ITMG reports lower marketable coal reserves
Wednesday, May 13 2015 - 04:13 AM WIB
IDX-listed coal mining company PT Indo Tambangraya Megah Tbk (ITMG) reported Tuesday lower coal reserves as of end December 2014 based on 2012 JORC CODE system.
The company said in a statement that total marketable coal reserves (100% equity basis) have decreased from 316.7 million tons (Mt) as of December 31, 2013 to 251.2Mt as of December 31, 2013, or by 65.5 Mt.
The company explained that the change in the marketable coal reserves was mainly the result of:
1. Depletion of coal reserves from coal sales during 2014 in the amount of 28.965Mt
2. Revision of mine plan with revised economic parameters (coal prices and production cost) at lndominco (-6Mt), Trubaindo (-6Mt) and Bharinto (-24Mt).
ITMG's statement of coal resources and reserves in million tons on 100 percent equity basis.
| Mine Operation | Measured Resources | Indicated Resources | Measured and Indicated Resources | Marketable Proved Reserves | Marketable Probable Reserves | Marketable Proved and Probable Reserves | Measured and Indicated Resources | Marketable Proved and Probable Reserves |
| Jorong | 127.3 | 12.4 | 139.7 | 2.5 | 0.0 | 2.5 | 141.1 | 3.8 |
| Indominco | 643.3 | 76.5 | 719.8 | 87.9 | 0.4 | 88.3 | 750.3 | 109.4 |
| - West Block | 273.6 | 18.6 | 292.2 | 12.0 | 0.0 | 12.0 | 325.2 | 24.8 |
| - East Block | 369.7 | 57.9 | 427.6 | 75.9 | 0.4 | 76.3 | 425.1 | 84.6 |
| Kitadin Embalut | 95.2 | 51.0 | 146.2 | 1.5 | 4.7 | 6.2 | 147.6 | 8.1 |
| Kitadin Tandung Mayang | 4.4 | 0.5 | 4.9 | 1.8 | 0 | 1.8 | 7.0 | 3.7 |
| Trubaindo | 274.2 | 116.2 | 390.3 | 31.0 | 21.7 | 52.7 | 409.9 | 65.1 |
| Bharinto | 142.1 | 74.3 | 216.4 | 22.5 | 77.2 | 99.7 | 306.4 | 126.6 |
| Total | 1,286.5 | 330.9 | 1,617.3 | 147.2 | 104.0 | 251.2 | 1,762.3 | 316.7 |
Editing by Reiner Simanjuntak