O UR
W OR
L D
O UR
TH O
U g
HT s
O UR
B U
s IN
E s
s
O UR
PE O
PL E
O UR
C O
M M
U N
IT IE
s O
UR g
O v
ERN A
N C
E O
UR IN
v E
s T
O R
s O
UR F
INAN C
E s
OU R
B US
IN E
S S
ADARO ENERgY 2012 ANNUAL REPORT
107
Coal resources as at Dec. 31, 2011 Calculated changes to Adaro Energys coal resources 2012 vs. 2011
Total measured, indicated
inferred coal resources Mt
Measured Mt Indicated Mt
Inferred Mt Adaro Energy
ownership equity Adaro Energy
attributable Total Measured,
Indicated Inferred Mt
Changes to operating
company total measured,
indicated inferred Mt
Changes to operating
company total measured,
indicated inferred
Changes to Adaro Energy
attributable total measured,
indicated inferred Mt
Changes to Adaro Energy
attributable total measured,
indicated inferred
2,408 729
814 865
100 2,408
170 7
170 7
297 116
96 85
297 89
30 89
30 south Paringin was not included in 2011 resources
NA 117
NA 117
NA 1,301
486 366
449 1,301
-34 -3
-34 -3
367 133
134 100
367 7
2 7
2
4,373 1,464
1,410 1,499
100 4,373
349 8
349 8
PT Bhakti Energi Persada was not acquired until 2012 1,401
NA 1,261
NA 1,817
NA 1,636
NA 186
NA 167
NA 745
NA 671
NA 2,696
NA 2,426
NA 1,093
NA 984
NA 19
NA 17
NA 7,957
NA 7,161
NA
110 72
31 7
25 28
- -
- -
10 10
3 -
- -
- 14
11 2
1 4
- -
- -
80 80
20 -
- -
- 60
60 15
- -
- -
70 70
18 -
- -
- 430
430 108
- -
- -
774 83
33 658
194 -
- -
-
286 250
36 75
215 -5
-2 -4
-2 -
- -
- 61
- -
- -
-
286 250
36 75
215 -5
- -4
-2 774
83 33
658 25
194 -
- -
- 4,659
1,714 1,446
1,499 98.40
4,588 344
8 345
8 PT Bhakti Energi Persada was not acquired until 2012
7,957 NA
7,161 NA
5 Based on PT. Mustika Indah Permais MIP 2012 JORC statement by Joseph Crisostomo CP Resources.
6 Tonnage based on Adaro Energy exercising its option to increase its 10 equity share in BEP to 90.
NB Totals may not add up due to rounding.
Adaro Energy JORC-Compliant Coal Resource Quality Metallurgical Coal Air Dried Basis
Operating company
Locality Coal resource quality estimated as at June 30, 2012
Ash adb Volatile matter adb
Total sulphur adb
IndoMet Coal
1
Lampunut metallurgical 4.2
28.5 0.55
Lampunut thermal Haju metallurgicalthermal
4.7 39.2
0.98 Luon metallurgicalthermal
3.6 18.7
0.72 Luon metallurgical
underground 3.4
18.8 0.56
Bumbun metallurgicalthermal 4.5
17.4 0.80
Juloi NorthWest metallurgicalthermal
4.5 27.7
0.49
Adaro Energy JORC-Compliant Coal Resource Quality Air Dried Basis
Operating company
Locality Estimated as at Dec. 31, 2012
Moisture in the analysis
sample adb
Ash adb Volatile
matter adb
Total sulphur
adb Calorific value
Kcalkg adb
PT Adaro Indonesia
2
Tutupan 19.1
2.2 40.5
0.12 5,436
North Paringin 19.1
3.4 38.4
0.32 5,443
south Paringin 18.9
3.5 38.3
0.25 5,439
Wara I 21.6
3.8 39.1
0.29 5,113
Wara II 18.8
4.4 41.6
0.33 5,262
Total South Kalimantan 19.8
2.9 40.0
0.20 5,336
PT Bhakti Energi
Persada
3
PT Bumi Kaliman sejahtera 14.3
5.9 41.4
0.17 5,328
PT Bumi Murau Coal 14.0
4.6 41.9
0.15 5,474
PT Birawa Pandu selaras 13.5
5.3 41.9
0.15 5,488
PT Khazana Bumi Kaliman 13.4
5.6 41.9
0.16 5,436
PT Persada Multi Bara 14.2
4.6 41.8
0.16 5,418
PT Telen Eco Coal 13.5
4.6 42.9
0.17 5,517
PT Tri Panuntun Persada 13.6
4.2 44.4
0.16 5,441
Total East Kalimantan 13.6
5.0 42.1
0.16 5,457
PT Mustika Indah Permai
4
Lahat Regency, south sumatra
21.5 6.0
37.4 0.49
5,167
Total South Sumatra 21.5
6.0 37.4
0.5 5,167
Total Adaro Energy sub-bituminous coal resources
5
inc. PT Adaro Indonesia PT Mustika Indah Permai
19.9 3.0
39.8 0.20
5,340 Total Adaro Energy low-rank coal resources
6
i.e. PT Bhakti Energi Persada 13.6
5.0 42.1
0.2 5,457
Quality of Coal Resources
Adaro Energy JORC-Compliant Coal Resource Quality Gross as Received Basis
Operating company
Locality Estimated as at Dec. 31, 2012
Total moisture
Ash gar Volatile
matter gar
Total sulphur
gar Calorific value
Kcalkg gar
PT Adaro Indonesia
2
Tutupan 28.0
2.0 36.0
0.11 4,843
North Paringin 28.7
3.0 33.8
0.28 4,799
south Paringin 30.8
2.9 32.7
0.21 4,651
Wara I 38.9
2.9 30.5
0.22 3,997
Wara II 43.6
3.1 28.9
0.23 3,657
Total South Kalimantan 32.3
2.4 33.7
0.16 4,514
PT Bhakti Energi
Persada
3
PT Bumi Kaliman sejahtera 47.3
3.6 25.4
0.10 3,272
PT Bumi Murau Coal 46.3
2.9 26.2
0.09 3,415
PT Birawa Pandu selaras 46.0
3.3 26.2
0.09 3,423
PT Khazana Bumi Kaliman 47.0
3.5 25.7
0.10 3,329
PT Persada Multi Bara 47.8
2.8 25.5
0.10 3,297
PT Telen Eco Coal 45.2
2.9 27.2
0.11 3,497
PT Tri Panuntun Persada 42.7
2.8 29.4
0.10 3,606
Total East Kalimantan 46.9
3.1 25.9
0.10 3,354
PT Mustika Indah Permai
4
Lahat Regency, south sumatra
34.2 5.0
31.3 0.41
4,333
Total South Sumatra 34.2
5.0 31.3
0.41 4,333
Adaro Energy total sub-bituminous coal resources
5
inc. PT Adaro Indonesia PT Mustika Indah Permai
32.4 2.5
33.6 0.17
4,506 Adaro Energy total low-rank coal resources
5
i.e. PT Bhakti Energi Persada 46.9
3.1 25.9
0.10 3,354
DELIvERINg POsITIvE ENERgY
108
increase in JORC coal resources overall due to gains in Tutupan and North Paringin plus the addition of
south Paringin coal. Wara 1 lost resources due to depletion and Wara 2 gained some tonnes.
In 2012, AI maintained its conservative practice of using only seams with cored intersections in drill
holes as points of observation and a 1,000-meter inferred resource radius. The AI Resource study
uses a cut-off depth that varies per deposit based on current mining economics. This method tends
to make the quoted resource relect the remaining potential within which further open-pit reserves
might be deined. The resource polygons retain vertical walls. AI intends to complete a life-of-mine
plan during 2013 which will allow a more focused evaluation of future resources in each mined area.
Overall, AI’s resources show a slight fall-off in rank as more of the higher-rank Tutupan coal
is mined. The effect is minimal, as shown in the resource coal quality tables at right.
JORC Coal Reserves: AI’s JORC-compliant coal
reserves show an overall slight gain of 30 million tonnes, mainly due to the introduction of the ive-year
mining plan reserves for North Paringin. North Paringin is currently being mined, but the reserves
have not yet been reported. Tutupan reserves dropped by 16 million tonnes and Wara 1 by 10 million
tonnes. Overall reserves were 921 million tonnes. The overall coal quality of AI’s reserves remained steady.
PT Mustika Indah Permai
JORC Coal Resources: since a JORC report by Marston released in March 2012, MIP has completed
another 127 drill holes, analyzed extra cores and gathered extensive LIDAR light detection and
ranging topography data. Using the new drilling and topography data, AEI remodeled the MIP deposit and
estimated the coal resources. The result was within 2 of the original resource estimate.
The MIP concession area contains three main coal seams and two minor seams, ranging from 1.6 to 17
meters thick. Examination of the changes between the Marston model and the Adaro Eksplorasi JORC
model showed minor coal loss due to more accurate mapping of topography along the crop line, which
showed some small areas where the upper half of the main B seam had been eroded. This was
balanced by more accurate topography down dip which reduced the overall ratio. The overall resource
tonnage reduction was 5 million tonnes.
Meanwhile, the increased drilling has increased the conidence level of our data by moving all but 8
million tonnes of coal resources into the measured category. AEI used both open holes and cored
holes as points of observation for JORC estimation purposes. Total measured, indicated and inferred
coal resources are 282 million tonnes, of which Adaro Energy owns 75, or 211 million tonnes.
The MIP coal resources quality has remained constant with that resolved in the Marston 2012
study, with the exception of sodium which has increased to an average of 4 over the whole
deposit due to the inluence of deeper cores where higher sodium levels occur. The MIP resources
are conined within a theoretical pit shell which is based on the C2 seam and has a deined high and
O UR
W OR
L D
O UR
TH O
U g
HT s
O UR
B U
s IN
E s
s
O UR
PE O
PL E
O UR
C O
M M
U N
IT IE
s O
UR g
O v
ERN A
N C
E O
UR IN
v E
s T
O R
s O
UR F
INAN C
E s
OU R
B US
IN E
S S
Coal resource quality as at June 30, 2011 Calculated quality changes to Adaro Energys
metallurgical coal resources 2012 vs. 2011 Notes
Ash adb Volatile matter adb
Total sulphur adb Ash adb
Volatile matter adb Total sulphur adb
1 Based on BHP Billitons 2012 Annual Report with the permission
of BHP Billiton. 4.2
28.5 0.55
- -
- -
- -
4.7 39.2
0.98 -
- -
3.6 18.7
0.72 -
- -
3.4 18.8
0.56 -
- -
4.5 17.4
0.80 -
- -
4.5 27.7
0.49 -
- -
Calculated as at Dec. 31, 2011
1
Calculated quality changes to Adaro Energy coal resources 2012 vs. 2011 Notes
Moisture in the analysis
sample adb
Ash adb Volatile
matter adb
Total sulphur adb
Calorific value Kcal
kg adb Moisture in
the analysis
sample adb
Ash adb Volatile
matter adb
Total sulphur adb
Calorific value Kcal
kg adb
1 2011 Adaro Indonesia coal quality estimates are restatements of the
quality in Adaro Indonesias 2010 JORC Coal Resources and Reserves
statement
2 PT Adaro Indonesias coal quality samples have been analysed to AsTM
standards 3 PT Bhakti Energi Persadas coal
quality samples have been analysed to AsTM standards
4 PT Mustika Indah Permais coal quality samples have been analysed to
IsO standards 5 The Adaro Energy group coal
quality was derived by combining the coal quality parameters of the Coal
Resources of the component operating companies using weight averaging
6 The Adaro Energy group coal quality was derived by combining the
coal quality parameters of the Coal Resources of the component operating
companies using weight averaging. 17.6
2.1 41.2
0.11 5,563
1.5 0.1
-0.7 0.01
-127 16.9
3.3 41.0
0.23 5,799
2.2 -0.1
-2.6 0.09
-356 south Paringin was not included in 2011 Resources
19.1 3.8
40.3 0.28
5,278 2.5
- -1.2
0.01 -165
19.3 4
41.4 0.28
5,215 -0.5
0.4 0.2
0.05 47
18.1 2.8
41 0.20
5,466 1.7
0.1 -1.1
0.01 -130
PT Bhakti Persada Energi was not acquired until 2012
22.2 6.5
36.6 0.49
5,114 -0.7
-0.5 0.8
- 53
22.2 6.5
36.6 0.49
5,114 -0.7
-0.5 0.7
-0.01 53
18.1 2.8
41.0 0.20
5,466 1.8
0.2 -1.2
- -126
PT Bhakti Persada Energi was not acquired until 2012 As at Dec. 31, 2011
1
Calculated quality changes to Adaro Energy coal resources 2012 vs. 2011 Notes
Total Moisture
Ash gar Volatile
matter gar
Total sulphur gar
Calorific Value Kcal
kg gar Total
moisture Ash gar
Volatile matter
gar Total sulphur
gar Calorific
value Kcal kg gar
1 2011 Adaro Indonesia Coal quality estimates are restatements of the quality
in PT Adaro Indonesias 2010 JORC Coal Resources and Reserves statement
2 PT Adaro Indonesias coal quality samples have been analysed to AsTM
standards 3 PT Bhakti Energi Persadas coal
quality samples have been analysed to AsTM standards
4 PT Mustika Indah Permais coal quality samples have been analysed to IsO
standards 5 The Adaro Energy group coal quality
was derived by combining the coal quality parameters of the coal resources of the
component operating companies using weight averaging.
27.1 1.9
36.5 0.10
4,922 0.9
0.1 -0.5
0.01 -79
29.1 2.8
35.0 0.20
4,948 -0.4
0.2 -1.2
0.08 -149
south Paringin was not included in 2011 Resources 38.9
2.9 30.4
0.21 3,986
- -
0.1 0.01
11 43.4
2.8 29.0
0.20 3,658
0.2 0.3
-0.1 0.03
-1
32.2 2.3
33.9 0.15
4,525 0.1
0.1 -0.2
0.01 -11
PT Bhakti Energi Persada was not acquired until 2012
33.9 5.5
31.1 0.42
4,345 0.3
-0.5 0.2
-0.01 -12
33.9 5.5
31.1 0.42
4,345 0.3
-0.5 0.2
-0.01 -12
32.2 2.3
33.9 0.15
4,525 0.2
0.2 -0.4
0.02 -19
PT Bhakti Energi Persada was not acquired until 2012
ADARO ENERgY 2012 ANNUAL REPORT
109
