One of Indonesia’s Largest Coal Reserve Owners
Golden Energy and Resources Limited (or “GEAR”) is a Singapore listed (SGX:AUE) leading energy and resources company in the Asia Pacific region.
GEAR’s businesses include:
- Mining of thermal coal through its subsidiary PT Golden Energy Mines (“GEMS”) operating in Indonesia;
- Mining of metallurgical coal through its subsidiary Stanmore Coal Limited (“Stanmore”) (75.33%) (GEAR effective interest 60%*);
- Mining of gold through Ravenswood Gold Pty Ltd (50%);
- Various investments in renewable energy projects in Asia.
GEAR owns 5 mining concessions in Indonesia covering an aggregate area of approximately 66,204 hectares, with 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 2019. GEAR is Stanmore’s largest shareholder and is represented on the board of Stanmore.
*GEAR’s effective interest in Stanmore Coal is 60% through its approximately 80% shareholding in its subsidiary Golden Investments which holds 75.33% in Stanmore Coal.