OUR COAL ASSETS

BEK


Established in March 2008, BEK initially obtained an Exploration KP from the regional government in January 2009 to explore and develop a coal concession in East Kalimantan province. It secured an operation production mining business license (Izin Usaha Pertambangan – IUP Operasi Produksi) for the concession in April 2010 and subsequently commenced commercial production in February 2012. The BEK IUP is valid for 20 years and can be extended twice for a period of ten years each. The validity of the mining license is effective through to April 2031. The area is classified as non-forest or other use land (Areal Penggunaan Lain – APL) and thus no IPPKH is required before mining operations and commence.

BEK concession covers a total of 4,570 ha of land located in the Tering and Long Iram districts of the Kutai Barat regency in Indonesia province of East Kalimantan. Coal within the BEK concession is characterised as high moisture, low ash, low sulphur and low energy coal.

 Category   Mineral Type  Gross Attributable to License 1    Net Attributable to Issuer 4  Remarks
Tonnes
(millions)
Grade Tonnes
(millions)
Grade Change from
previous update
2
(%)
Reserves 5              
Proved  Coal 9.6 Lignite Class B 9.5 Lignite Class B 0% No Change
Probable Coal 2.8 Lignite Class B 2.8 Lignite Class B 0% No Change
Total Coal 12.4 Lignite Class B 12.3 Lignite Class B 0% No Change
Resources 3 & 5
Measured Coal 14.4 Lignite Class B 14.2 Lignite Class B 0% No Change
Indicated Coal 5.9 Lignite Class B 5.8 Lignite Class B 0% No Change
Inferred Coal 7.2 Lignite Class B 7.1 Lignite Class B 0% No Change
Total Coal 27.5 Lignite Class B 27.2 Lignite Class B 0% No Change

Notes:
1 License refers to BEK Production Operation IUP.
2 Previous Coal Reserves and Coal Resources estimates were reported as at 31 December 2020.
3 Resources are inclusive of Reserves.
4 The results presented are rounded to reflect the accuracy of the estimates. Minor discrepancies are due to rounding and are not considered material by SMGC.
5 Resources and Reserves are reported in accordance with SMGC’s interpretation of the JORC Code 2012 Edition.