Geo Energy Resources Limited (RE4) said its new Muara Bungo Jetty (MBJ) integrated infrastructure has been operational since Jul, 16 2026, with first coal loaded on the same day. The facility is designed for up to 50 million tonnes per annum of haulage capacity—25 million tonnes for the company’s TRA mine and 25 million tonnes for external users. Management expects logistics savings of more than US$10 per tonne for TRA coal and has already recorded about US$11 per tonne of cash-cost reduction on volumes moved through MBJ during the third quarter of 2026.
The group is finalising a definitive agreement for Resource Invest AG to acquire a substantial stake in MBJ at a US$1.5 billion valuation. At full utilisation, third-party haulage could generate up to US$250 million of EBITDA per year, and 9 million tonnes per annum of binding third-party volumes have been secured.
With MBJ in place, Geo Energy targets 2027 coal production of 17 million to 19 million tonnes, up from the 2026 guidance of 11.5 million to 12.5 million tonnes, subject to final mining plans and regulatory approvals. Approximately 3.3 million tonnes of coal were sold in the third quarter of 2026, compared with 3.6 million tonnes sold across the first and second quarters combined. TRA holds proved and probable reserves of 314 million tonnes and resources of 385 million tonnes.
The company noted that the ICI4 (4,200 GAR) coal price stood at US$77.14 per tonne on Oct, 2 2026, roughly 31 percent above the first-half 2026 average of US$58.13 per tonne. Forward pricing, based on the M42 futures index as of Sep, 30 2026, indicates a level of about US$78 per tonne through the end of 2027.
Geo Energy has paid dividends for 23 consecutive quarters under a policy of distributing at least 30 percent of net profit attributable to owners. Year-to-date 2026, S$13.3 million has been returned to shareholders through dividends and share buybacks. Since Jul, 2026 the company has repurchased 11.8 million shares, including a record 6.0 million shares for S$3.6 million on Oct, 5 2026. The board said it would continue to evaluate special dividends and further buybacks if market value does not reflect underlying asset value.