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Agenda
Overview Corporate Structure Coal and Non Coal Coal Production Recent Update on Reserves and Production Operational Performance Summary of Financial Highlights Selling Prices and Cash Cost Income Statement H1 2012 Dividend History Awards and Recognitions Corporate Fundamental Strengths Snapshots Location, Environmental, CSR & Safety Kaltim Prima Coal Arutmin Indonesia
Overview
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One of the largest coal exporters globally
Leading natural resources group in Indonesia and the largest thermal coal producer in Indonesia, with together (KPC and Arutmin) commanded a dominant 26.6% market share of Indonesia coal production in 2009
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2.6 billion metric tonnes of marketable coal reserves from three mining assets and 10.0 billion metric tonnes of coal resources (excluding reserves)(1) Large potential for reserves expansion; KPC only partially explored
Ideally located to serve important markets in Asia, Europe and South America Open cut mining with captive coal processing facilities Dedicated infrastructure e.g coal loading terminals, port facilities and conveyors Segment coal and non coal businesses
Unlocking value by separating coal from metals business - BUMI will concentrate on increasing thermal coal dominance - BRMS created as a listed entity with exclusive focus on metals industry
65%
KPC
80%
70%
99.9%
70%
100%
80%
60%
Effective ~29%
Effective ~24%
Newmont Nusa Tenggara Gold (associated company) Bumi Japan Marketing Services
100%
Effective ~85%
Coal Production
KPC/Arutmin 100m tons 104 (E) KPC/Arutmin 100m tons + upsides from Pendopo + upsides from FBS/Pendopo
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2012 Companies Estimated Annualised Capacity 51 33 1 85 Estimated Production 45 30 75 Estimated Annualised Capacity 75 40 7 122
Arutmin: Senakin Satui Batulicin Sub Bituminious Coal Mulia & Asam-Asam Other Areas
382 180 129 691 604 501 1.796 1.263 10.566 7.782 2.784 35,8%
412 252 183 847 914 501 2.262 1.950 13.142 10.689 2.453 22,9%
Operational Performance
OB Removed
(in mn bcm)
Coal Mined
(in mn tons)
Strip Ratio
(in bcm/t)
759 633
360 359
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60
30
33
10,5x
11,5x
12,1x
11,1x
2010
KPC
2011
Arutmin
H1'11
FBS
H1'12
2010
2011
KPC
H1'11
FBS
H1'12
2010
2011
H1'11
H1'12
Arutmin
1H2011 AsRestated Revenue CostofRevenue GrossProfit OperatingIncome NetIncome(loss) 1.792,4 (1.143,1) 649,4 461,4 231,7
1H2012
FY2011 AsRestated CurrentAssets NonCurrentAssets TotalAssets CurrentLiabilities NonCurrentLiabilities TotalLiabilites ShareholderEquity TotalLiabilities&Equity TotalDebt(IncludeConvertibleBonds) 2.581,5 4.840,6 7.442,1 2.339,5 3.991,1 6.330,7 1.091,4 7.422,1 4.180,1
1H2012
Sales Destination
as of Dec 2010
Note: Average Selling Prices is based on FOB price before the government royalty
Europe (9%)
~ Power Generation
H1 2011
H1 2012
Sangatta Rainfall
(mm) (Rp)
300
Diesel prices have fallen significantly in-line with drop in oil prices
200
7,500 5,000
100
2,500
1/05
5/05
9/05
1/06
5/06
9/06
1/07
5/07
9/07
1/08
5/08
9/08
1/09
5/09
9/09
1/10
5/10
9/10
1/06
4/06
7/06
1/07
4/07
7/07
1/08
4/08
7/08
1/09
4/09
7/09
1/10
4/10
10/06
10/07
10/08
10/09
7/10
10/10
1/11
10
H1-12
Change
Equity interest in NI of associates Gain (Loss) on Derivative Asset Gain (loss) on forex - net Interest Income Interest expense & fin. charges Gain (loss) on sale of investments Amortization of expenses Others - net
Total
2.3
(508.5)
-21,819.5%
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30% max of net income subject to shareholder approval * Represent 30% Dividend in XO gain of $472 million from Tata transaction in June 2007 13
1.
Received the Best Asian Company in 8th Corporate Governance Asia Annual Recognition Awards 2012. The award was presented by Corporate Governance Asia Journal on Corporate Governance in Asia, Hong Kong, 20 June 2012 Received the 2nd Asian Excellence Recognition Awards 2012 for Best Investor Relations by an Indonesian company PT Bumi Resources Tbk. and Best Investor Relations Professional Mr Dileep Srivastava from Asian Excellence Awards and 9th Years of Corporate Governance Asia in Hong Kong, 30 March 2012 Received Indonesian Trusted Company 2011 Award by SWA Magazine based on investor and analyst survey of GCG practice in Indonesia, Jakarta, 19 December 2011 Received Corporate Governance Perception Index (CGPI) 2010 Award as Trusted Company based on assessment conducted by Indonesia Institute for Corporate Governance (IICG), Jakarta, 19 December 2011 Ranked of 8th in Coal & Consumable Fuels in Asia, 11th in Coal & Consumable Fuels globally, 64th in Overall Performance in Asia and 226th on overall global performance by 2011 Platts Top 250 Global Energy Company, Singapore, 2 November 2011 Ranked the Best Managed Company and Best Investor Relations, in Asias Best Companies 2011 by Finance Asia, July 2011
2.
3. 4. 5.
6.
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CSR Achievement
PT Bumi Resources Tbk received two awards in Asia's Best CSR Practices Awards in the Category of Best CSR Practice Overall and Developing Sustainable Strategies in the Award Ceremony Event at Park Royal Hotel, Singapore, 20 July 2012
PT Bumi Resources Tbk. - Gold Award for CSR Leadership Category by The Pinnacle Group International on 4th Annual Global CSR Summit in Shangri-La Hotel Boracay, Philippines, 19 April 2012
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Operational Area
Gallo
KPC
Bumi Mauritania
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Purpose: Sole and exclusive rights in connection with the exploration and exploitation of coal deposits in assigned concession areas in Kalimantan Marketing: May export the coal produced in the concession areas, but must give due consideration to domestic demand for coal within Indonesia Expiry date: 31 Dec 2021
Sangatta Mine
Coal type Contractors Bituminous & Sub-Bituminous KPC Thiess PAMA 2,447 2,702 2,219 564 638 Coal type Contractor
Bengalon Mine
Bituminous PT Darma Henwa
East Kalimantan
Certified resources (Mt) Measured Indicated Inferred Marketable reserves (Mt) Proven Probable
Certified resources (Mt) Measured Indicated Inferred Marketable reserves (Mt) Proven Probable 201 19 560 446 556
KPC operates the Sangatta and Bengalon mines; the Sangatta mine is the largest coal mine in Indonesia and one of largest in the world as measured by coal mined
(1) Calculated by dividing the production cash costs with coal mined for 2010.
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Purpose: Sole and exclusive rights in connection with the exploration and exploitation of coal deposits in assigned concession areas in Kalimantan Marketing: May export the coal produced in the concession areas, but must give due consideration to domestic demand for coal within Indonesia
Satui Mine
Coal type Bituminous Contractors Thiess Certified resources (Mt) Measured 150 Indicated 52 Inferred 44 Marketable reserves (Mt) Proven 64 Probable 8 Coal type Contractor Measured
Senakin Mine
Bituminous Thiess & Buma Certified resources (Mt) 87 111 215 Marketable reserves (Mt) Proven Probable 26 4
South Kalimantan
Indicated Inferred
(1) Calculated by dividing the production cash costs with coal barged for 2010. (2) Data based on Resources & Reserves Statement 2010
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Coal Quality
CV Moisture Sulfur Ash
Note: Above coal specification is as recieved basis
Historical Background
PT Pendopo Energi Batubara (PEB) established in 1995 and in 1997 entered the 3rd Gen Coal Contract of Work (CCoW) with the Government of Indonesia (GoI). Exploration activities were started in 1997. Feasibility Study was approved by GoI in 2006. PEB entered cooperation with DH Energy (DHE) for joint development of Pendopo coal utilization in 2007. JORC report was issued by Runge in 2008 and in 2009 operation/production permits were issued by GoI for 30 years. DHE acquired 15% stake in PEB in 2007 and in 2009 Bumi Resources acquired 85% stake in PEB.
Palembang Pendopo
PEB has large coal reserves comparable to major coal mine companies and is the lowest cost coal producer in Indonesia. Projects of conversion of lignite into clean energy are conducted with credible and reputed partners 20
in Japan
9 Glencore International Largest coal
marketing company
9 Markets and sells KPCs production
(~30% effective interest); mines Bengalon site at KPC and Asam Asam site at Arutmin
9 Mined 11% of total production in 2010 9 PT Cipta Kridatama (CK mining) mines
November 2011 (2.5% marketing commission compared to 5% earlier with BHP Billiton)
Diversified mining contractors and high quality marketing agents reduce counterparty risk
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High quality contracted customer base resulting in stable pricing and volume certainty
Top 10 customers of KPC
Taiwan Huaneng Power Power International Company Country Credit ratings China BB+ (Fitch) Taiwan N/A
Glencore Perusahaan Chubu Electric China Light & Electric Power International AG Enercorp Listrik Negara Power Power Development TNB Fuel Switzerland Indonesia Indonesia Japan China Japan Malaysia Baa2 (Moodys) N/A BBB- (S&P)
Dayou Taiwan
Ba1 (Moodys) Aa2 (Moodys) A2 (Moodys) A2 (Moodys) Baa1 (Moodys) N/A BB+ (S&P) AA (S&P) A- (S&P) AA (S&P) BBB+ (S&P) BBB- (Fitch) A+ (Fitch) BBB+ (Fitch)
China Qinfa Tohoku Electric Korea Southern Perusahaan Mahkotamas Group Power Power Listrik Negara Duta Makmur China N/A Japan N/A Korea A1 (Moodys) A (S&P) A+ (Fitch) Indonesia Indonesia Ba1 (Moodys) N/A BB+ (S&P) BBB- (Fitch)
Nippon Steel Nippon Corporation Paper Group Yuehe Japan Japan China N/A A1 N/A (Moodys) A- (S&P) BBB+ (Fitch)
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Location
Arutmin Indonesia
Senakin
Satui
Asam Asam 25
RECONTOURING
5 YEARS
3 YEARS
2 YEARS
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PT KPC also gave contribution in support of "One Billian Indonesian Trees " (OBIT) program initiated by the Government in accordance with Regulation of MInister of Forestry of the Republic of Indonesia No. P.21./Menhut-II/2010.
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Plant Nursery
Nursery
Fast-growing Plants: Acacia mangium, Albazia falcatarienthes dan Trambesi. Local plants: Kapuk (Ceiba petandra), Mahang (Macaranga hypoleuca), Kelampaian (Anthocephalus cadamba) dan Pulantan (Alstonia scholaris) dan Meranti (Shorea sp). Fruit trees: Kemiri (Aleuritus moluccana), Rambutan (Nephelium spp), Durian (Durio zibethinus), Cempedak (Artocarpus integer) dan Mangga (Mangifera spp).
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Prima Nirbhaya/NOSA Implementation 39 36 2.86 2.59 2.43 2.31 25 23 22 19 1.51 1.36 1.11 0.93 0.76 0.80 18 14 12 22 20 17 35 35 FPE & New Golden Rules Implementation 31
LTI LTIFR
25 20 15 10 5 0
2.00
1.50 9 1.00
0.00 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 YTD 26 Aug'12
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The planning and implementation of the development programs have been carried out by the collaboration between the local community, local government and KPC.
CSR Achievement
2011 Best Winner Indonesian Sustainability Reporting (ISRA) category Natural Resources (the Fifth times nominated)
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THANK YOU
Disclaimer: Forward-Looking Statements This communication contains forward-looking financial projections and estimates with respect to the future operations and performance of PT Bumi Resources Tbk and its affiliates. Investors and security holders are cautioned that forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the company. Such risks and uncertainties could cause actual results and developments to differ materially from those expressed in or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those estimated by the forward-looking statements include, but are not limited to, fuel prices and international coal demand and supply position. Neither PT Bumi Resources Tbk. or any other person assumes responsibility for the accuracy and completeness of the forward-looking statement in this communication. The forward-looking statements speak only as of the date of this communication. PT Bumi Resources Tbk is under no duty to update any of the forward-looking statements after this date to conform such statements to actual results or to reflect the occurrence of anticipated results or otherwise.
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