PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 56
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2014 AND 2013
Expressed in thousands of US Dollars, unless otherwise stated
1. GENERAL continued
e.
Barito Channel Cooperation Agreement
On 28 August 2007, PT Ambang Barito Nusapersada “Ambapers” appointed SDM as a partnership winner to execute the dredging of the Barito Channel, which includes river-mouth dredging, maintenance dredging and financing the
channel dredging project. On 25 March 2008, SDM entered into a Cooperation Agreement with Ambapers to execute this appointment. The term of the agreement is 15 years commencing on the date on which the channel utilisation
service fee is charged by Ambapers. Afterwards, SDM will be given the first right to consider extension or refusal to extend for the next five years, with a guarantee from Ambapers that the terms and conditions offered to third parties
will not be easier to satisfy or more beneficial than those offered to SDM.
Ambapers charges a channel fee for every ship that passes through the Barito Channel in accordance with the regulations set by the local government. Revenue from management of channel fees is distributed to the local
government, Ambapers and SDM in the determined proportions on the fifth day of the following month.
f. Mining Business Permits
As at 31 December 2014, other than the CCA entered into by Adaro, the Group had the following mining business permits unaudited:
Decree Permit
Period Years
No Number
Date By
Type Holder
Location
1 No. 503188KEP
PERTAMBEN2010 29 April 2010
Regent of Lahat IUPOP
MIP 20
Lahat Regency, South Sumatera Province
2 No. 256KPTS
TAMBEN2011 9 March 2011
Regent of Muara Enim
IUPOP BEE
20 Muara Enim Regency,
South Sumatera Province 3
No. 540.1K.288 HKV2011
10 May 2011 Regent of East Kutai
IUPOP BMC
20 East Kutai Regency, East
Kalimantan Province 4
No. 540.1K.289 HKV2011
10 May 2011 Regent of East Kutai
IUPOP PMB
20 East Kutai Regency, East
Kalimantan Province 5
No. 540.1K.490 HKV2010
21 May 2010 Regent of East Kutai
IUPOP TEC
28 East Kutai Regency, East
Kalimantan Province 6
No. 540.1K.665 HKVIII2012
6 August 2012 Regent of East Kutai
IUPOP KBK
20 East Kutai Regency, East
Kalimantan Province 7
No. 540.1K.666 HKVIII2012
6 August 2012 Regent of East Kutai
IUPOP BKS
20 East Kutai Regency, East
Kalimantan Province 8
No. 540.1K.545HKVI 2013
11 June 2013 Regent of East Kutai
IUPOP TPP
20 East Kutai Regency, East
Kalimantan Province 9
No. 540.1K.546HKVI 2013
11 June 2013 Regent of East Kutai
IUPOP BPS
20 East Kutai Regency, East
Kalimantan Province 10
No. 188.4583Kum Tahun 2009
8 April 2009 Regent of Balangan
IUPOP PCS
20 Balangan Regency, South
Kalimantan Province 11
No. 188.45131Kum Tahun 2009
21 July 2009 Regent of Balangan
IUPOP SCM
20 Balangan Regency, South
Kalimantan Province 12
No.188.45215Kum Tahun 2009
16 December 2009 Regent of Balangan
IUPE LSA
6 Balangan Regency, South
Kalimantan Province The IUPE of LSA is currently in the evaluation and verification process to change the status to an IUPOP
IUPOP: Operation and Production Mining Business Permit IUPE: Exploration Mining Business Permit
158
PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 57
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2014 AND 2013
Expressed in thousands of US Dollars, unless otherwise stated
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Presented below are the significant accounting policies adopted in preparing the consolidated financial statements of the Group. These policies have been consistently applied to all the years presented, unless otherwise stated.
a. Basis of preparation of the consolidated financial statements
