Coal Mining Business in Indonesia

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Global Coal Trends

by Sando Sasako

Jakarta, 24 August 2016 17:32:12

According to BP, global coal consumption slid by 1.83% from 3911.2 mtoe in 2014 to 3839.9 mtoe

(million tonnes of oil equivalent) in 2015. As other primary energy fuels rose, the coal share

dropped from 30.04% in 2014 to 23.85% in 2015. That is the bleak picture of coal industry future in

the near term.

However, with 59% of the share, global coal consumption is not and will not be easy to be replaced

as the ultimate primary energy, particularly for electricity generation; while electricity generated

from coal is 40%. The 2012 figures provided by the EIA won’t be changed much in any policies

scenario in 2040.

In the US, in 2014, as much as 91% of coal consumption was allocated to generate electricity; while

the electricity generated from coal was 42%. The energy loss from the coal-fired power plants has

been reduced pretty much, from 11.5% in 2002 to only 8.4% in 2014. That is some improvement

and efficiency enhancements.

How can coal be replaced anytime soon? Unless, some revolutionary fracking technology and UCG

used in underwater coalmines takes place. That includes the empowered use of CCS technology.

By country, it was China leading as the largest coal consumer in the world with 1920.4 mtoe or

equal to 50% of total coal consumption in the world in 2015. Three other largest coal consuming

countries, whose coal consumption was more than 100 mtoe, were India (10.6%), the US (10.3%),

and Japan (3.1%).

In the meantime, 6 other largest coal consuming countries, whose coal consumption ranging from

50 to 100 mtoe, were Russia (2.3%), South Africa (2.2%), South Korea (2.2%), Indonesia (2.1%),

Germany (2.0%), and Poland (1.3%). By region, Asia Pacific shared 72.9% of global coal

consumption, followed by Europe & Eurasia (12.2%) and North America (11.2%).

The shrinking coal demand from China had reduced its import size (by 87.5mt), leaving India as the

largest coal importer in 2015, although India’s coal import also declined by 15.8mt. On the export

side, Australia replaced Indonesia as the largest coal exporter as its export size increased by 17.3mt,

while Indonesia export volume decreased by 39.9mt.

The largest coal producing countries, whose production was more than 100 mtoe, were China

(47.7%), US (11.9%), India (7.4%), Australia (7.2%), Indonesia (6.3%), Russia (4.8%), and South

Africa (3.7%). By region, Asia Pacific shared 70.6% of global coal production totaled at 3830.1

mtoe, followed by North America (12.9%) and Europe & Eurasia (11.0%).

The largest coal proved reserves countries, whose reserved was more than 10 billion tonnes, were

US (26.6%), Russia (17.6%), China (12.8%), Australia (8.6%), India (6.8%), Germany (4.5%),

Ukraine (3.8%), Kazakhstan (3.8%), South Africa (3.4%), and Indonesia (3.1%). By region, Europe

& Eurasia shared (34.8%) of global coal reserves totaled at 891.5bt, followed by Asia Pacific

(32.3%) and North America (27.5%).

Serabdi Sakti

Jakarta, August 2016

Sando Sasako

Coal Mining Business

in Indonesia

Serabdi Sakti

Jakarta, August 2016

Sando Sasako

Coal Mining Business

in Indonesia

ii – Coal Mining Business in Indonesia

Perpustakaan Nasional RI: Data Katalog dalam Terbitan (KDT)

Sando Sasako.

Coal Mining Business in Indonesia / by Sando Sasako. Jakarta :

CV Serabdi Sakti, 2016.

xi + 139 pp. ; 21 cm

ISBN 978-602-73508-7-…

1. …. I. Judul.

Published by CV Serabdi Sakti

Graha Anggrek

Jl. Anggrek Rosliana VII No.63

Jakarta Barat 11480, Indonesia

Tel. +62 21 4027 8375 (Fren)

+62 851 0518 7118

Copyright © Sando Sasako

All rights reserved.

You may not reproduce the content of this book, in part

or in whole in any form with or without the written

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as you cite this reference as your ultimate one.

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Coal Mining Business in Indonesia – iii

Foreword

Coal deposits all around the world may have been declining. It’s on the surface, but not in deep

underground. Extracting coal physically beneath the earth, majorly under the deep seabed, is not an

easy task to fulfill and complete. Some advantages may have come for digging coal out of the

underwater. Coal washing doesnot need special water resources and treatment, but from the sea or

ocean. Every thing must have a plus and a minus. It depends on what perspectives you’ve taken all

along.

The choice then lend it to the tasks of extracting the coal ores, that is the molecular carbons in gas,

namely CO, CH4, and H2. Syngas, they used to call it as the term. But not the CO2. CO2 is mostly

considered as the public enemy number one to be captured and imprisoned in a dungeon, deep

underground, for good. Various CO2 absorbents have been sought and developed, along with the

technologies to filter out the impurities embedded with coal, namely SOx and NOx.

Many have mixed up inappropriately the understandingness between coal gasification and coal

combustion. Even FoE. Those two coal treatments are different things. The first is heating the coal,

while the second is burning the coal. Both process involves massive thermal chain reactions. The

problems with UCG is that how can you guarantee that it is the coal seam and the intended ones that

has been gasified.

How about the walls, the roofs, the floors, and the layers buffering the coal seams? How about if the

words of collapse and/or cracks applied to those layers? Won’t they initiate a flow of the

unexpected such as a mud flow for example as in Porong, Sidoarjo, East Java, Indonesia, that hasn’t

stopped since it began to erupt on 29 May 2006.

Even worse is how the earth is burning the coal seams underground. Burning Mountain of Mount

Wingen in New South Wales has been burning for 6000 years, Brennender Berg in German since

1688, Smoking Hill in NW Canada since its discovery in 1826, Emalahleni in South Africa since

1953, and Centralia in Pennsylvania since 27 May 1962.

The list doesnot include the burning of methane in Derweze, Turkmenistan since 1971, known as

door to hell; Baba Gurgur oilfield nearby Kirkuk, Irak for 2500 years, known as eternal fire; Yanar

Dag near Baku, Azerbaijan since 1950s, known as land of fire.

The unanswered questions to protect the environment underground and the surrounding area has left

many UCG projects to be terminated, cancelled, withdrawn, neglected, abandoned, forbidden. They

are all due to lack of environmental protection technologies, and most of all understandingness how

to deal and cope it before hand.

Therefore, UCG is not an option to exploit coal deposits underground. At least for now, and some

decades to come.

Jakarta, 31 August 2016

Sando Sasako

Email: sandosako @ yahoo.com

Mobile: +62 812 8056 516

Coal Mining Business in Indonesia – v

Contents

Foreword ....................................................................................................................................... iii

Contents .......................................................................................................................................... v

List of Tables .................................................................................................................................ix List of Figures ................................................................................................................................. x

Global Trends in Energy Industry .................................................................................................... 1 The Saudi Factor.......................................................................................................................... 1

The Revolutionary US Shale ........................................................................................................ 3

Global Coal Trends.......................................................................................................................... 5 Fracking Coalmines ..................................................................................................................... 6

Coal Gasification ......................................................................................................................... 7 Underground Coal Gasification .............................................................................................. 10

Kincardine UCG, Scotland, UK ............................................................................................. 11 Raven and Hat Creek Coalfield, BC, Canada ......................................................................... 14

Global Warming or Global Heating ........................................................................................... 16

Greenhouse Gas ..................................................................................................................... 18 CO2 as One of GHGs ............................................................................................................ 20

Oxygen Carriers ..................................................................................................................... 21 CO2 Recovery ....................................................................................................................... 23

Underwater Coalmines .............................................................................................................. 24

Hashima Coal Mine, Japan..................................................................................................... 25 Okinoyama Coal Mine, Japan ................................................................................................ 26

Beizao Coal Mine, China ....................................................................................................... 26 Bomlo Coal Mine, Norway .................................................................................................... 28

Cape Breton Coal Mines, Nova Scotia, Canada ...................................................................... 30 Solway Coal Mines, Cumbria, UK ......................................................................................... 34

North Sea Coal Mines, NE England ....................................................................................... 35 Forth Coal Mines, Scotland, UK ............................................................................................ 36

The End of Deep Coal Mines in the UK ................................................................................. 37

Energy Business in Indonesia in a brief ......................................................................................... 41

Coal-Bed Methane ..................................................................................................................... 43 The Milestone of CBM Commercialisation ............................................................................ 45

CBM Asia @ Kutai West PSC ............................................................................................... 46 Dart Energy & IGas ............................................................................................................... 48

Dart Energy & NuEnergy....................................................................................................... 49

Coal ........................................................................................................................................... 57

History of Coal Business in Indonesia .................................................................................... 62

Regulatory Frameworks ......................................................................................................... 65 The Dutch Colonialism ...................................................................................................... 65

The Mining Law of 1967 ................................................................................................... 65 The Production Sharing Contract in Coal Mining of 1975 .................................................. 67

The Coal Contract of Work of 1981 ................................................................................... 67 Forced Localisation ............................................................................................................ 68

vi – Coal Mining Business in Indonesia

Issues on Enviromental and Decentralisation ......................................................................... 70

Ministerial Regulations (Permen ESDM) ........................................................................... 71 Ministerial Decrees (Kepmen ESDM) ................................................................................ 73

Clean and Clear: The Causes .................................................................................................. 76

The Non-CNC Status ......................................................................................................... 78 Unclear DMO System ........................................................................................................ 81

Forestry Land Use Permit................................................................................................... 85 Korsup Minerba ................................................................................................................. 86

CCoW Companies: The First Generations .............................................................................. 89

BHP Kendilo Coal Indonesia ............................................................................................. 94 BHP Businesses in Indonesia ............................................................................................. 96

Rio Tinto............................................................................................................................ 96 Tata Power ......................................................................................................................... 97

Arutmin Indonesia ............................................................................................................. 99 Kaltim Prima Coal ............................................................................................................. 99

Bumi Resources ............................................................................................................... 101 The IndoCoal Deals...................................................................................................... 101

Asmin Koalindo Tuhup .................................................................................................... 103 Allied Indo Coal............................................................................................................... 104

References ................................................................................................................................... 107

Directory of Coal Mining Companies in Indonesia ...................................................................... 111

Abadi Batubara Cemerlang .................................................................................................. 111 Abadi Coal Cemerlang ......................................................................................................... 111

Aceh Resources and Mineral ................................................................................................ 111 Aceh Resources and Mineral Core ....................................................................................... 111

Adaro Indonesia ................................................................................................................... 111 Adimas Baturaja Cemerlang ................................................................................................ 111

Allied Indo Coal , PT ........................................................................................................... 112 Andhika Mutiara Etam ......................................................................................................... 112

Andhika Mutiara Lestari ...................................................................................................... 112 Andhika Mutiara Sejahtera ................................................................................................... 112

Antang Gunung Meratus ...................................................................................................... 112 Anugerah Jatimulia .............................................................................................................. 113

Anugerah Jatimulya ............................................................................................................. 113 Arutmin Indonesia ............................................................................................................... 113

Asmin Bara Bronang............................................................................................................ 113 Asmin Bara Jaan .................................................................................................................. 113

Asmin Koalindo Tuhup ........................................................................................................ 113 Astaka Dodol ....................................................................................................................... 114

Bahari Cakrawala Sebuku .................................................................................................... 114 Bangun Banua Persada Kalimantan ...................................................................................... 114

Bara Mutiara Prima .............................................................................................................. 114 Bara Pramulya Abadi ........................................................................................................... 115

Bara Sentosa Lestari ............................................................................................................ 115 Bara Utama Unggul ............................................................................................................. 115

Baradinamika Mudasukses ................................................................................................... 115 Baramarta, PD ..................................................................................................................... 115

Baramarta ............................................................................................................................ 115

Coal Mining Business in Indonesia – vii

Baramulti Sukses Sarana ...................................................................................................... 116

Baramulti Suksessartana ...................................................................................................... 116 Baramutiara Prima ............................................................................................................... 116

Barasentosa Lestari .............................................................................................................. 116 Batu Alam Selaras ............................................................................................................... 116

Batubara Duaribu Abadi, PT ................................................................................................ 116 Batubara Selaras Sapta, PT .................................................................................................. 116

Baturona Adimulya .............................................................................................................. 117 Benakat Energi .................................................................................................................... 117

Benakat Energy ................................................................................................................... 117 Bentala Coal Mining ............................................................................................................ 117

Berau Coal ........................................................................................................................... 117 Bharinto Ekatama ................................................................................................................ 117

Bima Duta Batubara Sakti .................................................................................................... 118 Borneo Bhaktibara Utama .................................................................................................... 118

Borneo Indobara .................................................................................................................. 118 Buana Bara Utama ............................................................................................................... 118

Bukit Baiduri Enterprises ..................................................................................................... 118 Bukit Sunur ......................................................................................................................... 119

Bumi Laksana Perkasa ......................................................................................................... 119 Bumi Panen Sukses .............................................................................................................. 119

Bumi Sukse Mandiri ............................................................................................................ 119 Buntok Perdana Coal Mining ............................................................................................... 119

Calicari ................................................................................................................................ 119 Coal Duaribu Abadi ............................................................................................................. 119

Coal Selaras Sapta ............................................................................................................... 120 Danau Mas Hitam ................................................................................................................ 120

Daya Lapan ......................................................................................................................... 120 Delma Mining Corporation .................................................................................................. 120

Dhamar Tejokencono ........................................................................................................... 120 Dharma Puspita Mining ....................................................................................................... 120

Dutaputra Tanaratama .......................................................................................................... 121 Ekasatya Yanatama .............................................................................................................. 121

Energi Batubara Sumatera .................................................................................................... 121 Energy Batubara Sumatra .................................................................................................... 121

Fajar Bumi Sakti .................................................................................................................. 121 Firman Ketaun Perkasa ........................................................................................................ 121

Galicari ................................................................................................................................ 121 General Sakti Kreasindo ...................................................................................................... 122

Generalindo Prima Coal ....................................................................................................... 122 Gunung Bayan Pratama ....................................................................................................... 122

Gunung Bayan Pratama Coal ............................................................................................... 122 Hulubalang Inti Bumi .......................................................................................................... 122

Indexim Coalindo ................................................................................................................ 122 Indominco Mandiri .............................................................................................................. 123

Insani Bara Perkasa .............................................................................................................. 123 Interex Sacra Raya ............................................................................................................... 123

Intitirta Prima Sakti .............................................................................................................. 123 Intitirta Primasakti ............................................................................................................... 124

Jorong Barutama Greston ..................................................................................................... 124 Juloi Coal ............................................................................................................................ 124

Kadya Caraka Mulia ............................................................................................................ 124

viii – Coal Mining Business in Indonesia

Kalimantan Energi Lestari ................................................................................................... 124

Kalteng Coal ........................................................................................................................ 125 Kaltim Prima Coal ............................................................................................................... 125

Kartika Selabumi Mining ..................................................................................................... 125 Karunia Poladaya Bumi ....................................................................................................... 125

Karya Bumi Baratama .......................................................................................................... 125 Kendilo Coal Indonesia ........................................................................................................ 126

BHP Kendilo Coal Indonesia ............................................................................................... 126 Kideco Jaya Agung .............................................................................................................. 126

Kitadin ................................................................................................................................. 126 Kodeco Horna Mandiri ........................................................................................................ 126

Kurnia Sarana Lestari .......................................................................................................... 126 Kutai Kertanegara Prima Coal.............................................................................................. 126

Lahai Coal ........................................................................................................................... 127 Lanna Harita Indonesia ........................................................................................................ 127

Lianganggang Cemerlang .................................................................................................... 127 Mahakam Sumber Jaya ........................................................................................................ 127

Mandiri Intiperkasa .............................................................................................................. 127 Mantimin Coal Mining......................................................................................................... 128

Marunda Graha Mineral ....................................................................................................... 128 Marunda Grahamineral ........................................................................................................ 128

Maruwai Coal ...................................................................................................................... 128 Maruai Coal ......................................................................................................................... 128

Meulaboh Energitama .......................................................................................................... 128 Meullaboho Energitama ....................................................................................................... 129

Mitrajaya Timuragung ......................................................................................................... 129 Multi Harapan Utama .......................................................................................................... 129

Multi Tambangjaya Utama ................................................................................................... 129 Nusa Minera Utama ............................................................................................................. 129

Nusantara Termal Coal (D/A Nusantara Thai Coal) ............................................................. 130 Nusantara Thai Coal ............................................................................................................ 130

Pari Coal .............................................................................................................................. 130 Pendopo Energi Coal ........................................................................................................... 130

Pendopo Energy Batubara .................................................................................................... 130 Perkasa Inakakerta ............................................................................................................... 130

Persada Permata Mulya ........................................................................................................ 131 Persada Permata Mulia......................................................................................................... 131

Pesona Khatulistiwa Nusantara ............................................................................................ 131 Pinang Jaya Sarana Bara ...................................................................................................... 131

Pinangjaya Sarana Bara ....................................................................................................... 131 Ramdany Coal Mining ......................................................................................................... 131

Ratah Coal ........................................................................................................................... 131 Restubara Karya Pratama ..................................................................................................... 132

Riau Bara Harum ................................................................................................................. 132 Salamindo Coalindo ............................................................................................................. 132

Salamindo Pahala................................................................................................................. 132 Santan Coal.......................................................................................................................... 132

Santan Batubara ................................................................................................................... 132 Sarwa Sembada Karya Bumi ................................................................................................ 132

Selatan Selabara ................................................................................................................... 133 Selo Argodedali ................................................................................................................... 133

Selo Argokencono Sakti ....................................................................................................... 133

Coal Mining Business in Indonesia – ix

Senamas Energindo Mulya................................................................................................... 133

Senamas Energindo Mulia ................................................................................................... 133 Sinar Benua Prima ............................................................................................................... 134

Sinarindo Barakarya ............................................................................................................ 134 Singlurus Pratama ................................................................................................................ 134

Solok Bara Adipratama ........................................................................................................ 134 Sumber Barito Coal ............................................................................................................. 134

Sumber Kurnia Buana .......................................................................................................... 135 Suprabari Mapanindo Mineral .............................................................................................. 135

Tambang Damai .................................................................................................................. 135 Tanito Harum ...................................................................................................................... 135

Tanjung Alam Jaya .............................................................................................................. 136 Tanjung Alam Raya ............................................................................................................. 136

Taraco Mining ..................................................................................................................... 136 Teguh Persada Coal ............................................................................................................. 136

Teguh Reksa Daya ............................................................................................................... 136 Teguh Sinar Abadi ............................................................................................................... 136

Tempayang Cemerlang ........................................................................................................ 137 Timah Batubara Utama ........................................................................................................ 137

Torah Antareja Mining ........................................................................................................ 137 Trimarta Coal Perkasa.......................................................................................................... 137

Trimata Buana ..................................................................................................................... 137 Trimata Benua ..................................................................................................................... 137

Trimata Coal Perkasa ........................................................................................................... 138 Trubaindo Coal Mining ........................................................................................................ 138

Wadung Mas Tambang Mulia .............................................................................................. 138 Wadungmas Tambang Mulia ............................................................................................... 138

Wahana Baratama Mining .................................................................................................... 138 Whirakaneo Coalindo .......................................................................................................... 138

Whiratama Bina Perkasa ...................................................................................................... 138 Yamabhumi Palaka .............................................................................................................. 139

List of Tables

Table 1 – Coal In-Place Resources for Upper Limestone Fm + Limestone Coal Fm,

Kincardine, Nov.2014 ............................................................................................. 12 Table 2 – Coal In-Place Resources for Upper Limestone Fm, Kincardine, Nov.2014 ..................... 12

Table 3 – Coal In-Place Resources for Limestone Coal Fm, Kincardine, Nov.2014 ....................... 12 Table 4 – Coal In-Place Resources, Kincardine, Nov.2014 ............................................................ 13

Table 5 – Estimates of trace chemicals abundance in the global atmosphere, 1980. ........................ 20 Table 6 – Overview of existing chemical-looping combustors ....................................................... 23

Table 7 – Some undersea coalmines in Solway Firth, Cumbria, UK ............................................... 34 Table 8 – CBM Resources in Indonesia ......................................................................................... 43

Table 9 – The 20 largest shareholders of Dart Energy Limited, 20100914 ..................................... 48 Table 10 – Some subsidiaries of IGas which were held through subsidiaries, 30 June 2015 ........... 49

Table 11 – Coal reserves in Indonesia, 2014 .................................................................................. 58 Table 12 – Coal supply in Indonesia, 2000-2014............................................................................ 59

Table 13 – Existing coal terminals in Indonesia ............................................................................. 60 Table 14 – Coal mining companies in Indonesia by permits, March 2015 ...................................... 62

Table 15 – CNC status of IUP by announcements, 20110630-20160104 ........................................ 77 Table 16 – Problems of Non-CNC IUPs by category and regions, 20140203 ................................. 78

x – Coal Mining Business in Indonesia

Table 17 – Clean and Clear IUPs by province, 2014 – April 2016 .................................................. 80

Table 18 – Coal Domestic Market Obligations in Indonesia, 2010-2015 ........................................ 81 Table 19 – Coal Domestic Market Obligations in Indonesia, by CCoW and KP/IUP

companies, 20100419-20150427 (mt) ..................................................................... 83 Table 20 – Overlay of IUP, COW, and PKP2B with Forest Area Map and IPPKH......................... 85

Table 21 – IUP within conservation forests in 12 provinces, 2014-2015 ........................................ 85 Table 22 – The First Generation CCoW Companies: The dates, area, and resources/reserves ......... 89

Table 23 – The second generation of CCoW Companies: 17 of 19 ................................................. 89 Table 24 – Coal produced from Kalimantan, 1997-2000 (1000 ton) ............................................... 90

Table 25 – The third generation of CCoW Companies: 106 of 114 ................................................ 91 Table 26 – Coal production from CCoW companies, 2005-2012 (1,000 ton) ................................. 93

Table 27 – Financial profile of 3 direct subsidiaries of Tata Power on coal business in

Indonesia, 2015q1 (₹ crore)..................................................................................... 97

Table 28 – Subsidiaries of Tata Power related with coal mining business in Indonesia, 2015q1

(₹ crore) .................................................................................................................. 97

Table 29 – Tata Power companies in Indonesia, 2015 .................................................................... 98

List of Figures

Figure 1 – Potential future global oil projects by average breakeven prices ......................................3 Figure 2 – Various technologies implemented during power generation process ..............................7

Figure 3 – Some chemical reactions in converting syngas ................................................................8 Figure 4 – Some routes of coal to chemicals from methane via syngas .............................................8

Figure 5 – Coal cycle and its derived products schematics, from liquid (CTL), to gas (CTG),

and chemicals (CTC) ................................................................................................9

Figure 6 – Potential UCG in the UK, 2004 ..................................................................................... 10 Figure 7 – Kincardine UGC project area of interest, 20141105 ...................................................... 12

Figure 8 – Kincardine UCG licenses in the Firth of Forth, 20150402. ............................................ 13 Figure 9 – Kincardine area of interest in Midland Valley of Scotland, 20141105 ........................... 14

Figure 10 – Coalmines in British Columbia, Canada ...................................................................... 15 Figure 11 – Selected significant climate anomalies and events, July 2016 ...................................... 16

Figure 12 – Earth's Annual Global Mean Energy Budget, July 1987 – Dec. 1988.......................... 17 Figure 13 – Earth’s Global Energy Budget, March 2000 – March 2004 ......................................... 17

Figure 14 – Monthly mean atmospheric carbon dioxide at Mauna Loa Observatory, Hawaii,

March 1958 – July 2016 (ppm) ............................................................................... 21

Figure 15 – Oxygen transport capability of different MeO/Me systems. ......................................... 22 Figure 16 – The effective aquifuge in Beizao Coalmine ................................................................. 27

Figure 17 – TBU Underwater coal mining in The Baltic Union ...................................................... 28 Figure 18 – TBU Coal Island ......................................................................................................... 29

Figure 19 – TBU Sandisle structure ............................................................................................... 29 Figure 20 – Coal mines in Nova Scotia, Canada............................................................................. 31

Figure 21 – Donkin coal resource block ......................................................................................... 31 Figure 22 – Solway Firth, Irish Sea, UK ........................................................................................ 34

Figure 23 – The map of Tynemouth-Boldon-Sunderland, NE England ........................................... 36 Figure 24 – Deep coal mining closures in the UK, 2010-2015 ........................................................ 38

Figure 25 – Deep coal mining closures in the UK, 1960-1969 ........................................................ 38 Figure 26 – Onshore coal distribution in the UK by depth, 2014 .................................................... 39

Figure 27 – CBM Basins in Indonesia ............................................................................................ 43 Figure 28 – Coal bed methane (CBM) resources in Indonesia, 2010 .............................................. 44

Figure 29 – CBM PSC terms in Indonesia...................................................................................... 44 Figure 30 – Some CBM PSCs in East Kalimantan ......................................................................... 47

Coal Mining Business in Indonesia – xi

Figure 31 – CBM basin in South Sumatera, Nov. 2011 .................................................................. 50

Figure 32 – Tanjung Enim CBM PSC ............................................................................................ 51 Figure 33 – Muralim CBM PSC .................................................................................................... 52

Figure 34 – Sangatta West CBM PSC ............................................................................................ 54 Figure 35 – The CBM PSCs of NuEnergy in Sumatera .................................................................. 55

Figure 36 – Gasification-based system concepts ............................................................................ 57 Figure 37 – Gasification chemistry ................................................................................................ 57

Figure 38 – Coal distribution in Indonesia by calory class, 2014 .................................................... 58 Figure 39 – Supply and export of Indonesian coal, 1997-2014 ....................................................... 59

Figure 40 – Export share over coal production in top producing countries ..................................... 59 Figure 41 – Coal seaports in Indonesia, 2015 ................................................................................. 61

Figure 42 – UK banks involvement in Indonesian coal companies ................................................. 62 Figure 43 – Mining permits in Indonesia, 20140203 ...................................................................... 63

Figure 44 – Mining problems in Indonesia, 20140203 ................................................................... 76 Figure 45 – JORC's general relationship between exploration results, mineral resources, and

ore reserves ............................................................................................................. 76 Figure 46 – Problems of Non-Clean & Clear Status of IUPs classified and mapped ....................... 79

Figure 47 – Adding value to the coal by implementing clean coal technology ................................ 81 Figure 48 – Coal DMO mechanism in Indonesia ............................................................................ 82

Figure 49 – Monitoring and reporting system on the implementation of coal DMO mechanism

in Indonesia ............................................................................................................ 83

Figure 50 – Clean & Clear Status of IUPs, May 2011 – April 2016................................................ 86 Figure 51 – The mechanics of $600m structure finance (fixed rate note) of IndoCoal in 2005 ...... 102

Figure 52 – The mechanics of unrated $900m structured export notes (FRN) of IndoCoal in

2006 ..................................................................................................................... 102