BYAN - PT. Bayan Resources Tbk

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JAKARTA – PT Bayan Resources Tbk (BYAN) claims that the coal reserves in its concession had reportedly risen to 2.03 million tons in April 2022 from the initial 1.74 million tons in January 2021. Likewise, its coal resources also increased from 3.61 million tons to 4.08 million tons.

Jenny Quantero, Director of Bayan Resources, revealed that this increase in coal reserves is spotted by PT Runge Pincock Minarco (RPM) during its Tabang and Pakar Utara project in East Kalimantan. “The coal reserves proliferated 18% from 1.475 million tons on January 1, 2021, to 1.692 million tons on April 1, 2022,” she confirmed in the information disclosure quoted today (30/9).

The report of open-cut coal mine reserves was written by RPM for its Tabang Project (alongside PT Fajar Sakti Prima and PT Bara Tabang) and Pakar Utara Project (alongside PT Dermaga Energi, PT Tanur Jaya, and PT Tiwa Abadi).

According to Quantero, this increase includes the 38 million tons of mined coals from said projects.

In addition to that, the coal resources of said projects also shifted 13% higher to 2.766 million tons on April 1, 2022, from the initial 2.491 million on January 1, 2021. “There is additional drilling in the concession of Tabang and Pakar Utara projects,” Quantero stated.

Furthermore, BYAN reportedly renewed the coal reserves and resource of JORC (Joint Ore Reserves Committee) on April 1, 2022, for PT Wahana Bratama Mining, PT Teguh Sinarabadi, PT Firman Ketaun Perkasa, PT Perkasa Inakakerta, PT Brian Anjat Sentosa, PT Sumber Api, PT Cahaya Alam, and PT Bara Sejati.

“The increases in coal reserves and resources will extend the longevity of the mines and enhance the company’s value,” Quantero concluded. (LK/ZH)