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Coal Mining and Trading

Coal mining and trading business are one of the Company core business run by PT Golden Energy Mines Tbk, a Company subsidiary. The coal business were started by acquiring PT Bumi Kencana Eka Sakti (now PT Golden Energy Mines Tbk) in 2009. PT Golden Energy Mines Tbk and its subsidiaries currently have several mining blocks, such as KIM block in Jambi, BIB block in South Kalimantan, TKS block in Central Kalimantan.

The total of all block coal resources calculated at 2 billion tons, with total coal reserve at 600 million tons. 60% of its sales were exported to several conutries such as China, India, Malaysia, and Thailand, while the other 40% of its sales were used domestically (Indonesia).

The coal calorific values are ranging from 4000 kcal/kg to 5300 kcal/kg. Coal moisture values are ranging from 23% to 37%.

In 2015, the Company took over United Fiber System Limited (now Golden Energy and Resources Limited), a listed company in Singapore Stock Exchange, which engaging in forestry business.