INVESTOR & ANALYST UPDATE15 NOVEMBER 2021
3Q21 Results
DISCLAIMER
The information contained in this presentation is intended solely for your reference.
This presentation contains “forward-looking” statements that relate to future events, which are, by their nature, subject to significant risks and uncertainties. All statements, other
than statements of historical fact contained in this presentation including, without limitation, those regarding ITM’s future financial position and results of operations, strategy,
plans, objectives, goals and targets, future developments in the markets where ITM participates or is seeking to participate and any statements preceded by, followed by or that
include the words “believe”, “expect”, “aim”, “intend”, “will”, “may”, “project”, “estimate”, “anticipate”, “predict”, “seek”, “should” or similar words or expressions, are forward-looking statements.
The future events referred to in these forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond our control,
which may cause the actual results, performance or achievements, or industry results to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
These forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which ITM will operate in the future and are not a guarantee of future performance. Such forward-looking statements speak only as of the date on which they are made. ITM does not undertake any
obligation to update or revise any of them, whether as a result of new information, future events or otherwise. The information set out herein is subject to change without notice,
its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company.
ITM makes no representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved, and such forward-looking statements
represent, in each case, only one if many possible scenarios and should not be viewed as the most likely or standard scenario. No assurance given that future events will occur
or our assumptions are correct. Actual results may materially differ from those provided in the forward-looking statements and indications of past performance are not
indications of future performance. In no event shall ITM be responsible or liable for the correctness of any such material or for any damage or lost opportunities resulting from
use of this material. ITM makes no representation whatsoever about the opinion or statements of any analyst or other third party. ITM does not monitor or control the content of third party opinions or statements and does not endorse or accept any responsibility for the content or use of any such opinion or statement.
This presentation does not constitute an offer to sell or a solicitation of an offer to buy or sell ITM’s securities in any jurisdiction.
3Q21
Highlights
01
Conservation of white paperbark forest in Jorong mine area
Cash position gaining further from
$390M in 2Q21 to $510M in 3Q21,
enabling ITM to deliver more value to
shareholders
3Q21 highlights – upbeat financial results amidst extreme weather
4
EBITDA generated at $291M (+111%
qoq or +720% yoy), supported by
strong coal price increase in 3Q21
Stellar coal price
performance driving
the financial performance
and profitability up in 3Q21
despite mining activities
slowed down due to torrential rain
ITM’s 3Q21 ASP soared
into triple digit at US$
111.0/ton (+38% qoq or
+128% yoy), following a
very strong coal price in
the 3Q21
3Q21 production level was
at 4.6Mt (-3% qoq or -7%
yoy), lower than target as
ITM ensure the safe mining
conditions in its operations
Recognition in maintaining high
standard of governance as
acknowledged by receiving TOP
GRC 2021 4-stars award
ITM vaccinated its employee by joining
government vaccination program (>90%
employees at least vaccinated 1 time) and
donating in total Rp 16 bn (equivalent to
$1.1 mn) in 9 cities across 3 provinces
Handed over additional 2,540 ha of
rehabilitated watershed areas, pushing overall
14,433 ha completion since inception.
ITM endorse public health cause of communities and employee
Protecting our
Headquarters employee Starting in July 2021
ITM carried out vaccination
through Vaksinasi Gotong
Royong (VGR) in Siloam
Hospital, Jakarta, ensuring
protection for our Jakarta
employee and their family
members.
Simultaneous vaccinations in
operational areasStarting in July 2021
ITM carried out vaccination through
Vaksinasi Gotong Royong (VGR) to our
employee that worked at the mine sites
and their family members. Vaccination in
Bontang was implemented at several
location in Bontang area (PKT Hospital,
Military base, etc), while vaccination at
Melak was given at our mine site.
Donation to support health
facilities readiness starting in August 2021
ITM donated medical supplies and
health equipment across regional
hospitals and medical facilities across 3
provinces to improve readiness to
response against COVID-19 threat
during 3Q21. ITM also provided training
session and functionality testing of the
equipment.
5
T R A D I N G A N D S E R V I C E S
ITM way forward plan
6
M I N I N G B U S I N E S S
R E N E WA B L E S A N D OT H E R S
Organic coal
reserve growth
Continue on mining
exploration activities
to maximize current
coal resources and
reserves.
Greenfield coal
mines development
GPK mines
development are
undergoing, while TIS
and NPR mines will be
started next year.
Underground coal
gasification
Currently in the
feasibility study of
coal to ammonia
downstream project.
Investment
opportunities in clean techs minerals
Explore potential
investments in high growth
energy trends such as
mineral/metal mining
businesses.
Third-party coal
sourcingGenerating more
revenue through trading
and blending of third-
party coal.
In-house mining contractor
work at Melak cluster
TRUST to expand its mining
operation at Melak cluster by
mobilizing heavy equipment
and labor force.
Natural capital solutions
Investment in reforestation
and/or deforestation
prevention for carbon
offsetting along with land
and biodiversity
improvement.
Solar project potential
partnership
Prospecting potential
partners for solar rooftop
installation to supply
customers energy needs.
Melak solar power plant
Finalization of construction plan
of solar PV in Melak port with
energy storage system to
ensure continuous power output
throughout the day.
Digital solutions for
mining operations
Deployment of digital
solutions for mining operation
which improves monitoring
and cost control capabilities.
0.0
1.0 1.0
2.0
3.0
2021e 2022f 2023f 2024f 2025 Onward
Graha Panca Karsa (GPK) mine update
7
GENERAL INFORMATION
• GPK is a low sulphur, low CV coal concession which has IUP operation
license with concession area of 5,060 ha located in East Kalimantan;
the location is in-close proximity to ITM Melak cluster with concession
just across the Mahakam River/TCM Bunyut Port.
• GPK will produce low CV coal that will enrich ITM product portfolio
through a contrast coal profile compared with current ITM coal products.
• Trial-production is expected to start during late 4Q21 producing ~10 Kt.
• GPK will continue to build the supporting infrastructure, such as hauling
roads and develop its port infrastructure in order to realize its optimum
coal production potential.
• GPK is expected to reach 3 Mt/annum in medium/long-term production
with strip ratio profile of 4-5x.
BEK
TCM
TIS
NPR
Central
Kalimantan
East
Kalimantan
GPK
BunyutPort
S/R (bcm/t)
OUTPUT FORECAST
Unit: Mt
4.0x 2.5x 2.5x 3.5x 4.5x
3,900
CV GAR
(kcal/kg)
0.2
Sulfur
(%)
3.3
Ash
(%)
41.0
Moisture
(%)CO
AL
SP
EC
IFIC
AT
ION
Indicative Only
Trial
Period
EBP inaugural shipment marks the start as ITM coal trading arms
8
KEY BENEFITS
• Enable ITM to capture additional margins without owning reserves.
• Flexibility in logistic arrangement to fulfill different customers requirement.
• EBP ensures high quality product and services:
• Provide desired quality coal from Kalimantan and Sumatra for both
domestic and foreign customers.
• Collaborates with 3rd party coal producers with mutual beneficial
agreement to ensure the availability of coal for the customers.
• All products offered have been verified for its quality.
Jakarta
Muara Berau
Muara Jawa
Bontang Coal Terminal
Muara Musi Banyuasin
OPERATIONAL COVERAGE BUSINESS MODEL
Balikpapan Coal Terminal
Normal or Off-take Shipment
Blended
Product
Vessel
Customer
3rd Party
Mines
ITM Mines
GENERAL INFORMATION
Samarinda Port
Bunyut Port
• PT Energi Batubara Perkasa (EBP) was established to
accommodate ITM coal trading activities.
• EBP commenced its first shipment on August 27th, 2021.
• EBP shipped the traded coal from several shipping points in
Kalimantan and Sumatra Island, including from our Bontang Coal
Terminal (BoCT).
• To ship the coal to its customers, EBP operates 3 types of business
model including normal, offtake and direct shipment.
Jorong Port
3rd Party
MinesVessel
Direct or Off-take Shipment
Operation
Updates
02
Bunyut port equipped with telescopic coal loading technology
Operational summary 2021
10
▪ 3Q21 total output was below target as heavy rainfalls continues to
pour affecting all mine sites.
▪ 4Q21 production output target is expected to increase to 5.5 Mt
assuming the impact of weather condition is manageable with
production increases coming from both Bharinto and Trubaindo.
Lower strip ratio to be anticipated in the next quarter.
East Kalimantan
Bunyut Port
Balikpapan
Palangkaraya
Banjarmasin
Central Kalimantan
South Kalimantan
Samarinda
Jorong Port
1.7
East Kalimantan
4.94.6
4.0
4.7 4.6
5.5
3Q20 4Q20 1Q21 2Q21 3Q21 4Q21e
Unit: Mt
Indominco
Trubaindo
Bharinto
Kitadin
Jorong
OUTPUT TREND
2021 Target:
18.6-18.8 Mt
Kitadin Embalut
1.4 Mt
Indominco
7.3 Mt Trubaindo
4.0 Mt
Bharinto
5.1-5.2 Mt
Jorong
0.9 Mt
S/R (bcm/t)
SCHEMATIC
COMMENTS
10.0x 8.9x 11.5x 10.6x 9.3x10.5x
2.0 1.9 1.8 1.9
3Q20 2Q21 3Q21 4Q21e
Coal operations: Indominco Mandiri
11
▪ 3Q21 production slightly below target volume as Indominco
experienced hampered by bad weather.
▪ Indominco 4Q21 production output target is expected to slightly
increase production volume to 1.9 Mt with lower strip ratio.
S/R (bcm/t) 11.9x 11.0x
East Block
Santan River
Port stock yard
Bontang City
Asphalt haul road
2.5km
35km
Sea conveyor
Mine
stockyard
Inland
conveyor 4km
0 106 82 km4
West BlockROM
stockpile
Post
Panamax
95,000
DWT
2021 TARGET: 7.3 Mt Operations
Stockpile
Barge Ports
Hauling
Crusher
OUTPUT TRENDSCHEMATIC
COMMENTS
Unit: Mt
11.5x 9.7x
0.81.3 1.4 1.6
1.4 0.9 1.01.4
2.2 2.2 2.3
3.0
3Q20 2Q21 3Q21 4Q21e
8.9x 11.9x- Trubaindo:
:
Coal operations: Melak group – Trubaindo and Bharinto
12
▪ Trubaindo:
▪ 3Q21 production missed the target with slightly higher strip ratio due to
heavy rainfalls.
▪ 4Q21 production output target is expected to reach 1.4 Mt with lower
strip ratio.
▪ Bharinto:
▪ 3Q21 production lower than target with lower strip ratio as weather
condition remains wet.
▪ 4Q21 production output target is expected to increase to 1.6 Mt with
higher strip ratio.
Trubaindo
Bharinto
Unit: Mt
7.5x 6.6x- Bharinto:
S/R (bcm/t)
2021 TARGET: TCM 4.0 Mt | BEK 5.1-5.2 Mt
Mahakam
River
South Block 1
(Dayak Besar)
North
Block
40km
Mine to port
ROM
stockpile
Bunyut Port
0 10 2515 205 km
Product coal conveyor,
stacking,
stockpile
Bharinto 60km
south west of
Trubaindo North
Block
South Block 2
(Biangan)
PT. Bharinto
PT. Trubaindo
Kedangpahu
River
PT. TIS
East Kalimantan
Operations
Stockpile
Barge Ports
Hauling
Crusher
OUTPUT TRENDSCHEMATIC
COMMENTS
11.6x 8.4x
6.3x 7.3x
0.4 0.40.3
0.5
3Q20 2Q21 3Q21 4Q21e
Balikpapan
MahakamRiver
Samarindato Muara
Berau
Bontang city
Embalut
Embalut Port
to Muara Jawa
ROM
stockpile
0 106 82 km4
5km Mine to port
TD. Mayang
IMM EBIMM WB
Bontang Port
Operations
Stockpile
Ports
Hauling
Crusher
East Kalimantan
Coal operations: Kitadin Embalut and Tandung Mayang
13
▪ Kitadin Embalut:
▪ 3Q21 production was below target at 0.3 Mt and recorded higher
strip ratio as affected by bad weather condition.
▪ 4Q21 production output target is expected to rise into 0.5 Mt with
lower strip ratio.
▪ In 1Q22, the reserve in Embalut site is planned to be mined out
▪ Kitadin Td.Mayang:
▪ Mine closure and rehabilitation activities has been completed and
now waiting for approval from the government (Ministry of Energy
and Mineral Resources) .
- Embalut:
S/R (bcm/t)
10.6x 17.0x
2021 TARGET: EMB 1.4 Mt Unit: Mt
OUTPUT TRENDSCHEMATIC
COMMENTS
22.9x 15.5x
0.3 0.3 0.2 0.2
3Q20 2Q21 3Q21 4Q21e
Coal terminal
Jorong
Java Sea
Haul road
0 10 2515 205 km
20km
Operations
Stockpile
Ports
Hauling
Crusher
Pelaihari
7.8x 13.4x
Coal operations: Jorong
14
▪ 3Q21 production lower than target at 0.2 Mt as operation remained
hampered by heavy rainfalls.
▪ 4Q21 production output target is expected to remained at around 0.2
Mt level with higher strip ratio.
S/R (bcm/t)
2021 TARGET: 0.9 Mt Unit: Mt
OUTPUT TRENDSCHEMATIC
COMMENTS
11.8x 15.7x
Coal Market
Trends
03
Hauling road area at PT Indominco Mandiri
Global thermal coal market
16* Demand in other countries driven by Vietnam, ** Russia exports to non-CIS countries only *** JKT = Japan, South Korea and Taiw an
Unit: Mt SUPPLY DEMAND DEMAND
Current record prices are likely ease, but we are likely to be in a high-priced
environment through the northern hemisphere winter, and likely well into
2022. High natural gas prices helped to boost coal demand and price. There
is an extra demand owing to strong economic revival and restocking.
▪ China: Massive coal deficit drove domestic coal price to record high.
Government’s price intervention will not ease the market tightness.
▪ India: A severe coal shortage in Q3 driven by strong demand amid
supply constraints caused by rainfall. Rising global coal price keeps
Indian buyers away from imports.
▪ JKT***: The forthcoming colder winter will boost coal demand amid high
gas prices even higher nuclear availability and environmental concerns.
▪ Europe: Economy continues recover from pandemic drove electricity
demand. High gas prices made coal competitive. Coal prices hit record
highs due to strong demand, tight supply and weak renewables output.
SUPPLY
Global supply chain still struggle to recover from the Covid-19 with the
supply growth still lag demand recovery. There is high risks of supply
shortages in the coming winter.
▪ Indonesia: Export growth remains constrained by wet weather, Covid-19
prevention measures, and strong domestic demand. However, exports
still ahead of last year.
▪ Australia: Tight supply availability with limited upside due to constraints
around equipment availability and labour.
▪ Others: South Africa’s exports continue to be challenged by ongoing rail issues. Russia completed maintenance on the railway lines to the Far East with the prospect of increased supplies to Asia in Q4. Colombia’s exports are recovering due to a slowdown in protest actions and a ramp up in production. US thermal coal export is tight due to strong domestic demand and producers and transporters have reached maximum output.
TRENDSCOAL DEMAND AND SUPPLY CHANGE – 2021E VS 2020
EUROPE
+3
+2SOUTH AFRICA
-5+30
SOUTH ASIA
INDONESIA
OTHER N. ASIA
+15
RUSSIA**
+5
CHINA
+30
USA
+13
+5
COLOMBIA
AUSTRALIA
-13
+7
ATLANTIC
+5
-5
OTHERS *
+45
+23
PACIFIC
ITM ASP VS BENCHMARK PRICES
17Note: * Includes post shipment price adjustments as w ell as traded coal
** The New castle Export Index (previously know n as the Barlow Jonker Index – BJI)
COMMENTS
▪ Coal price has been keeping strengthening through 3Q21, mainly as a result of
strong demand together with tight supply. Particularly from late Aug. to Sep.,
coal price jumped to the level which we never experienced before.
▪ JPU Oct. 2021 – Sep. 2022 term contract negotiation finally broke due to the
huge gap on the point of view to the trend of future market.
▪ China has been continuing to play the overwhelming role in the global thermal
coal market. The new phenomenon occurred in Q3 was, the Chinese buyers
were not only taking the biggest quantity, but also being able to pay the
highest price in the world, we were seeing big quantity of high-quality Indo
thermal coal were sold to China, removed from those traditional premium
markets(e.g. Japan, Taiwan, Korea). This is one of the most important factors
which pushed up all the major Indexes to the historical record. As a nature
result, the global thermal coal market was in obvious overheated situation
since later Aug. until mid Oct..
▪ Newcastle future price has been keeping its significant backwardation through
Q3 2021, while still at very healthy price levels for the coal mining industry.
▪ Key price metrics:
▪ ITM ASP 3Q21 : US$111.0/t* (+38% QoQ)
▪ NEX (October 29th, 2021)**: US$214.7/t
ITM ASPs vs thermal coal benchmark prices
20
60
100
140
180
220
260
Jan
-16
Apr-
16
Jul-
16
Oct-
16
Jan
-17
Apr-
17
Jul-
17
Oct-
17
Jan
-18
Apr-
18
Jul-
18
Oct-
18
Jan
-19
Apr-
19
Jul-
19
Oct-
19
Jan
-20
Apr-
20
Jul-
20
Oct-
20
Jan
-21
Apr-
21
Jul-
21
Oct-
21
Unit: US$/t
Monthly
NEX
Quarterly
ITM ASP
US$111.0/t
US$232.5/t0
50
100
150
200
250
2007
2009
2011
2013
2015
2017
2019
2021
Monthly NEX
ITM coal sales 9M21
18
MALAYSIA
0.5 Mt
PHILIPPINES
THAILAND
CHINA
0.5 Mt
INDONESIA
3.2 Mt
S KOREA
0.4 Mt
4.1 Mt
0.2 Mt
INDIA
1.0 Mt
TAIWAN 1.4 Mt
0.2 Mt
VIETNAM
0.9 Mt
BANGLADESH
OTHERS
0.3 Mt2.7
JAPAN
2.1 MtChina 28%
Indonesia 21%Japan
14%
Phillippines10%
Thailand 7%
Bangladesh6%
Malaysia 4%
India 3%
Taiwan 3%
Vietnam 1% Korea 1% Others 2%
Total coal sales 9M21: 14.8 Mt
COAL SALES BREAKDOWN BY DESTINATION COAL SALES 9M21
Indicative coal sales 2021
19
COAL SALES CONTRACT AND PRICING STATUS
100%
Contract Status
Contracted
84%
16%
Price Status
Fixed
Indexed
Target sales 2021: 20.2-20.4 Mt
Financial
Summary
04
Power generation installation activity in Indominco site
Highlights of 3Q21 and 9M21 results
21
Unit: US$ million
9M21
14.8
89.0
1,323
40%
449
514
271
2Q21
4.9
80.3
392
36%
117
138
76
3Q21
5.8
111.0
647
47%
269
291
154
Coal sales (Mt)
ASP (US$/t)
Total Revenue
Gross Profit Margin
EBIT
EBITDA
Net Income
9M20
15.4
53.8
872
16%
62
126
39
35
142
304
140
53116%
36%47%
16%
40%
3Q20 2Q21 3Q21 9M20 9M21
Gross Profit GPM
219
392
647
872
1,323
3Q20 2Q21 3Q21 9M20 9M21
Unit: US$ million
Unit: US$ million
FY20: US$ 187 mio
FY19: US$ 242 mioUnit: US$ million
Unit: Gross profit is US$ million, GPM is % of revenue FY20: 17%
FY19: 19%
FY20: US$ 1,715 mio
FY19: US$ 1,185 mio
FY20: US$ 38 mio
FY19: US$ 127 mio
GROSS PROFIT AND GROSS PROFIT MARGIN
NET PROFIT
REVENUE
EBITDA
Profitability – Income statement
22
35
138
291
126
514
3Q20 2Q21 3Q21 9M20 9M21
1076
154
39
271
3Q20 2Q21 3Q21 9M20 9M21
10.0 10.5 10.6 10.5 10.9
3Q20 2Q21 3Q21 9M20 9M21
Unit: US$/Ltr
Unit: Bcm/t
Avg. FY20: $0.41ltr
Avg. FY19: $0.61ltrUnit: US$/t
Unit: US$/t Avg. FY20: $41.9/t
Avg. FY19: $46.8/t
Avg. FY20: 10.1
Avg. FY19: 10.9
Avg. FY20: $51.4/t
Avg. FY19: $60.9/t
*Cost of Goods Sold + Royalty + SG&A
PRODUCTION COST
TOTAL COST*
WEIGHTED AVERAGE STRIP RATIO
FUEL PRICE
Coal
Non-Coal
Coal
Non-Coal
Cost analysis
23
0.380.51 0.55
0.410.50
3Q20 2Q21 3Q21 9M20 9M21
36.2 40.0 41.4 40.2 41.3
37.8 40.0 41.4 42.8 41.5
3Q20 2Q21 3Q21 9M20 9M21
46.453.8
60.450.4 55.6
48.153.8
60.453.0 55.8
3Q20 2Q21 3Q21 9M20 9M21
Other Assets1,000
Cash510
Equity1,038
Other Liabilities
432
Borrowing 40
Asset Liabilities & Equity
Balance sheet
24
9M21 BALANCE SHEET
Unit: US$ million
BANK LOAN DETAILS
Unit: US$ million
KEY RATIOS
9
31
Current maturities of
Long-term bank loan
Long-term
bank loan
0.01
0.05
0.04
FY19 FY20 9M21
Debt to Equity (x)
Net Gearing (%)
(17%)(21%)
(44%)
FY19 FY20 9M21
Note: Net gearing formula is net debt to total debt and equity
1.4
9M21 capital expenditure realization
25Note: Total capex plan including Jakarta office after elimination
Units: US$ million
Realized up to Sep 2021
2021 CAPEX plan
2.4
3.6
4.7
40.5
19.5
1.7
6.3
11.5
3.3
Indominco
18.3
6.8
Trubaindo
Bharinto
TRUST
Other
ITM Consolidated
Q&A
Session
05
Hauling road area at PT Bharinto Ekatama
Unit: US$ thousand 9M21 9M20 YoY%
Net Sales 1,323,345 871,884 52%
Gross Profit 531,047 139,833 280%
GPM 40% 16%
SG&A (81,801) (77,548)
EBIT 449,246 62,285 621%
EBIT Margin 34% 7%
EBITDA 514,490 125,680 309%
EBITDA Margin 39% 14%
Net Interest Income / (Expenses) 191 (370) n.m
FX Gain / (Loss) (2,026) (6,849) n.m
Derivative Gain / (Loss) (91,081) 424 n.m
Others (4,302) 18,734 n.m
Profit Before Tax 352,028 74,224 374%
Income Tax (80,544) (35,593)
Net Income 271,484 38,631 603%
Net Income Margin 21% 4%
Income statement – 9M21 vs 9M20
Income statement – 3Q21 vs 2Q21
Unit: US$ thousand 3Q21 2Q21 QoQ%
Net Sales 647,042 392,063 65%
Gross Profit 303,703 142,454 113%
GPM 47% 36%
SG&A (34,951) (25,755)
EBIT 268,752 116,699 130%
EBIT Margin 42% 30%
EBITDA 290,728 138,044 111%
EBITDA Margin 45% 35%
Net Interest Income / (Expenses) (64) 313 n.m
FX Gain / (Loss) 1,118 879 27%
Derivative Gain / (Loss) (71,649) (18,780) 282%
Others (325) (1,549) n.m
Profit Before Tax 197,832 97,562 103%
Income Tax (43,950) (22,012)
Net Income 153,882 75,550 104%
Net Income Margin 24% 19%
30
95.07%
5 Mt
ITMG
65%
PT Indominco
Mandiri
(CCOW Gen I)
PT Trubaindo Coal
Mining
(CCOW Gen II)
PT Kitadin-
Embalut
(IUP)
PT Jorong Barutama
Greston
(CCOW Gen II)
PT Indo Tambangraya Megah Tbk.
99.99% 99.99% 99.99% 99.99%
Banpu
Public35%*
East Kalimantan East Kalimantan South Kalimantan
INDONESIAN STOCK EXCHANGE
IPO 18th Dec 2007
6,100-6,500 kcal/kg5,600-6,200 kcal/kg 5,400-5,600 kcal/kg 4,300-4,400 kcal/kg
2.5 Mt 0.9 Mt 0.7 Mt
PT Bharinto
Ekatama
(CCOW Gen III)
99.00%
East and
Central Kalimantan
6,100-6,500 kcal/kg
3.7 Mt
East Kalimantan
296 Mt
38 Mt
Resources
Reserves
403 Mt
39 Mt
99 Mt
2 Mt
432 Mt
146 Mt
65 Mt
99.99%
PT Tambang Raya
Usaha Tama
Mining Contractor
99.99%
Jakarta Office
PT ITM Indonesia
InvestmentJakarta Office
Exp: Mar 2028 Exp: Feb 2035Exp: May 2035Exp: Jun 2041 Exp: Feb 2022
PT ITM Energi Utama
Power InvestmentJakarta Office
PT ITM Batubara Utama
Investment
99.99%
99.99%
Jakarta Office 9 Mt
TRUSTIndominco Trubaindo KitadinBharinto Jorong
IEU
IBU
* : ITM own 2.95% from share buyback program
PT ITM Banpu Power
Power InvestmentJakarta Office
70.00%
IBP
5.7 Mt
ITMI
GEM
PT GasEmas
Fuel TradingJakarta Office
3.90%
Sales 9M21
PT Tepian Indah
Sukses
(IUP)
East Kalimantan
6,400 kcal/kg
Exp: Apr 2029
NPR
70.00%
Central Kalimantan
5,500 kcal/kg
GPK
PT Nusa Persada
Resources
(IUP)
Exp: May 2033
PT Energi Batubara Perkasa
Coal TradingJakarta Office
EBP
99.90%
143 Mt
77 Mt
(Not Yet Operating)(Not Yet Operating)
ITM structure
94.80%
99.90%
TIS
East Kalimantan
3,900 kcal/kg
PT Graha Panca
Karsa
(IUP)
Exp: Sep 2029
117 Mt
(Not Yet Operating)
Note: Updated Coal Resources and Reserves as of 31 Dec 2018 based on estimates prepared by competent persons (considered suitably experienced under the JORC Code) and
deducted from coal sales volume in FY19, FY20, and 9M21. For GPK and TIS, Coal Resources and Reserves number has not been verified by Independent 3rd party.
SME
99.99%
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