ITM?s coal reserves down by 73 tons
Tuesday, May 13 2014 - 12:10 PM WIB
IDX-listed coal mining company PT Indo Tambangraya Megah Tbk (ITM) announced on Tuesday its marketable coal reserves (100 percent equity basis) have decreased from 389.7Mt as of Dec. 31, 2012 to 316.7Mt as of Dec. 31, 2013, or by 73Mt.
The change in the marketable coal reserves was mainly the result of depletion of coal reserves from coal sales during 2013 in the amount of 29.2 Mt and inclusion of a new mine plan with revised economic parameters at Bharinto (+16Mt), revision of mine plan due to changes in economic parameters (coal prices and production cost) at Indominco (-35Mt) and Trubaindo (-21Mt).
ITM, which is a subsidiary of Thai energy giant Banpu PCL, operates five coal mine units in Indonesia including PT Indominco Mandiri, PT Trubaindo Coal Mining, PT. Bharinto Ekatama, PT. Kitadin and PT Jorong Barutama Greston.
ITM has prepared the statement in consistent with International Coal Reporting Standards (i.e Australasian Code for Reporting Mineral Resources and Ore Reserves - 2012 JORC CODE). This statement is based on estimates prepared by competent persons (considered suitably experienced under the JORC CODE) and technical studies and audits by SRK Consulting (UK) in March 2014.
The coal resources represent the potentially economic coal reserves identified by exploration programs and are inclusive of coal reserves. The coal reserves represent the part of the coal resources for which engineering studies & mine plans have been completed, with detailed production costs, revenues, and financial viability estimated. marketable coal resources are the saleable portion of the coal reserves taking account of coal processing losses.
ITM's Statement of Cool Resources and Reserves in million tonnes on o 100% equity basis:
| Mine Operation | Per 31 December 2013 | Per 31 December 2012 | ||||||
| Measured Resources | Indicated Resources | Total Resources | Marketable Proved Resources | Marketable Probable Resources | Total Reserves | Measured and Indicated Resources | Marketable Proved? and Probable Reserves | |
| Jorong | 128.7 | 12.4 | 141.1 | 3.8 | - | 3.8 | 142.5 | 4.6 |
| Indominco | 663.0 | 87.3 | 750.3 | 105.9 | 3.5 | 105.4 | 678.6 | 159.3 |
| -Blok Barat | 301.1 | 24.1 | 325.2 | 22.8 | 2.0 | 24.8 | 235.5 | 21.5 |
| -Blok Timur | 361.9 | 63.2 | 425.1 | 83.1 | 1.5 | 84.6 | 443.2 | 137.9 |
| Kitadin Embalut | 96.6 | 51.0 | 147.6 | 3.4 | 4.7 | 8.1 | 148.9 | 12.7 |
| Kitadin Tandung Mayang | 6.5 | 0.5 | 7.0 | 3.7 | - | 3.7 | 9.8 | 7.0 |
| Trubaindo | 259.9 | 150.0 | 409.9 | 53.1 | 12.0 | 65.1 | 317.9 | 93.9 |
| Bharito | 194.0 | 112.4 | 306.4 | 35.4 | 91.2 | 126.6 | 297.7 | 112.2 |
| TOTAL | 1348.7 | 413.6 | 1762.3 | 205.3 | 111.4 | 316.7 | 1595.4 | 389.7 |
Editing by Johannes Simbolon