09 May 2022

IATA Proven Reserves Increase by 20.58 Million MT

Jakarta, 9 May 2022  The Indonesian Joint Committee for Mineral Reserves (KCMI) report on one of the Mining Business Permits (IUP) recently acquired by PT MNC Energy Investments Tbk (IATA), PT Arthaco Prima Energy (APE) found 20.58 million MT reserves with GAR of 3,250 kg/kcal in Phase 1 drilling program in an area of 380 Ha, out of a total current reserve area of 2,059 Ha. Phase 1 resources reached 138.85 million MT. 

With the addition of this KCMI report, proven coal reserves from 9 IUPs owned by IATA increased to 158.68 million from the previous 138.1 million MT.

Drilling activities will be carried out in stages and reserves will continue to grow if exploration results show coal findings. The management estimates coal reserves for all IUPs to be at least 600 million MT.

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