PT AP Investment – Vitrinite
PT AP Investment (**API**), through a yet to be incorporated connected entity, proposes to acquire substantially all of the assets of Vitrinite Pty Ltd (**Vitrinite**), including the shares in certain of its subsidiaries (the **Acquisition**). API is an Indonesian investment and holding company. API’s interests are predominantly in the natural resources sector, including a 15.45% interest in PT Amman Mineral Internasional Tbk, an Indonesian copper and gold mining company. API indirectly holds a minority interest in Macmahon Holdings Limited, which provides mining services and civil infrastructure services to resource and energy companies, including coal mining companies, in Australia. API and its connected entities do not produce, supply, trade, or deal in metallurgical coal in Australia. Vitrinite is an Australian company that owns the Vulcan Mine, a coal mine in Queensland’s Bowen Basin. Vitrinite entered voluntary administration in February 2026 and the Vulcan Mine was placed into care and maintenance. Prior to being placed into care and maintenance, the Vulcan Mine principally produced metallurgical coal. Vitrinite also holds interests in undeveloped coal projects that are in pre-feasibility and exploration stages.
- Status
- Assessment completed
- ACCC determination
- Approved
- Stage
- Waiver application
- Notified
- 10 July 2026
- Determination published
- 30 July 2026
Acquirers
- Crossfield Global Pte Ltd
- PT AP Investment
Targets
- Vitrinite Pty Ltd