|At a glance|
PT Golden Energy Mines Tbk (GEMS) is the holding company of 12 subsidiaries with 10 subsidiaries engaged in thermal coal mining with calorific value ranges between 5,200-6,100 kcal / kg ( adb), with mining projects are entirely located in the territory of Indonesia which spread in South Sumatra, Jambi, South Kalimantan and Central Kalimantan. The entire mining project area of 10 subsidiaries is 47,500 hectares. since it was established, the Company is only engaged in mining business through its subsidiaries and Coal Trade. The Company have total reserves of 911.25 mmt as per 31 December 2011.
The Company became a public company and successfully completed its Initial Public Offering ( IPO) and listed on the Indonesia Stock Exchange in November 2011, with market capitalization as of end of 2011 amounting to Rp 16.029.411.925.000.-. The Company would be investing significant part of the IPO proceeds in developing infrastructure and for debottlenecking initiatives to enhance throughput from the mines.
"Sinarmas Group has committed to making GEMS to become one of the leading coal player in the Asia Pacific. GEMS started coal operations only years ago; now GEMS currently have skilled engineering and geology teams and also manage by experienced management team."
Currently, the Company sells coal to Indonesia domestic market as well as to the export markets to meet the needs of customers especially China, India, Thailand, Korea, Malaysia and Philippines which mainly consist of power plants, paper factories, cement industries and coal trading companies who purchase coal for resale.