12-12-2016, 08:01 PM
Golden Energy and Resources Limited was formed through the completion of the Reverse Takeover of SGX Mainboard-listed United Fiber System Limited in 2015.
The Group is principally engaged in the exploration, mining, and marketing of thermal coal sourced from its coal mining concession areas, covering an aggregate of approximately 38,165 hectares in South Kalimantan, Central Kalimantan and Jambi (a province in Sumatra), Indonesia.
GEAR’s coal business, which is held by the PT Golden Energy Mines Tbk ("GEMS") Group, is valued at US$3.1 billion in an independent business valuation report by Jones Lang LaSalle Corporate Appraisal and Advisory Limited. GEAR holds a 66.9998% equity interest in GEMS, which is listed on the Jakarta Stock Exchange.
Backed by the Sinar Mas Group, one of Indonesia’s largest conglomerates, GEAR collectively owns the rights to mine more than 2.0 billion tonnes of thermal coal resources, with coal reserves of more than 700 million tonnes, as at 31 August 2016.
GEAR has reserves of primarily thermal coal with an average calorific value range of between 3,900 kcal/kg (arb) to 6,600 kcal/kg (arb).
Aside from coal mining and trading, GEAR is also engaged in the forestry business,owning forestry concession rights of 265,095 hectares in four regents located in South Kalimantan.
The Group is principally engaged in the exploration, mining, and marketing of thermal coal sourced from its coal mining concession areas, covering an aggregate of approximately 38,165 hectares in South Kalimantan, Central Kalimantan and Jambi (a province in Sumatra), Indonesia.
GEAR’s coal business, which is held by the PT Golden Energy Mines Tbk ("GEMS") Group, is valued at US$3.1 billion in an independent business valuation report by Jones Lang LaSalle Corporate Appraisal and Advisory Limited. GEAR holds a 66.9998% equity interest in GEMS, which is listed on the Jakarta Stock Exchange.
Backed by the Sinar Mas Group, one of Indonesia’s largest conglomerates, GEAR collectively owns the rights to mine more than 2.0 billion tonnes of thermal coal resources, with coal reserves of more than 700 million tonnes, as at 31 August 2016.
GEAR has reserves of primarily thermal coal with an average calorific value range of between 3,900 kcal/kg (arb) to 6,600 kcal/kg (arb).
Aside from coal mining and trading, GEAR is also engaged in the forestry business,owning forestry concession rights of 265,095 hectares in four regents located in South Kalimantan.