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PT Indo Tambangraya Megah Tbk
Indo Tambangraya Megah digs up thermal coal and sells it to power plants around the world, and also trades coal, distributes fuel, runs mining services, and installs rooftop solar.
Indo Tambangraya Megah is a coal miner. Its main job is digging thermal coal out of the ground in Indonesia and selling it to power plants that burn it to make electricity. Most of that coal leaves the country on ships, headed to buyers across Asia and beyond.
The company does more than just mine. It trades coal it doesn't dig itself, distributes fuel, provides mining services to other companies, and has been building a solar rooftop installation business. That last piece matters because coal is a shrinking business in the long run, and the company needs new things to do. The coal business is simple but brutal. Customers buy coal because it is a cheap way to make electricity, and they switch suppliers based on price, quality, and reliability of delivery. Indo Tambangraya Megah competes with other Indonesian coal miners, and the price of coal swings wildly with global energy demand. When coal prices are high, the company makes a lot of money; when they fall, the business gets much tougher.
Coal miners like this one tend to generate strong cash flow when prices are good, and the company has a reputation for paying large dividends to shareholders rather than hoarding the cash. That makes it a favorite among income-focused investors, but it also means the stock rises and falls with coal prices. The solar rooftop push is small today, but it is a sign the company knows its core business has a long-term problem: the world is slowly moving away from coal.
Saved answer · last researched 12 Nov 2026