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.

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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."

In year 2011, the Company reported a 209% increase in its Revenue from Rp 927 billion in 2010 to Rp 2,862 billion in 2011 with the Profits After Tax growing from Rp 34 billion in 2010 to Rp 302 billion in 2011, a 788% increase. This was largely driven by the phenomenal ramp up of its production from 1.765 mmt in 2010 to 4.390 mmt in 2011. The 2011 proved to be a landmark year for the Company and it is the constant endeavor to sustain organization's efforts towards growing the business and becoming one of the leading coal player in the Asia Pacific.

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.

Export sales in 2011 was recorded dominate 60,9% of total sales.

Exports made to various customers mainly China, India, and Thailand, Korea, Malaysia, and Philippines. The 39,1% of domestic coal sales company based on contract sales agreements of coal, with coal sales prices are negotiated and adjusted every year or shorter period of time based on coal quality and specification with reference to coal prices prevailing in the market.

The Company also operates a coal trading business, where the external coal spot purchases from various sources is made for resale. In future, this trading business is also intended for the purpose of mixing coal quality in order to get coal quality that suits the special needs of the customers who come from a variety of different market segment targets, either domestic or abroad. These trading activities were started in April 2010.

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