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Energy

Indonesia's mining giants race to adapt as investors cool on coal

PTBA and Bumi bet on gasification tech to meet global demand for cleaner fuels

Indonesia is the world’s largest coal exporter, supplying 455 million metric tons, or 31.7% of the world’s exports, in 2019.   © Reuters

JAKARTA -- Indonesia's mining giants are piling into coal gasification projects as the country's biggest export markets and global investors move toward a carbon-neutral future.

Coal gasification can be used to create a range of fuel products with lower emissions, an important consideration for investors increasingly concerned about environmental, social and corporate governance, or ESG, issues. The moves also dovetail with the Indonesian government's push to develop the downstream industry, rather than simply exporting raw natural resources.

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