Adaro Energy’s Quarterly Activities Report for the second quarter of 2013 is released today. We regularly issue the quarterly activities report one month after the end of each quarter. The report focuses on our operations, business development, exploration and other activities.
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Adaro Energy Releases 1Q13 Activities Report
Jakarta, April 30, 2013 – Adaro Energy’s Quarterly Activities Report for the second quarter of 2013 is released today. We regularly issue the quarterly activities report one month after the end of each quarter. The report focuses on our operations, business development, exploration and other activities.
To read the full activity report, please download it as a PDF here.
Highlights of the quarter:
- Demand for low heat value coal started to pick up in 1Q13 supported by increased demand from China and India. Sales of our E4000 coal to the export market were 16% higher y-o-y.
- Adaro’s Corporate Social Responsibility programs gained recognition at two prestigious CSR events, the Indonesia MDG Award and Global CSR Summit Award.
- Our mine-mouth power plant completed a commissioning test for its first unit and was able to reach 100% load capacity of 30MW. Commissioning of the second unit is expected in June 2013.
- Construction of our OPCC (out of pit overburden crusher and conveyor) system continued to progress. At the end of 1Q13, the project was 99% complete. We look forward to start commissioning the OPCC in May 2013.
- As part of our strategy to increase reserves and diversify asset, locations and licenses, we acquired 75% of the Balangan coal project for an enterprise value of US$30.4 million. Balangan has estimated JORC compliant coal resources of 172 million tonnes and is strategically located 11 km southeast of Adaro Indonesia.
- Mr Julius Aslan was appointed as Human Resources, General Affair & Information Technology Director of Adaro Energy.
- Our Annual General Meeting of Shareholders agreed to distribute a cash dividend of US$117.07 million for FY2012, a 30.38% pay-out ratio. Adaro Energy aims to pay a cash dividend every year.
General Media:
For further information, please contact:
Devindra Ratzarwin
Corporate Secretary
Tel: (6221) 521 1265
Fax: (6221) 5794 4685
Email: corsec@ptadaro.com
Financial Media:
For further information, please contact:
Mr. Cameron Tough
Head of Investor Relations
Tel: (6221) 521 1265
Fax: (6221) 5794 4685
Email: cameron.tough@ptadaro.com