money comes from selling coal to buyers, mostly industrial users and traders, and from charging fees for mining and construction services. Coal is a commodity, so the company cannot charge much more than the market price — the way it wins is by keeping costs low and owning good deposits, especially the higher-value metallurgical coal that steel mills need. The story here is speed. Petrindo listed on the Indonesia Stock Exchange in 2023, and it grew fast by buying up coal assets, most notably a big stake in coal miner Multitama Energi. That deal turned it from a small player into a much larger coal producer in a short time. Its controlling shareholder, Prajogo Pangestu, is one of Indonesia's richest businessmen, which gave the company access to capital and deals.
The risks are real. Coal prices swing hard, and a company built on acquisitions carries the debt and integration risk that comes with them. Jakarta-listed coal miners also face the long-term question of the global energy transition, even as coal demand in Asia stays strong today.
Saved answer · last researched 12 Nov 2026