166
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IABlE, STrong, EFFICIEnT
PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 56
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012
Expressed in thousands of
©
S Dollars, unless otherwise stated
1. GENERAL continued
d. Cooperation Agreement
On 25 August 1990, IBT entered into a Basic Agreement with PT Persero Pelabuhan Indonesia III formerly Perum Pelabuhan III “Pelindo III” for the construction, development and operation of a Public Coal Port in Pulau Laut,
South Kalimantan. On 10 November 1994, IBT and Pelindo III amended the Basic Agreement to a Cooperation Agreement “Agreement”. Under the terms of the Cooperation Agreement, IBT commenced its 30-year operating
period on 21 August 1997 and has an obligation to pay royalties to Pelindo III based on a certain percentage of the revenue from management services for the coal bulk terminal.
On 18 August 2009, IBT and Pelindo III amended the Agreement in relation to the expansion of IBT’s business to include the management of the liquid bulk terminal. Under the amendment, IBT has an obligation to pay Pelindo III
a share of the handling fee at a certain amount per tonne for unloading and loading activities.
On 9 February 2011, IBT and Pelindo III has further agreed to amend the royalty fee for the management of the coal bulk terminal services from a certain percentage of the revenue to a fixed rate per tonne. The fixed rate is effective
from 1 January 2010 to 20 August 2012, subsequently extended to 20 August 2017.
e. Barito Channel Cooperation Agreement
On 28 August 2007, PT Ambang Barito Nusapersada “Ambapers” appointed SDM as a partner to execute the dredging of 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
