Expanding Its Portfolio, Petrindo Jaya Kreasi Diversified Business into Metallurgical Coal and Gold Mineral Mining Sectors

Jakarta, 4 September 2023 – PT Petrindo Jaya Kreasi Tbk (IDX: CUAN), a holding company that manages
a subsidiary in the coal mining sector, diversified its business by expanding into the metallurgical coal
and gold mineral mining sectors. Knowing that Indonesia is one of the countries that has considerable
potential for metallurgical coal and gold resources, the Company adapts its business and tries to seize
these opportunities through its two subsidiaries, PT Daya Bumindo Karunia (DBK) and PT Intam
Even though it has been mapped to have potential metallurgical coal resources, Indonesia still relies
on imports to meet industrial needs for this type of coal. Therefore, the metallurgical coal mining by
DBK, which is located in Murung Raya Regency, Central Kalimantan, is expected to be able to provide
added value in the mining sector by playing a role in reducing import numbers and strengthening the
independence of the national industry.
Michael, President Director of PT Petrindo Jaya Kreasi Tbk said, “We are optimistic that expanding
our scope will encourage positive business growth. This effort is also in line with our strategy, which
focuses on strengthening the Company’s competitive position not only in the energy sector but also
in the industrial sector through metallurgical coal mining. This type of coal can produce coke, which
is used as the main raw material in the steel industry. In addition, this new business line will also
contribute to meeting domestic demand for metallurgical coal and support import substitution.”
The 14,800 hectares mining area owned by DBK is located adjacent to the coal concession owned by
other subsidiaries of the Company, PT Bara International so that the two subsidiaries can utilize the
same infrastructure and road access to optimize operational efficiency. Based on information
compiled by an independent third party in 2011 using JORC 2004 principles, DBK recorded its coal
resources (inferred, indicted, probable) at 226.1 million tonnes, with coal reserves (probable &
proven) of 99.5 million tonnes.
Michael added that the Company would update DBK’s reserves and resources, carry out further
exploration and coal mining activities in accordance with the Work Plan and Budget (RKAB) approved
by the Government.
Furthermore, the Company of a view that gold minerals are potential to become one of the essential
and high-value mining commodities. Therefore, the Company tap into this business through its
subsidiary, INTAM, which holds an 18,500-hectare gold mining concession area in Sumbawa Regency,
West Nusa Tenggara, adjacent to two other gold concessions in Sumbawa.
“Business diversification through gold mining is a form of the Company’s transformation in
strengthening its portfolio for a more sustainable business. Through INTAM, the Company expects to
deliver substantial performance to provide better value for Shareholders, the Indonesian economy
and the surrounding community,” said Michael.
Following the revocation of 2,078 Mining Business Permits (IUP) by the Governmentthrough the
Ministry of Investment/the Investment Coordinating Board (BKPM) in early 2022, the Company
welcomes the Government’s decision to cancel the revocation of some IUPs, including the IUP held by
the Company’s subsidiaries, namely DBK and INTAM. After conducting review, hearings, submission
of reports, and satisfaction of all the required administrative requirements, the BKPM cancelled the
revocation of IUP held by DBK and INTAM, so that they could proceed with their production and
operational activities in their respective concession areas. Currently, DBK and INTAM are finalizing
the final administrative process as required by the Ministry of Energy and Mineral Resources, to
confirm such cancellation.


*The Company has informed this matter in the Interim Financial Report 2Q (reviewed on a limited
basis) which has been submitted to the SPE-IDX electronic reporting system on 30 August 2023

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