PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 566
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2014 AND 2013
Expressed in thousands of US Dollars, unless otherwise stated
42. SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued
d. Sales commitments
As at 31 December 2014, Adaro had various commitments to deliver approximately 149.7 million metric tonnes of coal to various buyers, subject to price agreements. The coal will be delivered periodically from 2015 until 2022.
e. Capital expenditure
As at 31 December 2014, the Group had purchase orders for mining equipment and vessel construction amounting to US19,646.
f. Forestry fee
Based on Government Regulation No. 33 dated 16 May 2014 which replaces Government Regulation No. 2, dated 4 February 2008, all companies that have activities in production and protected forest areas not related to forestry will
have an obligation to pay a forestry fee with tariff ranging from Rp1,600,000 full amount to Rp4,000,000 full amount per hectare using a certain formula. This fee is effective from August 2014. The Group has recognised this fee
on an accrual basis.
g. Legal proceedings
From time to time, the Group is involved in various legal proceedings as a normal incident to the Group’s business. The Group is of the opinion that adverse decisions in any pending or threatened proceedings, or that any amounts it may be
required to pay by reason thereof will not have a material adverse effect on its consolidated financial condition or the consolidated results of its operations.
h. Fuel Facilities Agreement
On 1 September 2009, IBT entered into a Fuel Facilities Agreement with Shell. Based on the agreement, Shell agreed to build a fuel storage facility with a minimum capacity of 60,000 metric tonnes of diesel on land belonging to IBT and IBT
agreed to build shared facilities within the terminal for unloading and loading of the diesel. For the use of the shared facilities, Shell agreed to pay a handling fee of a certain amount per barrel of the loaded quantities of diesel. The
agreement will expire on 31 December 2022. At the end of the agreement period, Shell will transfer the ownership of the fuel storage facility to IBT.
On 26 August 2013, IBT and Shell amended and restated the Fuel Facilities Agreement whereby Shell agreed to build an additional jetty and install the flow meters within the terminal for loading diesel. At the end of the agreement
period, Shell will transfer the ownership of the fuel storage facility, additional jetty and flow meters together with the transfer of operation to IBT. Under the amendment of this agreement, IBT agreed to amend the handling fee for the use
of the shared facilities.
i. Ministerial Regulation No. 182009
