Bumi Resources announces new coal discovery in Pedayak mine in KPC concession

PT Bumi Resources Tbk is pleased to announce that its Mine Planning team has completed a high level first pass analysis of the potential additional reserves of KPC.

An additional 442 million tons of coal reserves have been discovered in the Pedayak region in KPC area alone. The mega sized pit designed is 2400 hectares corresponding to 4 km x 6 km in area and 300 meters in depth and is based on the KPC standard of what is classified as Marketable reserves using JORC methodology.

In addition, there is strong evidence of ‘significant’ additional increases in marketing reserve potential from three other mining sites in KPC, with Melawan taking out the entire ‘bowl’ structure through the Runtu syncline.

A higher coal price assumption of $ 75.56/ ton has been applied but this is still very conservative, but is higher than the previous price of $ 53.92/ ton applied in our 1 Oct ’07 coal reserve upgrade announced on 8 April 2008.

Bumi had declared marketable coal reserves of 1,402,000 ktons as of 1 October 2007. This is now expected to increased by 31.5% by 442,000 ktons to a minimum of 1,844,000 ktons by August 2008 when Bumi plans to declare its new augmented marketable coal reserves as of 30 June 2008 – This final figure is likely to be substantially higher than the figure of 1.84 billion tons presently indicated. (end of release)

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