Mining Company Owned By Conglomerate Hary Tanoesoedibjo Has Coal Reserves Of Up To 253.42 Million Tons

JAKARTA - One of the coal mines belonging to a subsidiary of conglomerate Hary Tanoesoedibjo, PT MNC Energy Investments Tbk (IATA), discovered new reserves.

According to the Indonesian Mineral Reserves Committee (KCMI), PT Arthaco Prima Energy (APE), one of the mining business licenses (IUP) recently acquired by IATA, found additional reserves of 52.1 million MT with a GAR of 2,500 - 3,250 kg/kcal in the program APE drilling Phases 1, 2, and 3 in an area of 1,720 Ha.

Thus, IATA's total reserves increased to 253.42 million MT from the previous 201.32 million MT.

In IATA's disclosure of information on the Indonesia Stock Exchange (IDX) website, quoted on Saturday, July 2, APE is expected to generate a net present value (NPV) of 452.3 million US dollars, with an internal rate of return (IRR) of 60.3 percent, break-down. even point (BEP) 6.92 million MT, and a payback period of 1.98 years, based on the average price of HBA coal from 2021 to June 2022.

Even with new coal reserves and resources, APE has not yet reached 11.5 percent of the total mineable area. APE Phase 4 drilling is scheduled to be completed by the end of this quarter.

APE operates an IUP which is targeted to start production this year and occupies an area of 15,000 hectares in Musi Banyuasin, South Sumatra. The APE mining site is only 12.5 km from the river and about 108 km to the transhipment area at Tanjung Buyut port.