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December 6, 2019

PT Cipta Kridatama Obtains Life of Mine Contract at the End of 2019

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Jakarta, December 6, 2019 - PT Cipta Kridatama (CK), a subsidiary of PT ABM Investama Tbk (IDX: ABMM), showed positive performance by getting its latest contract in the 4th quarter of 2019. The mining contract between CK and PT Binuang Mitra Bersama Blok Dua (BMB) agreed on
December 5, 2019 with worth more than 8 trillion rupiah. The contract was signed by CK President Director Feriwan Sinatra with BMB President Director Yayan Herdiansyah in Jakarta.

According to Feriwan Sinatra, Director of CK, in 2019 CK obtains several new mining contracts, and will get another again soon. "Alhamdulillah, CK's performance always improves with operational excellence, so it gets a positive appreciation from all partners. This certainly a motivation for CK to continue and maintain its performance. The latest agreement between CK and BMB which has a Life of Mine is clear evidence that CK is growing with its business partners", explained Feriwan Sinatra.

The BMB mining location is located at Kecamatan Bungur and Kecamatan Salam Babaris – Kabupaten Tapin South Kalimantan. In its contract, CK will assist for material removal (overburden removal) and heavy equipment rental at the BMB location. The average production of CK overburden removal is targeted to reach 30 million BCM (Bank Cubic Meter) every year so the average production of BMB coal can reach the target of 7.9 million tons. With the Life of Mine contract, CK has potential to produce 286 million BCM in BMB.