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PT Indonesia Coal Resources Acquires Sarolangun Coal Mine

01/27/2011
News Releases

Jakarta, January 27th, 2011 - PT ANTAM (Persero) Tbk (ASX-ATM; IDX-ANTM; ANTAM) is pleased to announce that its subsidiary, PT Indonesia Coal Resources (PT ICR) has acquired the Sarolangun coal mine, located at Jambi province, Indonesia. The acquisition costs Rp92.5 billion and is the first step of PT ICR’s expansion in coal mining business.

The Sarolangun coal mine begins operation in June 2010 with production of around 200,000 tons in 2010. PT ICR plans to ramp up coal production to around 500,000 tons in 2011. PT ICR estimates the coal reserves of the Sarolangun mine amounts to 8.25 million tons with average calorific value ranges between 5,300 to 5,500 Kcal/kg. The coals are currently sold to domestic and Indian market.

PT ICR was formed to support ANTAM’s plan to build a coal fired power plant to partly supply the electricity of ANTAM’s ferrronickel facilities.

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