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BAPEPAM-LK LICENSE NO:Kep-01/PM/P1/2003

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1. Pertambangan  Mining

 

Exploration Results include data and information generated by exploration programmes that may be of use to investors. The Exploration Results may or may not be part of a formal declaration of Mineral Resources or Ore Reserves.

 

 

Hasil Eksplorasi mencakup data dan informasi yang dihasilkan oleh program-program eksplorasi yang dapat berguna bagi investor. Hasil Eksplorasi itu mungkin atau mungkin tidak merupakan bagian dari suatu pernyataan resmi tentang Sumber Daya Mineral atau Cadangan Bijih.

 

The reporting of such information is common in the early stages of exploration when the quantity of data available is generally not sufficient to allow any reasonable estimates of Mineral Resources.

Pelaporan informasi tersebut umum dilakukan pada tahap-tahap awal eksplorasi ketika jumlah data yang tersedia umumnya tidak cukup untuk memungkinkan perkiraan wajar tentang Sumber Daya Mineral.

If a company reports Exploration Results in relation to mineralisation not classified as a Mineral Resources or an Ore Reserve, then estimates of tonnages and average grade must not be assigned to the mineralisation unless the situation is covered by Clause 18, and then only in strict accordance with the requirements of that clause.

Jika sebuah perusahaan melaporkan Hasil Eksplorasi sehubungan dengan mineralisasi yang tidak digolongkan sebagai Sumber Daya Mineral atau Cadangan Bijih, perkiraan tonase dan tingkat mutu rata-rata mineralisasi itu tidak boleh ditetapkan kecuali kalau keadaannya dicakup oleh Klausul 18 dan hanya  benar-benar sesuai dengan persyaratan klausul tersebut.

 

1.  Foreign Investor  opens 56,000 hectares of corn fields

 

 MEDAN, KOMPAS - The development of the Bukit Barisan integrated agropolitan zone which has been announced by the government of the province of North Sumatera has attracted foreign investors. In the near term a foreign investor will open corn fields covering an area of 56,000 hectares situated in the regency of Toba Samosir.

In the first phase of the project, the investor will open 5,000 hectares of corn fields. It is planned that in the second and third phases the investor will open another 10,000 hectares and 40,000 hectares, respectively. An MOU between the investor and the government of the regency was signed in the residence of Rudolf Pardede, governor of North Sumatera, last Monday, 14 August.

RE Nainggolan, head of the Development Planning Agency for the province, said that the MOU is part of the efforts to help develop the zone which covers nine regencies situated alongside the Bukit Barisan Mountains. He added that it is designed to develop areas in the zone which make agricultural and plantation products in an integrated manner.

 2. Media Indonesia daily of 9 October 2006

 

BREACHES OF CONTRACT

Firm in Kutai caused losses of IDR 1.9 trillion to the State

Jakarta, Media

A report has been made by the regent of West Kutai to the President that there are signs  PT ABC Coal, a coal mining company operating at West Kutai, East Kalimantan, has carried out manipulation and committed a breach of contract such that the State suffers a loss of IDR 1.9 billion.

Through his letter the regent has told the President that the company has committed not less than four (4) breaches of contract. Therefore, he requests that the national government review the company's contract of work for coal mining (Ind. PKP2B).

“The breaches of contract, among them, include manipulation of selling prices, non-performance of reclamation of mining sites which have been put in a mess and lack of attention to the communities,” he said yesterday.

He added," There are signs that the company has manipulated the selling price of its coal through a report to the government that it has sold coal at USD 17 per ton. As a matter of fact the selling price on the market stands at USD 50 per ton. Hence, there is a difference of USD 33 per ton in the price. The company produces 350,000 tons of coal per month.”

 

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