We Are One of Indonesia’s Largest Coal Reserve Owners
We are listed on the Mainboard of the Singapore Stock Exchange and is principally engaged in the exploration, mining, marketing and trading of thermal coal sourced from
our coal mining concession areas. Following the latest acquisition of PT Barasentosa Lestari ("BSL") on 31 August 2018, we own a total of five mining concessions covering an aggregate area of approximately 66,204 hectares.
We own the right to mine more than 2.8 billion tonnes of thermal coal resources with coal reserves estimates of over 1.0 billion tonnes as at 31 December 2018. Our thermal coal reserves comprise a wide range of coal
production with an average calorific value range of between 2,835 kcal/kg (arb) to 6,829 kcal/kg (arb).
Our mining concessions are held through its 66.9998%-owned subsidiary PT Golden Energy Mines Tbk ("GEMS") and its subsidiaries.
In 2018, we completed a strategic acquisition of approximately 10% of Westgold Resources Limited ("Westgold"), an Australian gold producer listed on the Australian Stock Exchange ("ASX"),
to diversify from our portfolio of thermal coal to include counter cyclical precious metals.
Additionally, we now hold approximately 25.5% interest in ASX-listed Stanmore Coal Limited ("Stanmore"), following the off-market takeover bid. Through the investment in Stanmore, a primarily coking coal focused company,
we seek to enhance our overall asset portfolio in the current commodity price environment by diversifying and expanding our coal product suite and geographical presence.