pt mining indonesia v6 (revised2) - pwc · pt mining indonesia tbk dan entitas anak/ pt mining...

PT Mining Indonesia Tbk dan entitas anak/PT Mining Indonesia Tbk and subsidiaries

Ilustrasi laporan keuangan konsolidasian /Illustrative consolidated financial statements

www.pwc.com/id

31 Desember 2013 dan 2012/31 December 2013 and 2012

PwC Indonesia | 1

Introduction

ScopeThis publication provides sample consolidated financial statements of a fictitious group of companies, PT Mining IndonesiaTbk and its subsidiaries, for the financial year ended 31 December 2013. PT Mining Indonesia Tbk is a companyincorporated in Indonesia and its shares are listed on the Indonesian Stock Exchange.

The names of people and entities included in this publication are fictitious. Any resemblance to a person or entity is purelycoincidental.

Effective dateThese illustrative consolidated financial statements include sample disclosures under the requirements of the IndonesianFinancial Accounting Standards (“IFAS”) (including its Interpretations) and the Financial Services Authority (“OJK”) thatare effective for financial years commencing on or after 1 January 2013.

Illustrative in naturePT Mining Indonesia Tbk is a mining company whose activities include exploration, development and production of miningcommodities. This publication illustrates IFAS and OJK’s disclosures specific to entities in the mining sector. Thereforesome common transactions and related disclosures have been excluded from this publication. Readers may refer to otherPwC publications for an understanding of presentation and disclosure requirements that are not specific to the miningindustry.

The sample disclosures in these illustrative consolidated financial statements should not be considered to be the onlyacceptable form of presentation. The form and content of each reporting entity’s consolidated financial statements are theresponsibility of the entity’s directors/management and other forms of presentation which are equally acceptable may bepreferred and adopted provided that they include the specific disclosures prescribed in IFAS and OJK regulations.

The illustrative consolidated financial statements are not substitutes for reading the legislation or standards themselves, orfor professional judgement as to the fairness of presentation. They do not cover all possible disclosures required by the IFASand OJK. Depending on the circumstances, further specific information may be required in order to ensure fair presentationand compliance with the laws, accounting standards and stock exchange regulations in Indonesia.

While every effort has been made to ensure accuracy, this publication is not comprehensive and information that may berelevant to a particular user may have been omitted. As these are only illustrative consolidated financial statements, thispublication does not cover every possible case but only the most common cases that may arise.

No responsibility for loss to any person acting or refraining from acting as a result of any material in this publication can beaccepted by KAP Tanudiredja, Wibisana & Rekan (“PwC” or “we”). Recipients should not act on the basis of this publicationwithout seeking professional advice.

No part of this publication may be reproduced by any method without the prior consent of KAP Tanudiredja, Wibisana &Rekan.

Guidance notesDirect references to the source of disclosure requirements are included in the reference column on each page of theillustrative consolidated financial statements. Guidance notes are provided where additional matters may need to beconsidered in relation to a particular disclosure. These notes are inserted within the relevant section or note.

Seek professional adviceThe information in this publication does not constitute professional advice. If professional advice is required, the services ofa competent professional should be sought. Neither PwC nor any employee of the firm shall be liable for any damage or lossof any kind, on any grounds whatsoever, suffered as a result of any use of, or reliance on, this publication.

PwC Indonesia | 2

ForewordThe Indonesian Accounting Standards Board issued several Interpretations to the Financial Accounting Standards in 2013 tobe consistent with International Financial Reporting Standards. Although the newly issued interpretations and severalapplicable standards effective from this year are not as numerous in number as in recent years, reporting entities continue toface the need to understand and apply new standards and regulations in preparing a set of financial statements. This isparticularly the case with the application of the Decree of the Chairman of Bapepam-LK No. KEP-347/BL/2012 dated 25June 2012, effective for financial statements for the year ended 31 December 2012, regarding the presentation anddisclosure of financial statements of issuers or Public Companies. These policies have been consistently applied to all of theyears presented, unless otherwise stated.

Looking at the current industry dynamics, we see the opportunity to contribute to the industry by issuing our firstillustrative financial statements for the general mining industry in Indonesia. These illustrative consolidated financialstatements are based on a fictitious company in Indonesia. It illustrates the major elements of the consolidated financialstatements and all required disclosures in accordance with the applicable financial accounting standards for publicly listedentities in Indonesia.

Since these illustrative consolidated financial statements are specific to the mining industry, they may not cover allstandards or interpretations issued by the Indonesian Accounting Standards Board. We continue to issue an illustrative setof financial statements for general entities which you can refer to for matters not specifically related to mining entities.

We hope that you will find this publication a useful guide to the preparation of your financial statements. We also encourageyou to consult your usual PwC contact should you have any questions or comments regarding this publication or theimplementation of the new accounting standards.

KAP Tanudiredja, Wibisana & Rekan(PwC)

31 January 2014

PwC Indonesia | 3

PT Mining Indonesia Tbk and its subsidiaries

Contents of Illustrative Consolidated Financial Statements 2013

Pages

Board of Directors’ Statement 5CONSOLIDATED FINANCIAL STATEMENTSStatutory Report And Consolidated Financial Statements

Consolidated Statements of Financial Position 1/1Consolidated Statements of Comprehensive Income 2/1Consolidated Statements of Changes in Equity 3/1Consolidated Statements of Cash Flows 4/1

Notes to The Consolidated Financial Statements:1. General information 5/12. Summary of significant accounting policies: 5/4

2.1. Basis of preparation of the consolidated financial statements 5/42.2. Consolidation 5/72.3. Foreign currency translation 5/122.4. Financial assets 5/132.5. Impairment of financial assets 5/182.6. Cash and cash equivalents 5/202.7. Trade and non-trade receivables 5/212.8. Inventories 5/212.9. Property, plant and equipment 5/222.10. Leases 5/242.11. Exploration and evaluation assets 5/252.12. Mining properties 5/272.13. Stripping costs 5/292.14. Intangible assets 5/302.15. Impairment of non-financial assets 5/312.16. Trade payables 5/322.17. Provisions 5/322.18. Borrowings 5/362.19. Borrowing costs 5/362.20. Compound financial instruments 5/372.21. Share capital 5/372.22. Employee benefits 5/382.23. Current and deferred income taxes 5/402.24. Revenue based tax 5/422.25. Value added tax (“VAT”) 5/422.26. Revenue and expenses recognition 5/432.27. Dividend distribution 5/462.28. Earnings per share 5/462.29. Segment reporting 5/46

3. Critical accounting estimates and judgements 5/474. Business combinations 5/555. Cash and cash equivalents 5/576. Trade receivables 5/587. Prepaid expenses 5/598. Inventories 5/609. Investments in associates 5/6010. Available-for-sale financial assets 5/6111. Deferred stripping costs 5/6212. Exploration and evaluation assets 5/6213. Mining properties 5/6314. Property, plant and equipment 5/6415. Intangible assets 5/6616. Trade payables 5/6817. Accrued expenses 5/6918. Exploitation fees payable 5/6919. Borrowings 5/6920. Taxation 5/74

PwC Indonesia | 4

PT Mining Indonesia Tbk and its subsidiaries

Index to Illustrative Consolidated Financial Statements 2013(continued)

Pages

Notes to The Consolidated Financial Statements (continued):

21. Post-employment benefit obligations 5/7822. Provision for mine reclamation and closure 5/7923. Share capital 5/7924. Additional paid-in capital 5/8025. Retained earnings and other reserves 5/8026. Non-controlling interests 5/8127. Non-cash transactions 5/8128. Earnings per share 5/8229. Revenue 5/8330. Cost of revenue 5/8331. Operating expenses 5/8432. Finance costs and income 5/8533. Other expenses, net 5/8534. Related party transactions 5/8535. Segment information 5/8936. Significant agreements, commitments and contingencies 5/9137. Reclamation guarantee 5/9738. Net monetary assets or liabilities denominated in foreign currencies 5/9839. Financial assets and liabilities 5/9940. Financial risk management 5/10041. Authorisation of financial statements 5/113

Additional Illustrative DisclosuresAppendix 1: Implementation of ISFAS 29 Stripping Costs in the

Production Phase of a Surface Mine

Abbreviations:IFAS = Indonesian Financial Accounting StandardsSFAS = Statements of Financial Accounting StandardsISFAS = Interpretation of Statements of Financial Accounting Standards

SFAS 1p52 = SFAS [number] paragraph [number]SFAS 55 PA 99 = SFAS [number] Application Guidance paragraph [number]BR-18.r8 = Bapepam-LK Regulation [page number] [row number]OJK = Otoritas Jasa Keuangan (Financial Services Authority)Bapepam-LK = Badan Pengawas Pasar Modal dan Lembaga Keuangan

(Capital Market and Financial Institution Supervisory Board)(Bapepam-LK was merged as part of OJK effective from 1 January 2013)

PwC Indonesia | 5

PT MINING INDONESIA Tbk DAN ENTITAS ANAK

SURAT PERNYATAAN DIREKSI TENTANG TANGGUNGJAWAB ATAS LAPORAN KEUANGAN KONSOLIDASIAN

PADA TANGGAL DAN UNTUK TAHUN-TAHUN YANGBERAKHIR PADA 31 DESEMBER 2013 DAN 2012

PT MINING INDONESIA Tbk AND SUBSIDIARIES

BOARD OF DIRECTORS’ STATEMENT REGARDING THERESPONSIBILITY FOR THE CONSOLIDATED FINANCIAL

STATEMENTS AS AT AND FOR THE YEARSENDED 31 DECEMBER 2013 AND 2012

Kami, yang bertanda tangan di bawah ini: We, the undersigned:

1. Nama : Adhi WijayaAlamat kantor : Menara Jakarta, Lt. 28

Distrik Bisnis Utama SudirmanBlok X-7, Kav. 3-4Jakarta Selatan

Alamat domisili : Jl. Blewah E2/120Pondok Indah,Jakarta Selatan

Telepon : +62 21 520 2020Jabatan : Presiden Direktur

1. Name : Adhi WijayaOffice address : Menara Jakarta, Lt. 28

Sudirman Central BusinessDistrictBlock X-7, Kav. 3-4South Jakarta

Residential address : Jl. Blewah E2/120Pondok Indah,South Jakarta

Telephone : +62 21 520 2020Title : President Director

2. Nama : Dudi HermawanAlamat kantor : Menara Jakarta, Lt. 28

Distrik Bisnis Utama SudirmanBlok X-7, Kav. 3-4Jakarta Selatan

Alamat rumah : Jl. Kramat Raya II/12Menteng,Jakarta Pusat

Telepon : +62 21 520 2020Jabatan : Direktur

2. Name : Dudi HermawanOffice address : Menara Jakarta Lt. 28

Sudirman Central BusinessDistrictBlock X-7, Kav. 3-4South Jakarta

Residential address : Jl. Kramat Raya II/12Menteng,Central Jakarta

Telephone : +62 21 520 2020Title : Director

menyatakan bahwa: declare that:

1. kami bertanggung jawab atas penyusunan dan penyajianlaporan keuangan konsolidasian PT Mining Indonesia Tbk danentitas anak;

1. we are responsible for the preparation and presentation of theconsolidated financial statements of PT Mining Indonesia Tbkand its subsidiaries;

2. laporan keuangan konsolidasian PT Mining Indonesia Tbk danentitas anak telah disusun dan disajikan sesuai dengan StandarAkuntansi Keuangan di Indonesia;

2. the consolidated financial statements of PT Mining IndonesiaTbk and subsidiaries have been prepared and presented inaccordance with Indonesian Financial Accounting Standards;

3. a. semua informasi dalam laporan keuangan konsolidasianPT Mining Indonesia Tbk dan entitas anak telah dimuatsecara lengkap dan benar;

b. laporan keuangan konsolidasian PT Mining IndonesiaTbk dan entitas anak tidak mengandung informasi ataufakta material yang tidak benar, dan tidak menghilangkaninformasi atau fakta material;

3. a. all information in the consolidated financial statementsof PT Mining Indonesia Tbk and its subsidiaries havebeen disclosed in a complete and truthful manner;

b. the consolidated financial statements of PT MiningIndonesia Tbk and subsidiaries do not contain anyincorrect information or material facts, nor do they omitany information or material facts;

4. kami bertanggung jawab atas sistem pengendalian internaldalam PT Mining Indonesia Tbk

4. we are responsible for PT Mining Indonesia Tbk’s internalcontrol system.

Demikian pernyataan ini dibuat dengan sebenarnya. Thus this statement is made truthfully.

Atas nama dan mewakili Direksi/For and on behalf of the Board of Directors:

Adhi WijayaPresiden Direktur/President Director

Dudi HermawanDirektur/Director

Jakarta, 31 Januari/January 2014

PT MINING INDONESIA Tbk DAN ENTITAS ANAK/AND SUBSIDIARIES

Lampiran 1/1 Schedule

LAPORAN POSISI KEUANGAN KONSOLIDASIAN31 DESEMBER 2013 DAN 2012(Dinyatakan dalam ribuan Dolar AS,kecuali nilai nominal dan data saham)

CONSOLIDATED STATEMENTS OF FINANCIALPOSITION

AS AT 31 DECEMBER 2013 AND 2012(Expressed in thousands of US Dollars,

except for par value and share data)

Catatan atas laporan keuangan konsolidasian terlampirmerupakan bagian yang tidak terpisahkan dari laporan

keuangan konsolidasian secara keseluruhan

The accompanying notes form an integral part of theseconsolidated financial statements

Catatan/2013 Notes 2012

1p52 ASET ASSETS BR-18

1p58 ASET LANCAR CURRENT ASSETS BR-181p52(h) Kas dan setara kas 105,837 5 81,480 Cash and cash equivalents BR-18.r81p52(g) Piutang usaha Trade receivables

- Pihak ketiga 34,252 6 29,027 Third parties - BR-18.r10- Pihak berelasi 5,978 6, 34 3,827 Related parties - BR-18.r11

1p52(f) Persediaan 16,162 8 11,696 Inventories BR-18.r13Biaya dibayar dimuka 3,863 7 3,315 Prepaid expenses BR-18.r15

1p52 Aset lancar lain-lain 1,244 60 Other current assets BR-18.r12

Total aset lancar 167,336 129,405 Total current assets

1p58 ASET TIDAK LANCAR NON-CURRENT ASSETS BR-181p52(d) Aset keuangan tersedia untuk dijual 2,000 10 380 Available-for-sale financial assets1p52(e) Investasi pada entitas asosiasi 8,779 9 7,034 Investments in associates BR-18.r19

Biaya pengupasan lapisan tanahyang ditangguhkan 21,918 11 13,400 Deferred stripping costs

Aset eksplorasi dan evaluasi 6,300 12 5,298 Exploration and evaluation assetsProperti pertambangan 62,896 13 28,873 Mining properties

1p52(a) Aset tetap 261,458 14 175,271 Property, plant and equipment BR-18.r231p52(c) Aset takberwujud 69,587 15 50,903 Intangible assets BR-18.r241p52(n) Aset pajak tangguhan 954 20c 603 Deferred tax assets BR-18.r251p53 Aset tidak lancar lainnya 1,110 37 776 Other non-current assets

Total aset tidak lancar 435,002 282,538 Total non-current assets

TOTAL ASET 602,338 411,943 TOTAL ASSETS



LAPORAN POSISI KEUANGAN KONSOLIDASIAN31 DESEMBER 2013 DAN 2012(Dinyatakan dalam ribuan Dolar AS,kecuali nilai nominal dan data saham)

CONSOLIDATED STATEMENTS OF FINANCIALPOSITION

AS AT 31 DECEMBER 2013 AND 2012(Expressed in thousands of US Dollars,

except for par value and share data)





LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS LIABILITIES BR-18

1p58 LIABILITAS JANGKA PENDEK CURRENT LIABILITIES BR-18/191p52(j) Utang usaha 34,507 16 14,314 Trade payables BR-18.r28

Beban akrual 6,387 17 7,713 Accrued expenses BR-18.r291p52(k) Liabilitas imbalan kerja jangka Short-term employee benefit BR-19.r12

pendek 150 135 liabilities1p52(m) Utang pajak 9,593 20a 6,598 Taxes payable BR-18.r30

Utang iuran eksploitasi 4,403 18 3,408 Exploitation fee payableBagian lancar atas pinjaman Current maturity of long-term

jangka panjang: borrowings: BR-18.r32- Utang sewa pembiayaan 3,018 19c 1,451 Finance lease payables -- Utang bank 39,000 19a 23,250 Bank loans -

Provisi reklamasi dan penutupan Provision for mine reclamation1p52(k) tambang 2,740 22 2,082 and closure BR-18.r35

Utang lain-lain 832 60 Other liabilities BR-18.r33

Total liabilitas jangka pendek 100,630 59,011 Total current liabilities

1p58 LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES BR-19Pinjaman jangka panjang setelah Long-term borrowings, net of

dikurangi bagian lancar: current maturities:- Utang sewa pembiayaan 11,388 19c 6,102 Finance lease payables - BR-19.r6- Utang bank 44,500 19a 36,500 Bank loans - BR-19.r4- Obligasi konversi 95,127 19b 95,088 Convertible bonds - BR-19.r9

Utang pihak berelasi nonusaha 10,535 34 14,488 Non-trade related party payables BR-19.r51p52(k) Kewajiban imbalan pasca kerja 5,150 21 4,181 Post employment benefit obligations BR-19.r121p52(n) Liabilitas pajak tangguhan 5,187 20c 2,726 Deferred tax liabilities BR-19.r131p52(k) Provisi reklamasi dan penutupan Provision for mine reclamation

tambang 14,835 22 9,600 and closure BR-19.r15

Total liabilitas jangka panjang 186,722 168,685 Total non-current liabilities

EKUITAS EQUITY BR-20

Ekuitas yang diatribusikan Equity attributable to1p52(q) kepada pemilik entitas induk owners of the parent BR-20

Modal saham - modal dasar Share capital - authorised600.000.000 lembar; 600,000,000 shares;ditempatkan dan disetor penuh issued and fully paid270.595.610 lembar dengan 270,595,610 shares atnilai nominal Rp500 (AS$0,05) par value of Rp500per saham 13,991 23 13,991 (US$0.05) per share BR-20.r4

Tambahan modal disetor 18,192 24 18,192 Additional paid-in capital BR-20.r5Komponen ekuitas pada obligasi Equity component

konversi 4,950 19b 4,950 of convertible bondsSaldo laba Retained earnings- Dicadangkan 6,500 25 6,500 Appropriated -- Belum dicadangkan 203,059 104,245 Unappropriated - BR-20.r8Pendapatan komprehensif lainnya 140 20 Other comprehensive income BR-20.r9

Total ekuitas yang diatribusikan Total equity attributable tokepada pemilik entitas induk 246,832 147,898 owners of the parent

1p52(p) Kepentingan nonpengendali 68,154 26 36,349 Non-controlling interests BR-20.r10

Total ekuitas 314,986 184,247 Total equity

TOTAL LIABILITAS DANEKUITAS 602,338 411,943 TOTAL LIABILITIES AND EQUITY


Guidance notes – Statements of Financial Position

1. Additional statement of financial position

When an entity applies an accounting policy retrospectively or makes a retrospective restatement or reclassification,SFAS 1 and Bapepam-LK regulation requires the presentation of an additional statement of financial position as at thebeginning of the earliest comparative period.

2. Presentation of accounts in the statement of financial position

Under SFAS 1, reporting entities may choose to present the statement of financial position based on either current ornon-current distinction, or in order of liquidity whichever gives the most reliable and relevant presentation.

However, for public entities, the preference of Bapepam-LK is to present the accounts based on their current or non-current distinction in the statement of financial position. For certain industries, Bapepam-LK accepts presentation ofaccounts by order of liquidity. However, Bapepam-LK does not elaborate which industries it is referring to.Presentation of accounts by order of liquidity has been a generally accepted practice for the financial services industry.It is not clear whether the exemption can be extended to other industries outside the financial services industry.Therefore, it will be beneficial for reporting entities to obtain confirmation from Bapepam-LK if they intend to presenttheir accounts by order of liquidity prior to publishing the financial statements.

Generally, mining companies present their financial stataments based on current and non-current distinction in thestatements of financial position.



LAPORAN LABA RUGI KOMPREHENSIFKONSOLIDASIANUNTUK TAHUN-TAHUN YANG BERAKHIR31 DESEMBER 2013 DAN 2012(Dinyatakan dalam ribuan Dolar AS,kecuali laba bersih per saham dasar dan dilusian)

CONSOLIDATED STATEMENTS OFCOMPREHENSIVE INCOME

FOR THE YEARS ENDED31 DECEMBER 2013 AND 2012

(Expressed in thousands of US Dollars,except for basic and diluted earnings per share)





1p81(a) Pendapatan 505,318 29 271,769 Revenue BR-35.r12

1p96,100 Beban pokok pendapatan (289,893) 30 (154,830) Cost of revenue BR-35.r13

Laba bruto 215,425 116,939 Gross profit BR-35.r14

Beban usaha (21,096) 31 (12,263) Operating expenses BR-35.r151p84 Beban lain-lain, neto (1,010) 33 (940) Other expenses, net BR-35.r17

Laba usaha 193,319 103,736 Operating income

1p81(b) Biaya keuangan (8,200) 32 (6,996) Finance costs BR-35.r181p84 Pendapatan keuangan 874 32 835 Finance income1p81(c) Bagian atas laba neto entitas

asosiasi2 2,745 9 1,057 Share in net profit of associates2 BR-35.r19

Laba sebelum pajak penghasilan 188,738 98,632 Profit before income tax BR-35.r20

1p81(d) Beban pajak penghasilan (48,996) 20b (25,559) Income tax expense BR-35.r21

1p81(f) Laba tahun berjalan 139,742 73,073 Profit for the year BR-35.r24

Pendapatan komprehensif Other comprehensive income1p81(g) lainnya tahun berjalan for the year BR-35.r25

Perubahan nilai wajar atas aset Changes in fair value of60p21(a) keuangan tersedia untuk dijual 125 10 21 available-for-sale financial assets60p21(a) Beban pajak penghasilan terkait3 (5) 10 (1) Related income tax expenses3

Total laba komprehensif Total comprehensive incometahun berjalan 139,862 73,093 for the year BR-35.r28

Laba tahun berjalan yangdiatribusikan kepada: Profit for the year attributable to:

1p82(a)(ii) Pemilik entitas induk 114,314 60,971 Owners of the parent BR-35.r301p82(a)(i) Kepentingan nonpengendali 25,428 26 12,102 Non-controlling interests BR-35.31

Laba tahun berjalan 139,742 73,073 Profit for the year

Total laba komprehensif Total comprehensivetahun berjalan yang income for the yeardiatribusikan kepada: attributable to:

1p82(b)(ii) Pemilik entitas induk 114,434 60,991 Owners of the parent BR-35.341p82(b)(i) Kepentingan nonpengendali 25,428 26 12,102 Non-controlling interests BR-35.35

Total laba komprehensif Total comprehensive incometahun berjalan 139,862 73,093 for the year

56p67 Laba bersih per saham 28 Earnings per shareDasar 0.422 0.225 Basic BR-35.r36Dilusian 0.319 0.175 Diluted BR-35.r36


Guidance notes – Statements of Comprehensive Income

1. Alternative format

a. Analysis of expenses

SFAS 1 states that an entity may choose to present an analysis of expenses using a classification based on eitherthe function or the nature of the expenses, whichever provides the most reliable and relevant information. If theexpenses are presented by function, additional disclosure of the nature of expenses is required.

However, for public entities, the preference of Bapepam-LK is to present the analysis of expenses by function inthe statement of comprehensive income. Nevertheless, Bapepam-LK permits entities to adjust the format inorder to make it more relevant to industry characteristics. However, Bapepam-LK does not specifically prescribewhich industries are permitted to classify their expenses by nature. We recommend that reporting entitiesobtain confirmation from Bapepam-LK before using nature as the basis of expenses classification.

b. One or two statement approach

Under SFAS 1, an entity has the choice to present the profit and loss and items of other comprehensive incomeusing a one statement or a two statement approach. Under Bapepam-LK Regulation, entities are required topresent the statement of comprehensive income using the one statement approach.

2. Share of associates’ results

The share of associates’ results refer to the Group’s share of associated companies’ results after tax and non-controlling interests which are accounted for in accordance with SFAS 15, “Investments in Associates”.

3. Tax effects – Other comprehensive income

As required by Bapepam-LK, this publication illustrates the presentation of these items individually gross of taxand the total tax effect is presented as a separate line item, except for the share of other comprehensive income ofassociates, which is presented net of tax. Alternatively, SFAS 1 permits reporting entities to present these itemsindividually, net of tax.

4. Operating profit

Entities may elect to include a sub-total for its results from operating activities. However, care must be taken thatthe amount disclosed is representative of the activities that would normally be considered to be ‘operating’. Itemsthat are clearly of an operating nature, for example inventory write‑downs, restructuring or relocation expenses,must not be excluded simply because they occur infrequently or are unusual in amount. Similarly, expenses cannotbe excluded on the grounds that they do not involve cash flow (e.g. depreciation or amortisation). As a general rule,operating profit is usually the subtotal after ‘other expenses’, i.e. excluding finance costs and the share of profits ofequity-accounted investments.

5. Additional disclosures

Additional line items, headings and subtotals should be presented in the statement of comprehensive income and aseparate income statement (if presented) only when such presentation is necessary for an understanding of theentity’s financial performance, the presentation is free of bias and undue prominence, the presentation is appliedconsistently and the methods are described in detail within the accounting policies.



LAPORAN PERUBAHAN EKUITAS KONSOLIDASIANUNTUK TAHUN-TAHUN YANG BERAKHIR 31 DESEMBER 2013 DAN 2012(Dinyatakan dalam ribuan Dolar AS)

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITYFOR THE YEARS ENDED 31 DECEMBER 2013 AND 2012

(Expressed in thousands of US Dollars)

Catatan atas laporan keuangan konsolidasian terlampir merupakanbagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan

The accompanying notes form an integral part ofthese consolidated financial statements

BR - 38 Diatribusikan kepada pemilik entitas induk/Attributable to owners of the parent

Pendapatankomprehensiflainnya/Other

1p105 comprehensiveBR - 38 income

Cadanganperubahan nilai

Komponen wajar atasekuitas pada aset keuangan

Tambahan obligasi tersedia untuk Kepentinganmodal konversi/ dijual/Reserve non

Modal disetor/ Equity Saldo laba/Retained earnings for changes pengendali/ Jumlahsaham/ Additional component Belum in fair value of Non- ekuitas/

Catatan/ Share paid-in of convertible Dicadangkan/ dicadangkan/ available-for-sale Jumlah/ controlling TotalNotes capital capital bond Appropriated Unappropriated financial assets Total interest equity

BR – 38 Saldo pada 1 Januari2012 13,991 18,192 4,950 6,500 58,274 - 101,907 24,247 126,154 Balance as at 1 January 2012

1p105 (c) Total laba rugi komprehensif Total comprehensive incometahun berjalan - - - - 60,971 20 60,991 12,102 73,093 for the year

1p105 (c)(iii) Dividen 25c - - - - (15,000) - (15,000) - (15,000) Dividends

Saldo pada 31 Desember2012 13,991 18,192 4,950 6,500 104,245 20 147,898 36,349 184,247 Balance as at 31 December 2012

1p105 (c) Total laba komprehensif Total comprehensive incometahun berjalan - - - - 114,314 120 114,434 25,428 139,862 for the year

Akuisisi tahun berjalan 4 - - - - - - - 7,927 7,927 Acquisition during the year1p105 (c)(iii) Dividen 25c, 26 - - - - (15,500) - (15,500) (1,550) (17,050) Dividends

Saldo pada 31 Desember2013 13,991 18,192 4,950 6,500 203,059 140 246,832 68,154 314,986 Balance as at 31 December 2013

Guidance notes – Statements of Changes in Equity (“SoCE”)

Presentation of each component of equity in the SoCE

SFAS 1 requires an entity to show, for each component of equity in the SoCE, a reconciliation between the carrying amount at the beginning and end of the period.Components of equity include, for example, each class of contributed equity, the accumulated balance of each class of other comprehensive income and retained profits.



LAPORAN ARUS KAS KONSOLIDASIANUNTUK TAHUN-TAHUN YANG BERAKHIR31 DESEMBER 2013 DAN 2012(Dinyatakan dalam ribuan Dolar AS,kecuali dinyatakan lain)

CONSOLIDATED STATEMENTS OF CASH FLOWSFOR THE YEARS ENDED

31 DECEMBER 2013 AND 2012(Expressed in thousands of US Dollars,

unless otherwise stated)




2013 2012

2p9 Arus kas dari aktivitas Cash flows from operating BR-392p17(a) operasi:1 activities: 1

2p18 Penerimaan dari pelanggan 497,722 268,940 Receipts from customersPembayaran kepada pemasok (247,885) (172,996) Payments to suppliersPembayaran kepada karyawan (20,943) (15,741) Payments to employeesPenerimaan dari pendapatan bunga3 874 835 Receipts of finance income3

Pembayaran iuran eksploitasi (23,374) (10,399) Payment of exploitation feesPembayaran biaya keuangan3 (8,260) (5,849) Payments of finance costs3

2p32 Pembayaran pajak penghasilan5 (47,466) (24,535) Payments of income taxes5

Arus kas bersih yang diperoleh Net cash flows generated fromdari aktivitas operasi 150,668 40,255 operating activities

2p9 Arus kas dari aktivitas Cash flows from investing BR-39investasi: activities:

2p36 Arus kas keluar neto dari akuisisi Net cash outflow from acquisitionentitas anak (65,507) - of a subsidiary

2p15(a) Payment for addition ofPembayaran atas penambahan aset property, plant and equipment

tetap dan properti pertambangan (63,423) (22,179) and mining properties2p15(b) Proceeds from disposal of

Hasil dari penjualan aset tetap 2,681 2,329 property, plant and equipmentPenambahan aset eksplorasi dan Addition of exploration and

evaluasi6 (2,635) (1,786) evaluation assets6

Penerimaan dividen3 1,000 300 Dividends received3

2p15(c) Pembelian aset keuangan Purchases of available-for-saletersedia untuk dijual (1,500) - financial assets

Arus kas bersih yang digunakan Net cash flows used inuntuk aktivitas investasi (129,384) (21,336) investing activities

2p9 Arus kas dari aktivitas Cash flows from financing BR-40pendanaan: activities:

2p16(c) Penerimaan dari utang bank 47,000 23,500 Proceeds from bank loans2p16(d) Pembayaran utang bank (23,250) (11,625) Repayments of bank loans2p16(e) Pembayaran utang sewa Payments for

pembiayaan (1,451) (9,631) finance lease payables2p28 Pembayaran dividen kas kepada Cash dividends paid BR-40

pemilik induk perusahaan3 (15,500) (15,000) to owners of the parent3

Pembayaran dividen kepada Payment of dividend to BR-40kepentingan nonpengendali (1,550) - non-controlling interests

Arus kas bersih yang diperoleh Net cash flows generateddari/(digunakan untuk) from/(used in) financingaktivitas pendanaan 5,249 (12,756) activities

Kenaikan bersih Net increase inkas dan setara kas 26,533 6,163 cash and cash equivalents

2p44 Kas dan setara kas pada Cash and cash equivalentsawal tahun 81,480 77,275 at beginning of the year

Dampak perubahan selisih kurs Exchange losses on cash andterhadap kas dan setara kas4 (2,176) (1,958) cash equivalent4

Kas dan setara kas pada Cash and cash equivalents atakhir tahun (lihat Catatan 5) 105,837 81,480 end of the year (refer to Note 5)

Lihat Catatan 27 untuk penyajian transaksinonkas Grup.

Refer to Note 27 for presentation of the Group’snon-cash transactions.


Guidance notes – Statements of Cash Flows

1. Direct/indirect method

An entity can present its statement of cash flow using the direct or indirect method. However, a listed entity isrequired to present its cash flow statement using the direct method (as presented above).

2. Cash flows from investing and financing activities

Major classes of gross cash receipts and gross cash payments arising from investing and financing activities arereported separately, except to the extent that the cash flows described in the paragraphs below are reported on a netbasis.

Cash flows arising from the following operating, investing or financing activities may be reported on a net basis:a) cash receipts and payments on behalf of customers when the cash flows reflect the activities of the customer

rather than those of the entity (for example, rents collected on behalf of, and paid over to, the owners ofproperties); and

b) cash receipts and payments for items for which the turnover is quick, the amounts are large, and the maturitiesare short (for example, advances made for, and repayment of, principal amounts relating to credit cardcustomers).

3. Dividends and interest

Cash flows from interest received and paid and dividends received shall each be disclosed separately, and classifiedconsistently.

There is no consensus on the classification of cash paid in relation to interest paid and dividends received in the cashflow presentation. Interest paid and dividends received may be classified as operating cash flows because they enterinto the determination of net profit or loss. Alternatively, interest paid and dividends received may also be classifiedas financing or investing cash flows, because they are costs of obtaining financial resources or returns on investments.

Dividends paid may be classified as financing cash flows because they are a cost of obtaining financial resources.Alternatively, they may be classified as operating cash flows in order to assist users in determining the ability of anentity to pay dividends out of its operating cash flows.

4. Effects of exchange rate changes

Unrealised gains and losses arising from changes in foreign currency exchange rates are not cash flows. However, theeffect of exchange rate changes on cash and cash equivalents held or due in a foreign currency are reported in thestatement of cash flows in order to reconcile cash and cash equivalents at the beginning and the end of the period.This amount is presented separately from cash flows from operating, investing and financing activities. It alsoincludes the differences, if any, had these items of cash flows been reported at period-end exchange rates.

5. Income tax

Cash flows arising from income taxes are separately disclosed and classified as cash flows from operating activitiesunless they can be specifically identified with financing and investing activities.

6. Exploration and evaluation assets

Only items of expenditure that result in recognised assets in the statement of financial position are eligible forclassification as investing activities. Therefore, if an entity adopted a policy of expensing exploration and/orevaluation costs, the related cash flows could not be classified as part of investing activities. Instead, they would needto be classified as part of operating activities.


Guidance notes on materiality and aggregation in preparing financial statements

Under SFAS 1, in presenting the line items of the financial statements, entities shall present each material class of similaritems separately. Reporting entities shall also separately present items of a dissimilar nature or function unless they areimmaterial. However, SFAS does not prescribe any materiality threshold. The materiality concept as commonlyunderstood by the investors is used to determine the sufficiency of the disclosures.

Differently to SFAS 1, Bapepam-LK has defined specific rules to determine whether an item or a group of similar items ismaterial enough to be presented and disclosed separately in the financial statements. Materiality for this purpose isdetailed as follows:1. 5% of total assets for asset accounts2. 5% of total liabilities for liability accounts3. 5% of total equity for equity accounts4. 10% of total revenue for comprehensive income accounts5. 10% of total profit before tax from continuing operations for the impact of an event or a transaction on the financial

statements.

In its regulations, Bapepam-LK also lists the required line items that must be presented in the financial statementsregardless of materiality. Those items are called “main components”. Items that are not listed among the maincomponents may be combined into a single line item, as long as the total amount does not exceed the materialitythreshold as mentioned above.

For illustrative purposes, the items in the statement of financial position and the statement of comprehensive income ofthis publication already reflects all of the required main components.

Guidance notes on comparative information

Bapepam-LK requires the inclusion of all information relating to comparative figures, irrespective of its relevance to thecurrent year’s results. Reporting entities have to reproduce the comparative disclosures in full.



CATATAN ATAS LAPORAN KEUANGANKONSOLIDASIAN31 DESEMBER 2013 DAN 2012(Dinyatakan dalam ribuan Dolar AS)

NOTES TO THE CONSOLIDATED FINANCIALSTATEMENTS

31 DECEMBER 2013 AND 2012(Expressed in thousands of US Dollars)

BR-43 1. INFORMASI UMUM 1. GENERAL INFORMATION

(a) Pendirian Perusahaan dan informasilainnya

(a) Establishment of the Company and otherinformation

1p138(a)BR-43

1p138(b)

PT Mining Indonesia Tbk (“Perusahaan”)didirikan pada tanggal 2 Desember 2001,berdasarkan Akta Notaris No. 30 tanggal2 Desember 2001 dari Notaris Effendy,S.H., notaris di Jakarta. Akta PendirianPerusahaan telah disahkan oleh MenteriKehakiman Republik Indonesia dengansurat No. C-0-1234-HT.01-90 TH.01tanggal 10 Desember 2001, dandiumumkan dalam Tambahan No. 10Berita Negara Republik Indonesia No. 16tanggal 20 Desember 2001. AnggaranDasar Perusahaan telah diubah beberapakali dengan perubahan terakhirberdasarkan Akta Notaris Effendy, S.H.,No. 15 tanggal 28 Agustus 2008 untukmenyesuaikan Anggaran DasarPerusahaan dengan Peraturan Bapepam-LK No. VIII.K.2 tanggal 14 Mei 2008tentang Pokok-Pokok Anggaran DasarPerseroan yang Melakukan PenawaranUmum Efek Bersifat Ekuitas danPerusahaan Publik. Perubahan AnggaranDasar ini telah diterima oleh MenteriHukum dan Hak Asasi Manusia RepublikIndonesia dengan Surat Keputusan No.AHU-AH.01.09-23481, tanggal 2Desember 2008 dan No. AHU-AH.01.10-27902, tanggal 2 Desember 2008.

PT Mining Indonesia Tbk (the“Company”) was established on 2December 2001, by Notarial Deed No. 30dated 2 December 2001 of NotaryEffendy, S.H., notary in Jakarta. TheEstablishment Deed was approved by theMinister of Justice of the Republic ofIndonesia in its decision letter No. C-0-1234-HT.01-90 TH.01 dated 10 December2001 and published in Supplement No. 10to State Gazette No.16 dated 20 December2001. The Articles of Association of theCompany have been amended severaltimes with the most recent change basedon Notarial Deed No. 15 dated 28 August2008 of Effendy, S.H., to conform withthe requirements of the Regulations ofBapepam-LK No. VIII.K.2 dated 14 May2008 regarding the Principles for theArticles of Association of Companieswhich Conduct Public Offerings of EquitySecurities and of Public Companies. Theamendment of the Articles of Associationwas accepted by the Minister of Law andHuman Rights of the Republic ofIndonesia in Decree No. AHU-AH.01.09-23481, dated 2 December 2008 and No.AHU-AH.01.10-27902, dated 2 December2008.

BR-43

1p138(a)BR-43

Sesuai dengan Pasal 3 Anggaran DasarPerusahaan, maksud dan tujuan sertakegiatan Perusahaan adalah melakukankegiatan usaha di bidang sewa gedung,logistik dan infrastuktur. Entitas anakbergerak dalam bidang usaha eksplorasi,pengembangan dan produksi batubara,serta jasa kontraktor penambangan.

Perusahaan mulai beroperasi secarakomersial pada bulan Desember 2002.Perusahaan berdomisili di Jakarta danberlokasi di Gedung Menara Jakarta,Lantai 28, Distrik Bisnis UtamaSudirman, Blok X-7, Kav. 3-4, JakartaSelatan.

In accordance with Article 3 of theCompany’s Article of Association, theCompany’s objectives and scope ofactivities is to engage in building rental,logistic and infrastructure activities. TheCompany’s subsidiaries are engaged inexploration for, development of andproduction of coal as well as providingmining contractor services.

The Company commenced its commercialoperations in December 2002. TheCompany’s head office is in Jakarta andlocated at the Menara Jakarta Building,28th floor, Sudirman Central BusinessDistrict, Block X-7, Kav. 3-4, SouthJakarta.






BR-43 1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)

(a) Pendirian Perusahaan dan informasilainnya (lanjutan)

(a) Establishment of the Company and otherinformation (continued)

BR-44BR-45

Pada tanggal 31 Desember 2013 dan 2012,susunan anggota Dewan Komisaris danDireksi Perusahaan adalah sebagaiberikut:

As at 31 December 2013 and 2012, thecomposition of the Company’s Boards ofCommissioners and Directors were asfollows:

Presiden Komisaris : Fajar Santoso : President CommissionerKomisaris : Galih Purnama : Commissioners

Halim BaskoroKomisaris

Independen : Angelina Josephine Kwok : Independent Commissioners

Presiden Direktur : Adhi Wijaya : President DirectorDirektur : Budi Susilo : Directors

Dudi HermawanEva BernadethAmier Handoko

Direktur tidakterafiliasi : Adeline Joanne Kwok : Unaffiliated Director

BR-44BR-45

Susunan Komite Audit Perusahaan padatanggal 31 Desember 2013 dan 2012adalah sebagai berikut:

The composition of the Company’s AuditCommittee as at 31 December 2013 and2012 was as follows:

Ketua : Angelina Josephine Kwok : ChairmanAnggota : Maria Octaviany : Members

Bambang Prawira

BR-45 Pada tanggal 31 Desember 2013,Perusahaan dan entitas anak memiliki2.131 orang karyawan tetap (2012: 2.092orang karyawan tetap).

Pada laporan keuangan konsolidasian ini,Perusahaan dan entitas anak secarakeseluruhan dirujuk sebagai “Grup”.

As at 31 December 2013, the Companyand its subsidiaries had 2,131 permanentemployees (2012: 2,092 permanentemployees).

In these consolidated financialstatements, the Company and itssubsidiaries are collectively referred to asthe “Group”.

BR-43 (b) Penawaran umum

(1) Saham biasa

(b) Public offering

(1) Ordinary shares

BR-43 Pada tanggal 25 Februari 2008,Perusahaan memperoleh pernyataanefektif Ketua Bapepam-LK melaluisurat No. S-123/BL/2008 perihalPemberitahuan Efektif PernyataanPendaftaran dalam rangka PenawaranUmum Perdana Saham Biasa PTMining Indonesia Tbk untukmelakukan Penawaran Umum Perdanasebesar 100.000.000 lembar sahambiasa. Saham tersebut telah dicatat diBursa Efek Indonesia (“BEI”) padatanggal 12 Maret 2008.

On 28 February 2008, the Companyreceived an effective statement fromthe Chairman of Bapepam-LKthrough letter No. S-123/BL/2008regarding the Notification ofEffectiveness of Registration of PTMining Indonesia Tbk’s Initial PublicOffering of Ordinary Shares toundertake a Public Offering of100,000,000 ordinary shares. TheCompany’s shares were listed on theIndonesian Stock Exchange (“IDX”) on12 March 2008.






PersentaseMulai beroperasi kepemilikan efektif

Kegiatan komersial/ dan proporsi hak suara/ Jumlah asetusaha/ Commencement Effective percentage of (sebelum eliminasi)/

Business Kedudukan/ of commercial ownership and voting Total assetsactivity Domicile operations right proportion (before elimination)

2013 2012 2013 2012Kepemilikan langsung/

Direct ownership:PT Mining Berdikari Pertambangan/

Indonesia Mining Indonesia 2007 90.0% 90.0% 218,312 192,977

PT JasaPenambangan Jasa pertambangan/Indonesia Mining services Indonesia 2007 70.0% 70.0% 149,230 128,357

PT Mining Swadaya Pertambangan/Indonesia Mining Indonesia 2008 90.0% 90.0% 33,477 25,522

PT Mining Mandiri Pertambangan/Indonesia Mining Indonesia 2008 85.0% - 129,024 -

1p138c)BR-43

Pada tanggal 15 Januari 2013, Perusahaanmengakuisisi 85% saham PT MiningMandiri Indonesia. PT Mining MandiriIndonesia adalah perusahaan yangbergerak di bidang pertambanganbatubara dan berdomisili di Indonesiayang telah beroperasi secara komersialpada tanggal 20 Juli 2008 (lihat Catatan4).

On 15 January 2013, the Companyacquired 85% of the share capital of PTMining Mandiri Indonesia. PT MiningMandiri Indonesia is engaged in coalmining activities, is domiciled inIndonesia, and has been commerciallyoperating since 20 July 2008 (refer toNote 4).

1p138c)BR-43

Entitas induk langsung Perusahaan adalahPT Prime World Corporation, yangdidirikan di Indonesia, sedangkan entitasinduk utama Perusahaan adalah PT PrimaWarna Corp, yang juga didirikan danberdomisili di Indonesia.

The Company’s immediate parentcompany is PT Prime WorldCorporation, incorporated in Indonesiaand its ultimate parent company is PTPrima Warna Corp, which is alsoincorporated and domiciled inIndonesia.


BR-43 (b) Penawaran umum (lanjutan) (b) Public offering (continued)

BR-43

(2) Obligasi konversi

Perusahaan menerbitkan obligasikonversi PT Mining Indonesia Tbk(“Obligasi Konversi”) sebesarAS$100.000 berdasarkan SuratKeputusan Bapepam-LK No. S-4557/BL/2010 tanggal 12 Januari2010 dan Perjanjian PerwaliamanatanNo. 456 tanggal 19 Januari 2010 yangditandatangani Perusahaan dan PTBank London yang bertindak selakuwali amanat para pemegang obligasi.Obligasi Konversi dicatatkan di BEIpada tanggal 8 Februari 2010.

(2) Convertible bonds

The Company issued convertiblebonds of PT Mining Indonesia Tbk(the “Convertible Bond”) amounting toUS$100,000 based on Bapepam-LK’sletter No. S-4557/BL/2010 dated 12January 2010 and the TrusteeshipAgreement No. 456 dated 19 January2010 signed by the Company and PTBank London as the trustee for thebond holders. The convertible bondswere listed on the IDX on 8 February2010.

BR-43 (c) Struktur Grup (c) The Group Structure

BR-43 Pada tanggal 31 Desember 2013 dan 2012,struktur Grup adalah sebagai berikut:

As at 31 December 2013 and 2012, thestructure of the Group was as follows:







(d) Izin Usaha Pertambangan

Pada tanggal 31 Desember 2013, Grupmemiliki Izin Usaha Pertambangan OperasiProduksi (“IUPOP”) sebagai berikut:

(d) Mining Business Permits

As at 31 December 2013, the Group has thefollowing Operational Production MiningBusiness Permit (“IUPOP”):

NoSurat Keputusan/Decree Izin/Permit

Periode/ Period

Lokasi/LocationNomor/Number

Tanggal/ Date

Oleh/ByJenis/Type

Pemegang/ Holder

(Tahun/Years)

1 No.375/281/KEP/PERTAMBEN/2007

25 Juni/June 2007

Bupati Sibanjar/Regent of Sibanjar

IUPOP PT MiningBerdikariIndonesia

20 Kabupaten Sibanjar, Provinsi KalimantanSelatan/Sibanjar Regency, SouthKalimantan Province

2 No. 125.2/F.166/HK/VI/2008

16 Juni/June2008

Bupati KutaiKertanegara/ Regentof Kutai Kertanegara

IUPOP PT MiningSwadayaIndonesia

20 Kabupaten Kutai Kertanegara, ProvinsiKalimantan Timur/Kutai KertanegaraRegency, East Kalimantan Province

3 No. 367/281/KEP/PERTAMBEN/2008

23 Juni/June2008

Bupati Sibanjar/Regent of Sibanjar

IUPOP PT MiningMandiriIndonesia

20 Kabupaten Sibanjar, Provinsi KalimantanSelatan/Sibanjar Regency, SouthKalimantan Province

BR-451p116

2. IKHTISAR KEBIJAKAN AKUNTANSIYANG PENTING

2. SUMMARY OF SIGNIFICANTACCOUNTING POLICIES

1p43BR-5

Berikut ini adalah kebijakan akuntansi pentingyang diterapkan dalam penyusunan laporankeuangan konsolidasian Grup. Kebijakan initelah diterapkan secara konsisten terhadapsemua tahun yang disajikan, kecuali dinyatakanlain.

Presented below are the significant accountingpolicies adopted in preparing the consolidatedfinancial statements of the Group. These policieshave been consistently applied to all of the yearspresented, unless otherwise stated.

BR-45 2.1 Dasar penyusunan laporankeuangan konsolidasian

2.1 Basis of preparation of theconsolidated financial statements

BR-451p111(a)

Laporan keuangan konsolidasian Gruptelah disusun berdasarkan StandarAkuntansi Keuangan di Indonesia danKeputusan Ketua Bapepam-LK No. KEP-347/BL/2012 tertanggal 25 Juni 2012tentang Penyajian dan PengungkapanLaporan Keuangan Emiten atauPerusahaan Publik.

The consolidated financial statements ofthe Group have been prepared inconformity with Indonesian FinancialAccounting Standards and Decree of theChairman of Bapepam-LK No. KEP-347/BL/2012 dated 25 June 2012regarding the Presentation andDisclosure of Financial Statements ofIssuers or Public Companies.

1p116(a)BR-45

Laporan keuangan konsolidasian telahdisusun berdasarkan konsep hargaperolehan, kecuali aset keuangan tersediauntuk dijual dan aset dan liabilitaskeuangan (termasuk instrumen derivatif)diukur pada nilai wajar melalui laporanlaba rugi, serta menggunakan dasar akrualkecuali untuk laporan arus kaskonsolidasian.

The consolidated financial statementshave been prepared under the historicalcost convention, except for available-for-sale financial assets and financial assetsand liabilities (including derivativeinstruments) at fair value through profitor loss, and using the accrual basis exceptfor the consolidated statements of cashflows.

BR-451p1211p124

Penyusunan laporan keuangankonsolidasian berdasarkan StandarAkuntansi Keuangan di Indonesiamemerlukan penggunaan estimasiakuntansi penting tertentu. Penyusunanlaporan keuangan konsolidasian jugamengharuskan manajemen untukmembuat pertimbangan dalam prosespenerapan kebijakan akuntansi Grup.Area yang memerlukan tingkatpertimbangan yang lebih tinggi ataukompleks, atau area di mana asumsi danestimasi dapat berdampak signifikanterhadap laporan keuangan konsolidasiandiungkapkan di Catatan 3.

The preparation of consolidated financialstatements in conformity with IndonesianFinancial Accounting Standards requiresthe use of certain critical accountingestimates. It also requires management toexercise its judgement in the process ofapplying the Group’s accounting policies.The areas involving a higher degree ofjudgement or complexity, or areas whereassumptions and estimates are significantto the consolidated financial statementsare disclosed in Note 3.






BR-451p116

2. IKHTISAR KEBIJAKAN AKUNTANSIYANG PENTING (lanjutan)

2. SUMMARY OF SIGNIFICANTACCOUNTING POLICIES (continued)

BR-45 2.1 Dasar penyusunan laporankeuangan konsolidasian (lanjutan)

2.1 Basis of preparation of theconsolidated financial statements(continued)

Perubahan pada kebijakanakuntansi dan pengungkapan

Changes in accounting policies anddisclosures

Standar baru dan revisi yangditerapkan oleh Grup

New and amended standardsadopted by the Group

Tidak ada pernyataan standar akuntansikeuangan (“PSAK”) atau interpretasistandar akuntansi keuangan (“ISAK”)yang berlaku efektif untuk pertamakalinya untuk tahun buku yang dimulaipada 1 Januari 2013 yang memilikipengaruh signifikan terhadap laporankeuangan konsolidasian Grup.

There are no statements of financialaccounting standards (“SFAS”) orinterpretation of statements of financialaccounting standards (“ISFAS”) that areeffective for the first time for the financialyear beginning on 1 January 2013 thathave a material impact on theconsolidated financial statements of theGroup.

Standar dan interpretasi baru yangbelum diterapkan

New standards and interpretationsnot yet adopted

Tidak ada pernyataan standar akuntansikeuangan atau interpretasi standarakuntansi keuangan yang berlaku efektifuntuk pertama kalinya untuk tahun bukuyang dimulai pada 1 Januari 2014 yangakan memiliki pengaruh signifikanterhadap laporan keuangankonsolidasian Grup, kecuali yang dijelaskan di bawah ini:

There are no statements of financialaccounting standards or interpretationsof statements of financial accountingstandards that are effective for the firsttime for financial year beginning on 1January 2014 that would be expected tohave a material impact on theconsolidated financial statements of theGroup, except for the following:

- ISAK 29, “Biaya Pengupasan LapisanTanah Tahap Produksi padaPertambangan Terbuka”

- ISFAS 29, “Stripping Costs in theProduction Phase of a Surface Mine”

ISAK 29 menetapkan akuntansiuntuk biaya pemindahan materialsisa tambang (pengupasan lapisantanah) dalam tahap produksi padapertambangan terbuka. Interpretasiini mengubah praktik penggunaanpendekatan “rata-rata umurtambang” yang diterapkan sesuaidengan PSAK 33 (Revisi 2011),“Aktivitas Pengupasan LapisanTanah dan Pengelolaan LingkunganHidup pada Pertambangan Umum”.

ISFAS 29 sets out the accounting foroverburden waste removal(stripping) costs in the productionphase of a surface mine. Theinterpretation amends the current“life-of-mine average” approachpromulgated under SFAS 33 (Revised2011), “Stripping Activities andEnvironmental Management inGeneral Mining”.

Interpretasi ini mengharuskanperusahaan untuk mengakui asetaktivitas pengupasan lapisan tanah, jikadan hanya jika, seluruh kriteria berikutterpenuhi:

1. Besar kemungkinan bahwa manfaatekonomik masa depan (peningkatanakses menuju badan bijih (orebody)) yang terkait dengan aktivitaspengupasan lapisan tanah akanmengalir kepada entitas;

The interpretation requires the entities torecognise a stripping activity asset if, andonly if, all of the following are met:

1. It is probable that the future economicbenefit (improved access to the orebody) associated with the strippingactivity will flow to the entity;






BR-451p116



BR-45 2.1 Dasar penyusunan laporan keuangankonsolidasian (lanjutan)


Perubahan pada kebijakan akuntansidan pengungkapan (lanjutan)

Changes in accounting policies anddisclosures (continued)

Standar dan interpretasi baru yangbelum diterapkan (lanjutan)

New standards and interpretationsnot yet adopted (continued)

2. Entitas dapat mengidentifikasikomponen badan bijih yangaksesnya telah ditingkatkan; dan

3. Biaya yang terkait dengan aktivitaspengupasan lapisan tanah dengankomponen tersebut dapat diukursecara andal.

2. The entity can identify the componentof the ore body for which access hasbeen improved; and

3. The costs relating to the strippingactivity associated with thatcomponent can be measured reliably.

Karena itu, interpretasi ini mengharuskanentitas pertambangan untuk menghapusaset aktivitas pengupasan lapisan tanahyang ada ke saldo laba awal jika asettersebut tidak dapat dikaitkan dengankomponen badan bijih yang teridentifikasi.Interpretasi tersebut juga mungkinmangharuskan entitas yang saat inimengalokasikan biaya pengupasan lapisantanah mereka sebagai biaya produksiuntuk meninjau kembali pendekatanmereka dan mengkapitalisasi sebagian daribiaya mereka.

As such, the interpretation requiresmining entities to write off existingstripping assets to opening retainedearnings if the assets cannot be attributedto an identifiable component of the orebody. The interpretation may also requireentities that presently allocate theirstripping costs as a production cost torevisit their approach and capitalise aportion of their costs.

Grup sedang mengevaluasi dampak atasstandar ini terhadap posisi dan kinerjakeuangan.

The Group is currently assessing the impactof this interpretation on their financialposition and performance.

Standar, interpretasi beserta revisi atasstandar yang berlaku berikut telahditerbitkan dan bersifat wajib bagi laporankeuangan konsolidasian Grup untukperiode yang dimulai pada atau setelahtanggal 1 Januari 2015:

- PSAK No. 65 “Laporan KeuanganKonsolidasian”

- PSAK No. 66 “Pengaturan Bersama”- PSAK No. 67 “Pengungkapan

Kepentingan dalam Entitas Lain”- PSAK No. 68 “Pengukuran Nilai

Wajar”- PSAK No. 1 (Revisi 2013) “Penyajian

Laporan Keuangan”- PSAK No. 4 (Revisi 2013) “Laporan

Keuangan Tersendiri”- PSAK No. 15 (Revisi 2013) “Investasi

pada Entitas Asosiasi dan VenturaBersama”

- PSAK No. 24 (Revisi 2013) “ImbalanKerja”

The following standards, interpretationsand amendments to existing standardshave been published and are mandatory forthe Group’s consolidated financialstatements for periods beginning on orafter 1 January 2015:

- SFAS No. 65 “Consolidated FinancialStatements”

- SFAS No. 66 “Joint Arrangements”- SFAS No. 67 “Disclosure of Interests

in Other Entities”- SFAS No. 68 “Fair Value

Measurement”- SFAS No. 1 (Revised 2013)

“Presentation of Financial Statements”- SFAS No. 4 (Revised 2013) “Separate

Financial Statements”- SFAS No. 15 (Revised 2013)

“Investment in Associates and JointVentures”

- SFAS No. 24 (Revised 2013)“Employee Benefits”






BR-451p116



BR-45 2.1 Dasar penyusunan laporan keuangankonsolidasian (lanjutan)


Perubahan pada kebijakan akuntansidan pengungkapan (lanjutan)


Standar dan interpretasi baru yangbelum diterapkan (lanjutan)

New standards and interpretationsnot yet adopted (continued)

Pada saat penerbitan laporan keuangankonsolidasian, Grup masih mempelajaridampak yang mungkin timbul daripenerapan standar baru dan revisi tersebutserta pengaruhnya pada laporan keuangankonsolidasian Grup.

As at the authorisation date of theseconsolidated financial statements, theGroup is still evaluating the potentialimpact of these new and revised SFAS.

BR-46 2.2 Konsolidasi 2.2 Consolidation

(a) Entitas anak (a) Subsidiaries

4p44p104p11BR-46

Entitas anak merupakan semuaentitas (termasuk entitas bertujuankhusus), yang mana Grup memilikikekuasaan untuk mengatur kebijakankeuangan dan operasional dan padaumumnya disertai dengankepemilikan lebih dari setengahkekuasaan suara suatu entitas.Keberadaan dan dampak dari haksuara potensial yang saat ini dapatdilaksanakan atau dikonversi,dipertimbangkan ketika menilaiapakah Grup mengendalikan entitaslain. Grup juga menilai apakahterdapat pengendalian ketika Gruptidak memiliki lebih dari 50%kekuasaan suara tetapi dapatmengatur kebijakan keuangan danoperasional berdasarkanpengendalian de-facto. Pengendaliande-facto dapat timbul dalam situasidimana hak suara Grup, relatifterhadap besaran dan sebarankepemilikan pemegang sahamlainnya, memberikan Grup kekuasaanuntuk mengatur kebijakan keuangandan operasional, dan lain-lain.

Subsidiaries are all entities (includingspecial purpose entities), over whichthe Group has the power to govern thefinancial and operating policiesgenerally accompanying ashareholding of more than half of thevoting rights. The existence and effectof potential voting rights that arecurrently exercisable or convertible areconsidered when assessing whether theGroup controls another entity. TheGroup also assesses the existence ofcontrol in cases where it does not havemore than 50% of the voting power butis able to govern the financial andoperating policies by virtue of de-factocontrol. De-facto control may arise incircumstances where the size of theGroup’s voting rights relative to thesize and dispersal of the holdings ofother shareholders give the Group thepower to govern the financial andoperating policies, etc.

4p44p74p104p11BR-46BR-7

Entitas anak dikonsolidasikan sejaktanggal dimana pengendalian telahberalih kepada Grup dan tidak lagidikonsolidasi sejak tanggal hilangnyapengendalian.

Subsidiaries are consolidated from thedate on which control is transferred tothe Group. They are de-consolidatedfrom the date when that control ceases.






BR-451p116



BR-46 2.2 Konsolidasi (lanjutan) 2.2 Consolidation (continued)

(a) Entitas anak (lanjutan) (a) Subsidiaries (continued)

4p17BR-46

4p22

Saldo, transaksi, penghasilan, danbeban intra kelompok usahadieliminasi. Keuntungan dan kerugianhasil dari transaksi intra kelompokusaha yang diakui dalam aset jugadieliminasi. Kebijakan akuntansientitas anak telah diubah seperlunyauntuk memastikan konsistensipenerapan kebijakan oleh Grup.

Intra-group balances, transactions,income and expenses are eliminated.Profits and losses resulting fromintragroup transactions that arerecognised in assets are alsoeliminated. The accounting policies ofsubsidiaries have been amended wherenecessary to ensure consistency withthe policies adopted by the Group.

22p4BR-4622p37

22p39

22p18

Grup menerapkan metode akuisisiuntuk mencatat setiap kombinasibisnis. Imbalan yang dialihkan untukmengakuisisi entitas anak adalah nilaiwajar seluruh aset yang dialihkan,liabilitas yang diakui oleh pihakpengakuisisi kepada pemiliksebelumnya dari entitas yangdiakuisisi dan kepentingan ekuitasyang diterbitkan oleh Grup. Imbalanyang dialihkan termasuk nilai wajarsetiap aset dan liabilitas yangdihasilkan dari suatu kesepakatanimbalan kontinjensi. Asetteridentifikasi dan liabilitas danliabilitas kontinjensi yang diambilalih, yang diperoleh dalam kombinasibisnis diukur pada awalnya sebesarnilai wajar tanggal akuisisi.

The Group applies the acquisitionmethod to account for businesscombinations. The considerationtransferred for the acquisition of asubsidiary is the fair value of theassets transferred, the liabilitiesincurred to the former owners of theacquiree and the equity interestsissued by the Group. Theconsideration transferred includes thefair value of any asset or liabilityresulting from a contingentconsideration arrangement.Identifiable assets acquired andliabilities and contingent liabilitiesassumed in a business combinationare measured initially at their fairvalues at the acquisition date.

22p19BR-46

4p24

Grup mengakui kepentingannonpengendali pada pihak yangdiakuisisi baik sebesar nilai wajaratau sebesar bagian proporsionalkepentingan nonpengendali atas asetneto teridentifikasi pihak yangdiakuisisi. Kepentingannonpengendali disajikan di ekuitasdalam laporan posisi keuangankonsolidasian, terpisah dari ekuitaspemilik entitas induk.

The Group recognises any non-controlling interest in the acquiree onan acquisition-by-acquisition basis,either at fair value or at the non-controlling interest’s proportionateshare of the acquiree’s identifiable netassets. Non-controlling interest isreported as equity in the consolidatedstatement of financial position,separately from the owner of theparent’s equity.

22p53 Biaya terkait akuisisi dibebankanpada saat terjadinya.

Acquisition-related costs are expensedas incurred.

22p42BR-46

Jika kombinasi bisnis diperolehsecara bertahap, Grup akanmengukur kepentingan ekuitas yangsebelumnya dimiliki pada pihak yangdiakuisisi sebesar nilai wajar padatanggal akuisisi dan mengakuikeuntungan atau kerugian yangdihasilkan, jika ada, dalam laba rugi.

If the business combination isachieved in stages, the Group shallremeasure its previously held equityinterest in the acquiree at itsacquisition date and recognise theresulting gain or loss, if any, in profitor loss.






BR-451p116




(a) Entitas anak (lanjutan) (a) Subsidiaries (continued)

22p3922p58BR-46

Imbalan kontinjensi yang masih harusdialihkan oleh Grup diakui sebesarnilai wajar pada tanggal akuisisi.Perubahan selanjutnya atas nilaiwajar imbalan kontinjensi yang diakuisebagai aset atau liabilitas dicatatdalam laba rugi. Imbalan kontinjensiyang diklasifikasikan sebagai ekuitastidak diukur kembali danpenyelesaian selanjutnyadiperhitungkan dalam ekuitas.

Any contingent consideration to betransferred by the Group isrecognised at fair value at theacquisition date. Subsequent changesin the fair value of the contingentconsideration that is deemed to be anasset or liability is recognised in profitor loss. Contingent consideration thatis classified as equity is notremeasured, and its subsequentsettlement is accounted for withinequity.

22p32BR-46

22p34

Selisih lebih antara imbalan yangdialihkan, jumlah setiap kepentingannonpengendali dalam pihak yangdiakuisisi, dan nilai wajar padatanggal akuisisi dari kepemilikanekuitas yang sebelumnya dimiliki olehpihak pengakuisisi pada pihak yangdiakuisisi, dibandingkan dengan nilaiwajar bagian Grup atas aset bersihteridentifikasi yang diakuisisi, dicatatsebagai goodwill. Jika jumlah tersebutlebih kecil dari nilai wajar atas asetbersih teridentifikasi entitas anakyang diakuisisi dan pengukuran atasseluruh jumlah tersebut telahditelaah, dalam hal pembelian dengandiskon, selisih tersebut diakui secaralangsung dalam laba rugi.

The excess of the considerationtransferred, the amount of anynon-controlling interests in theacquiree and the acquisition-date fairvalue of any previous equity interestin the acquiree over the fair value ofthe Group’s share of the identifiablenet assets acquired is recorded asgoodwill. If those amounts are lessthan the fair value of the netidentifiable assets of the subsidiaryacquired and the measurement of allamounts has been reviewed, in thecase of a bargain purchase, thedifference is recognised directly inprofit or loss.

BR-46 (b) Perubahan kepemilikan atas entitasanak tanpa kehilangan pengendalian

(b) Changes in ownership interests insubsidiaries without change of control

4p274p28

Transaksi dengan kepentingannonpengendali yang tidakmengakibatkan hilangnyapengendalian dicatat sebagai transaksiekuitas. Selisih antara nilai wajarimbalan yang dibayarkan danbagiannya atas jumlah tercatat asetneto yang diperoleh dicatat dalamekuitas. Keuntungan atau kerugianatas pelepasan kepada kepentingannonpengendali juga dicatat padaekuitas.

Transactions with non-controllinginterests that do not result in a loss ofcontrol are accounted for as equitytransactions. The difference betweenthe fair value of any considerationpaid and the relevant share acquiredof the carrying value of net assets ofthe subsidiary is recorded in equity.Gains or losses on disposals to non-controlling interests are also recordedin equity.






BR-451p116




BR-46 (c) Pelepasan entitas anak (c) Disposal of subsidiaries

4p31 Ketika Grup kehilangan pengendalianatas entitas anak, Grup menghentikanpengakuan aset (termasuk setiapgoodwill) dan liabilitas entitas anakpada nilai tercatatnya ketikapengendalian hilang. Jumlah yangsebelumnya diakui dalam pendapatankomprehensif lain juga direklasifikasike laba rugi atau dialihkan secaralangsung ke saldo laba jikadisyaratkan oleh PSAK lain.

When the Group loses control of asubsidiary, the Group derecognisesthe assets (including any goodwill)and liabilities of the subsidiary attheir carrying amounts at the datewhen control is lost. Amountspreviously recognised in othercomprehensive income are alsoreclassified to profit or loss, ortransferred directly to retainedearnings if required in accordancewith other SFAS.

Sisa investasi pada entitas anakterdahulu diakui sebesar nilaiwajarnya. Setiap perbedaan antaranilai tercatat sisa investasi padatanggal hilangnya pengendalian dannilai wajarnya diakui dalam laba rugi.

Any investment retained in formersubsidiary is recognised at its fairvalue. The difference between thecarrying amount of the investmentretained at the date when control islost and its fair value is recognised inprofit or loss.

BR-49 (d) Entitas asosiasi (d) Associates

15p215p315p8BR-49

Entitas asosiasi adalah suatu entitasdimana Grup mempunyai pengaruhsignifikan, tetapi tidakmengendalikan, dan Grup memiliki20% atau lebih hak suara, tetapi tidakmelebihi 50% hak suara. Investasipada entitas asosiasi dicatat padalaporan keuangan konsolidasianmenggunakan metode ekuitasdikurangi kerugian penurunan nilai,jika ada.

Associates are entities over which theGroup has significant influence, butnot control, generally accompanied bya shareholding giving rise to votingrights of 20% and above but notexceeding 50%. Investments inassociates are accounted for in theconsolidated financial statementsusing the equity method of accountingless impairment losses, if any.

- Akuisisi - Acquisitions

15p8

15p20

Investasi pada entitas asosiasi padaawalnya diakui sebesar biayaperolehan. Biaya perolehan diukurberdasarkan nilai wajar aset yangdiserahkan, instrumen ekuitas yangditerbitkan atau liabilitas yangtimbul atau diambil alih padatanggal akuisisi, ditambah biayayang berhubungan langsungdengan akuisisi. Goodwill padaentitas asosiasi merupakan selisihlebih yang terkait dengan biayaperolehan investasi pada entitasasosiasi dengan bagian Grup atasnilai wajar neto aset teridentifikasidari entitas asosiasi dandimasukkan dalam jumlah tercatatinvestasi.

Investments in associates areinitially recognised at cost. Thecost of an acquisition is measuredat the fair value of the assetstransferred, equity instrumentsissued or liabilities incurred orassumed as at the date ofexchange, plus costs directlyattributable to the acquisition.Goodwill on associates representsthe excess of the cost of acquisitionof the associate over the Group’sshare of the fair value of theidentifiable net assets of theassociate and is included in thecarrying amount of theinvestment.






BR-451p116




BR-49 (d) Entitas asosiasi (lanjutan) (d) Associates (continued)

15p8 - Metode ekuitas - Equity method of accounting

15p8

15p2615p27

Dalam menerapkan metodeekuitas, bagian Grup atas laba rugientitas asosiasi setelah perolehandiakui dalam laba rugi, dan bagianGrup atas pendapatankomprehensif lainnya setelahtanggal perolehan diakui dalampendapatan komprehensif lainnya.Perubahan dan penerimaandistribusi dari entitas asosiasisetelah tanggal perolehandisesuaikan terhadap nilai tercatatinvestasi. Jika bagian Grup atasrugi entitas asosiasi sama denganatau melebihi kepentingannya padaentitas asosiasi, termasuk piutangtidak lancar tanpa jaminan, makaGrup menghentikan pengakuanbagiannya atas rugi lebih lanjut,kecuali Grup memiliki kewajibanuntuk melakukan pembayaran atautelah melakukan pembayaran atasnama entitas asosiasi.

In applying the equity method ofaccounting, the Group’s share of itsassociates’ post-acquisition profitsor losses are recognised in profitor loss and its share of post-acquisition other comprehensiveincome is recognised in othercomprehensive income. These post-acquisition movements anddistributions received fromassociates are adjusted against thecarrying amounts of theinvestments. When the Group’sshare of the losses of an associateequals or exceeds its interest in theassociate, including any otherunsecured non-currentreceivables, the Group does notrecognise further losses, unless ithas any obligation to make or hasmade payments on behalf of theassociate.

15p19

15p24

Keuntungan yang belum direalisasiatas transaksi antara Grup denganentitas asosiasi dieliminasi sebesarbagian Grup dalam entitas asosiasitersebut. Kerugian yang belumdirealisasi juga dieliminasi kecualitransaksi tersebut memberikanbukti penurunan nilai atas asetyang ditransfer. Kebijakanakuntansi entitas asosiasi akandisesuaikan, apabila diperlukan,agar konsisten dengan kebijakanakuntansi Grup.

Unrealised gains on transactionsbetween the Group and itsassociates are eliminated to theextent of the Group’s interest in theassociates. Unrealised losses arealso eliminated, unless thetransaction provides evidence ofimpairment of the assettransferred. The accountingpolicies of associates have beenchanged where necessary toensure consistency with theaccounting policies adopted by theGroup.

15p8 Dividen yang akan diterima darientitas asosiasi diakui sebagaipengurang jumlah tercatatinvestasi.

Dividends receivable fromassociates are recognised as areduction in the carrying amountof the investment.






BR-451p116




(d) Entitas asosiasi (lanjutan) (d) Associates (continued)

- Metode ekuitas (lanjutan) - Equity method of accounting(continued)

15p28

15p30

Pada setiap tanggal pelaporan,Grup menentukan apakah terdapatbukti objektif bahwa telah terjadipenurunan nilai pada investasi padaentitas asosiasi. Jika demikian,maka Grup menghitung besarnyapenurunan nilai sebagai selisihantara jumlah yang terpulihkan dannilai tercatat atas investasi padaperusahaan asosiasi dan mengakuiselisih tersebut dalam laba rugi.

The Group determines at eachreporting date whether there isany objective evidence that theinvestment in the associate isimpaired. If this is the case, theGroup calculates the amount ofimpairment as the differencebetween the recoverable amount ofthe associates and its carryingvalue and recognises the amountin profit or loss.

- Pelepasan - Disposals

15p14 Investasi pada entitas asosiasidihentikan pengakuannya apabilaGrup tidak lagi memiliki pengaruhsignifikan. Grup mengukurinvestasi yang tersisa sebesar nilaiwajar. Selisih antara jumlah tercatatinvestasi yang tersisa pada tanggalhilangnya pengaruh signifikan dannilai wajarnya diakui dalam labarugi.

Investments in associates arederecognised when the Group losessignificant influence and anyretained equity interest in theentity is remeasured at its fairvalue. The difference between thecarrying amount of the retainedinterest at the date whensignificant influence is lost and itsfair value is recognised in profit orloss.

15p16 Keuntungan dan kerugian yangtimbul dari pelepasan sebagianatau dilusi yang timbul padainvestasi pada entitas asosiasidimana pengaruh signifikan masihdipertahankan diakui dalam labarugi dan hanya suatu bagianproporsional atas jumlah yang telahdiakui sebelumnya padapendapatan komprehensif lainnyayang direklasifikasi ke laba rugi.

Gains and losses arising frompartial disposals or dilutions ofinvestments in associates in whichsignificant influence is retainedare recognised in profit or loss,and only a proportionate share ofthe amounts previously recognisedin other comprehensive income isreclassified to profit or loss whereappropriate.

BR-50 2.3 Penjabaran mata uang asing 2.3 Foreign currency translation

BR-45 (a) Mata uang fungsional dan penyajian (a) Functional and presentation currency

BR-45

10p9

BR-3BR-4510p58

Akun-akun yang disertakan dalamlaporan keuangan setiap entitasanggota Grup diukur menggunakanmata uang yang sesuai denganlingkungan ekonomi utama di manaentitas tersebut beroperasi (“matauang fungsional”). Laporan keuangankonsolidasian disajikan dalam DolarAmerika Serikat (“AS$” atau “DolarAS”) yang merupakan mata uangfungsional Perusahaan dan penyajianGrup.

Items included in the financialstatements of each of the Group’sentites are measured using thecurrency of the primary economicenvironment in which the relevantentity operates (the “functionalcurrency”). The consolidated financialstatements are presented in UnitedStates Dollar (“US$” or “US Dollars”)which is the functional currency of theCompany and the presentationcurrency of the Group.






BR-451p116



BR-50 2.3 Penjabaran mata uang asing(lanjutan)

2.3 Foreign currency translation(continued)

BR-50 (b) Transaksi dan saldo (b) Transactions and balances

10p2110p2855p10410p1855p11155PA99BR-4BR-50

Transaksi dalam mata uang asingdijabarkan ke dalam mata uangfungsional dengan menggunakan kursyang berlaku pada tanggal transaksi.Keuntungan dan kerugian selisih kursyang timbul dari penyelesaiantransaksi dalam mata uang asing dandari penjabaran aset dan liabilitasmoneter dalam mata uang asingmenggunakan kurs yang berlaku padaakhir tahun diakui dalam laba rugi.

Foreign currency transactions aretranslated into the functionalcurrency using the exchange ratesprevailing at the dates of thetransactions. Foreign exchangegains and losses resulting from thesettlement of such transactions andfrom the translation at year-endexchange rates of monetary assetsand liabilities denominated inforeign currencies are recognised inprofit or loss.

BR-50 Kurs yang digunakan pada tanggallaporan posisi keuangankonsolidasian, berdasarkan kurstengah Bank Indonesia, adalahsebagai berikut (dalam Dolar ASpenuh):

As at the consolidated statement offinancial position dates, the exchangerates used, based on the middle ratesof the Bank of Indonesia, were asfollow (full US Dollar amounts):

2013 2012

Rupiah 10.000 (“Rp”) 0.87 1.03 Rupiah 10,000 (“Rp”)Pound Sterling Inggris (“£”) 1.29 1.61 Great Britain Pound Sterling (“£”)Dolar Singapura (“S$”) 0.80 0.82 Singapore Dollars (“S$”)

BR-50 Keuntungan dan kerugian selisihkurs yang berhubungan denganpinjaman, serta kas dan setara kasdisajikan pada laporan laba rugisebagai “pendapatan atau biayakeuangan”. Keuntungan ataukerugian neto selisih kurs lainnyadisajikan pada laporan laba rugisebagai “beban lain-lain, neto”.

Foreign exchange gains and lossesthat relate to borrowings and cashand cash equivalents are presented inthe profit or loss within “financeincome or costs”. All other net foreignexchange gains and losses arepresented in profit or loss within“other expenses, net”.

BR-47 2.4 Aset keuangan 2.4 Financial assets

BR-12 a. Klasifikasi, pengakuan, danpengukuran

a. Classifications, recognitionand measurement

60p2155p45BR-12BR-13

Grup mengklasifikasikan asetkeuangan dalam kategori berikut ini:(i) nilai wajar melalui laporan labarugi, (ii) dimiliki hingga jatuh tempo,(iii) pinjaman dan piutang, dan (iv)tersedia untuk dijual. Klasifikasi initergantung pada tujuan perolehanaset keuangan. Manajemenmenentukan klasifikasi asetkeuangan pada saat awal pengakuan.

The Group classifies its financialassets in the following categories:(i) fair value through profit or loss,(ii) held-to-maturity investments,(iii) loans and receivables and (iv)available-for-sale. Theclassification depends on thepurpose for which the financialassets were acquired. Managementdetermines the classification of itsfinancial assets at initialrecognition.






BR-451p116



BR-47 2.4 Aset keuangan (lanjutan) 2.4 Financial assets (continued)

BR-12 a. Klasifikasi, pengakuan, danpengukuran (lanjutan)

a. Classifications, recognition andmeasurement (continued)

BR-13 (i) Aset keuangan yang diukur padanilai wajar melalui laba rugi

(i) Financial assets at fair valuethrough profit or loss

55p8BR-13

1p64BR-20

Aset keuangan yang diukur padanilai wajar melalui laba rugiadalah aset keuangan yangdimiliki untuk diperdagangkan.Aset keuangan diklasifikasikandalam kelompok ini jika diperolehterutama untuk tujuan dijualdalam waktu dekat. Derivatif jugadiklasifikasikan sebagai kelompokdiperdagangkan kecuali yangmerupakan instrumen lindungnilai. Aset dalam kategori inidiklasifikasikan sebagai asetlancar jika diharapkan dapatdirealisasikan dalam 12 bulan;sebaliknya, aset diklasifikasikansebagai aset tidak lancar.

Financial assets at fair valuethrough profit or loss arefinancial assets held for trading.A financial asset is classified inthis category if it was acquiredprincipally for the purpose ofselling in the short-term.Derivatives are also categorisedas held for trading unless theyare designated as hedges. Assetsin this category are classified ascurrent assets if they are expectedto be settled within 12 months,otherwise they are classified asnon-current assets.

55p43,46BR-13

Aset keuangan yang diukur padanilai wajar melalui laba rugi, padaawalnya diakui sebesar nilai wajardan biaya transaksi dibebankandalam laba rugi, dan kemudiandiukur sebesar nilai wajarnya.

Financial assets carried at fairvalue through profit or loss areinitially recognised at their fairvalue, and transaction costs areexpensed in profit or loss andsubsequently carried at fairvalue.

55p62(a)

BR-77

Keuntungan atau kerugian yangtimbul dari perubahan nilai wajardari aset keuangan ini disajikandalam laba rugi sebagai “bebanlain-lain, neto” dalam tahunterjadinya. Pendapatan dividendari aset keuangan yang diukurpada nilai wajar melalui laba rugijuga diakui dalam laba rugisebagai bagian dari “beban lain-lain, neto” pada saatditetapkannya hak Grup untukmenerima pembayaran tersebut.Pendapatan bunga aset keuangantersebut dicatat sebagai“pendapatan keuangan”.

Gains or losses arising fromchanges in the fair values of thefinancial assets are presented inprofit or loss within “otherexpenses, net” in the year inwhich they arise. Dividendincome from the financial assetsat fair value through profit orloss is also recognised in profit orloss within “other expenses, net”when the Group’s right to receivepayments is established. Interestincome from these financialassets is included within “financeincome”.






BR-451p116






BR-13 (ii) Investasi yang dimiliki hinggajatuh tempo

(ii) Held-to-maturity investments

BR-1355p8

Investasi yang dimiliki hinggajatuh tempo adalah aset keuangannonderivatif dengan pembayarantetap atau telah ditentukan danjatuh temponya telah ditetapkan,serta Grup mempunyai intensipositif dan kemampuan untukmemiliki aset keuangan tersebuthingga jatuh tempo, kecuali:

Held-to-maturity investments arenon-derivative financial assetswith fixed or determinablepayments and fixed maturitiesthat the Group has the positiveintention and ability to hold tomaturity, except for:

(a) investasi yang pada saatpengakuan awal ditetapkansebagai aset keuangan yangdiukur pada nilai wajarmelalui laporan laba rugi;

(a) investments that upon initialrecognition are designated asfinancial assets at fair valuethrough profit or loss;

(b) investasi yang ditetapkan olehentitas dalam kelompoktersedia untuk dijual; dan

(b) investments that aredesignated in the category ofavailable-for-sale, and

(c) investasi yang memenuhidefinisi pinjaman danpiutang.

(c) investments that meet thedefinition of loans andreceivables.

1p64 Mereka dimasukkan di dalam asettidak lancar kecuali investasinyajatuh tempo atau manajemenbermaksud untuk melepasnyadalam waktu 12 bulan dari akhirtahun pelaporan.

They are included in non-currentassets unless the investmentmatures or management intendsto dispose of them within 12months of the end of the reportingyear.

p5546 Investasi yang dimiliki hinggajatuh tempo pada awalnya diakuisebesar nilai wajar termasukbiaya transaksi yang dapatdiatribusikan secara langsung dankemudian diukur pada biayaperolehan diamortisasi denganmenggunakan metode suku bungaefektif.

Held-to-maturity investments areinitially recognised at fair valueincluding directly attributabletransaction costs andsubsequently carried atamortised cost using the effectiveinterest method.

60p21(b) Bunga dari investasi tersebutyang dihitung denganmenggunakan metode suku bungaefektif diakui didalam laba rugisebagai bagian dari “pendapatankeuangan”.

Interest on investments calculatedusing the effective interest methodis recognised in profit or loss aspart of “finance income”.






BR-451p116






BR-13 (iii) Pinjaman dan piutang (iii) Loans and receivables

55p8BR-131p64BR-20

Pinjaman dan piutang adalahaset keuangan nonderivatifdengan pembayaran tetap atautelah ditentukan dan tidakmempunyai kuotasi di pasaraktif. Mereka dimasukkansebagai aset lancar kecuali untukyang jatuh temponya lebih dari12 bulan setelah akhir tahunpelaporan. Aset keuangan inidiklasifikasikan sebagai asettidak lancar.

Loans and receivables arenon-derivative financial assetswith fixed or determinablepayments that are not quoted inan active market. They areincluded in current assets, exceptfor those with maturities greaterthan 12 months after the end ofthe reporting year. These areclassified as non-current assets.

Pinjaman dan piutang padaawalnya diakui sebesar nilaiwajar termasuk biaya transaksiyang dapat diatribusikan secaralangsung dan kemudian diukursebesar biaya perolehandiamortisasi menggunakanmetode suku bunga efektif.

Loans and receivables areinitially recognised at fair valueincluding directly attributabletransaction costs andsubsequently carried atamortised cost using the effectiveinterest method.

Pinjaman dan piutang Grupterdiri dari kas dan setara kas,piutang usaha dan asset tidaklancar lainnya.

The Group’s loans and receivablescomprise cash and cashequivalents, trade receivables andother non-current assets.

BR-13 (iv) Aset keuangan tersedia untukdijual

(iv) Available-for-sale financial assets

55p8BR-13

1p64BR-20

Aset keuangan tersedia untukdijual adalah aset keuangannonderivatif yang ditetapkansebagai tersedia untuk dijual atauyang tidak diklasifikasikan padakategori yang lain. Merekadiklasifikasikan dalam aset tidaklancar kecuali investasinya jatuhtempo atau manajemenbermaksud untuk melepasnyadalam waktu 12 bulan setelahakhir periode pelaporan.

Available-for-sale financial assetsare non-derivative financialassets that are either designatedas available-for-sale or that arenot classified in any othercategories. They are included innon-current assets unless theinvestment matures ormanagement intends to dispose ofthem within 12 months of the endof the reporting period.






BR-451p116






BR-13 (iv) Aset keuangan tersedia untukdijual (lanjutan)

(iv) Available-for-sale financial assets(continued)

55p43

55p4655p62(b)

55p74OR-77

Aset keuangan tersedia untukdijual pada awalnya diakuisebesar nilai wajar, ditambahbiaya transaksi yang dapatdiatribusikan secara langsung.Setelah pengakuan awal, asetkeuangan tersebut diukursebesar nilai wajar, dimanakeuntungan atau kerugian diakuidalam pendapatan komprehensiflainnya, kecuali untuk kerugianakibat penurunan nilai dankeuntungan atau kerugian akibatperubahan nilai tukar, sampaiaset keuangan tersebutdihentikan pengakuannya. Jikaaset keuangan tersedia untukdijual telah dijual ataumengalami penurunan nilai,maka akumulasi keuntunganatau kerugian yang sebelumnyatelah diakui sebagai pendapatankomprehensif lainnya dalamekuitas, diakui dalam laba rugisebagai keuntungan dankerugian atas investasi padaefek-efek.

Available-for-sale financial assetsare initially recognised at fairvalue, including directlyattributable transaction costs.Subsequently, the financial assetsare carried at fair value, withgains or losses recognised inother comprehensive income,except for impairment losses andforeign exchange gains or losses,until the financial assets arederecognised. If the available-for-sale financial assets are sold orimpaired, the cumulative gains orlosses previously recognised inother comprehensive incomewithin equity, are recognised inprofit or loss as gains or losses oninvestment securities.

60p21(b) Bunga atas efek tersedia untukdijual yang dihitung denganmetode suku bunga efektifdiakui dalam laba rugi sebagaibagian dari “pendapatankeuangan”. Dividen atasinstrumen ekuitas yang tersediauntuk dijual diakui dalam labarugi sebagai bagian dari “bebanlain-lain, neto” pada saat hakGrup untuk menerimapembayaran tersebut ditetapkan.

Interest on available-for-salesecurities calculated using theeffective interest method isrecognised in profit or loss aspart of “finance income”.Dividends on available-for-saleequity instruments arerecognised in profit or loss aspart of “other expenses, net” whenthe Group’s right to receivepayment is established.






BR-451p116

2. IKHTISAR KEBIJAKAN AKUNTANSIPENTING (lanjutan)



b. Penghentian pengakuan b. Derecognition

55p17 Aset keuangan dihentikanpengakuannya ketika hak untukmenerima arus kas dari investasitersebut telah jatuh tempo atau telahditransfer dan Grup telah mentransfersecara substansial seluruh risiko danmanfaat atas kepemilikan aset.

Financial assets are derecognisedwhen the right to receive cash flowsfrom the investments have expired orhave been transferred and the Grouphas transferred substantially all of therisks and rewards of ownership.

c. Saling hapus antar instrumenkeuangan

c. Offsetting financial instruments

55p74BR-77

Aset keuangan dan liabilitaskeuangan saling hapus dan nilainetonya disajikan dalam laporanposisi keuangan konsolidasian jikaterdapat hak yang dapat dipaksakansecara hukum untuk melakukansaling hapus atas jumlah yang telahdiakui tersebut dan terdapat maksuduntuk menyelesaikan secara neto atauuntuk merealisasikan aset danmenyelesaikan liabilitas secarabersamaan.

Financial assets and liabilities areoffset and their net amounts arereported in the consolidatedstatements of financial position whenthere is a legally enforceable right tooffset the recognised amounts andthere is an intention to settle on a netbasis, or realise the asset and settle theliability simultaneously.

2.5 Penurunan nilai aset keuangan 2.5 Impairment of financial assets

55p65BR-14

Pada setiap akhir periode pelaporan, Grupmenilai apakah terdapat bukti objektifbahwa aset keuangan atau kelompok asetkeuangan telah mengalami penurunannilai. Aset keuangan atau kelompok asetkeuangan diturunkan nilainya dankerugian penurunan nilai terjadi hanyajika terdapat bukti objektif bahwapenurunan nilai merupakan akibat darisatu atau lebih peristiwa yang terjadisetelah pengakuan awal aset (“peristiwakerugian”) dan peristiwa kerugian (atauperistiwa) tersebut memiliki dampak padaestimasi arus kas masa datang atas asetkeuangan atau kelompok aset keuanganyang dapat diestimasi secara andal.

At the end of each reporting period,the Group assesses whether there isobjective evidence that a financialasset or group of financial assets isimpaired. A financial asset or group offinancial assets is impaired andimpairment losses are incurred only ifthere is objective evidence ofimpairment as a result of one or moreevents that occurred after the initialrecognition of the asset (a “loss event”)and that loss event (or events) has animpact on the estimated future cashflows from the financial asset or groupof financial assets that can be reliablyestimated.

55p66 Bukti penurunan nilai termasuk indikasibahwa debitur atau kelompok debitursedang mengalami kesulitan keuangansignifikan, terjadi wanprestasi atautunggakan pembayaran pokok atau bunga,terdapat kemungkinan bahwa debiturakan dinyatakan pailit atau melakukanreorganisasi keuangan lainnya, dandimana data yang dapat diobservasimengindikasikan adanya penurunan yangdapat diukur atas estimasi arus kas masadepan, seperti perubahan dalamtunggakan atau kondisi ekonomi yangberkorelasi dengan wanprestasi.

Evidence of impairment may includeindications that the debtor or group ofdebtors is experiencing significantfinancial difficulty, default ordelinquency in interest or principalpayments, the probability that theywill enter bankruptcy or otherfinancial reorganisation, and whereobservable data indicates that there isa measurable decrease in theestimated future cash flows, such aschanges in arrears or economicconditions that correlate with defaults.






BR-451p116



2.5 Penurunan nilai aset keuangan(lanjutan)

2.5 Impairment of financial assets(continued)

(a) Aset dicatat sebesar harga perolehandiamortisasi

(a) Assets carried at amortised cost

55p7055PA100BR-47

Untuk kategori pinjaman yangdiberikan dan piutang, jumlahkerugian diukur sebesar selisih antaranilai tercatat aset dan nilai kini dariestimasi arus kas masa datangdiestimasi (tidak termasuk kerugiankredit masa depan yang belum terjadi)yang didiskonto menggunakan sukubunga efektif awal dari aset tersebut.Nilai tercatat aset dikurangi danjumlah kerugian diakui dalam labarugi. Jika pinjaman yang diberikanmemiliki tingkat bunga mengambang,tingkat diskonto yang digunakanuntuk mengukur kerugian penurunannilai adalah tingkat suku bunga efektifsaat ini yang ditentukan dalamkontrak. Untuk alasan praktis, Grupdapat mengukur penurunan nilaiberdasarkan nilai wajar instrumendengan menggunakan harga pasaryang dapat diobservasi.

For the loans and receivablescategory, the amount of the loss ismeasured as the difference betweenthe asset’s carrying amount and thepresent value of the estimated futurecash flows (excluding future creditlosses that have not been incurred)discounted at the financial asset’soriginal effective interest rate. Thecarrying amount of the asset isreduced, and the amount of the lossis recognised in profit or loss. If aloan has a floating interest rate, thediscount rate for measuring anyimpairment loss is the currenteffective interest rate determinedunder the contract. As a practicalexpedient, the Group may measureimpairment on the basis of aninstrument’s fair value using anobservable market price.

55p72BR-47

Jika, pada periode selanjutnya, jumlahpenurunan nilai menurun danpenurunan tersebut dapatdihubungkan secara objektif denganperistiwa yang terjadi setelahpenurunan nilai diakui (misalnyameningkatnya peringkat kreditdebitur), pemulihan atas jumlahpenurunan nilai yang telah diakuisebelumnya diakui dalam laba rugi.

If, during a subsequent period, theamount of the impairment lossdecreases and the decrease can berelated objectively to an eventoccurring after the impairment wasrecognised (such as an improvementin the debtor’s credit rating), thereversal of the previously recognisedimpairment loss is recognised inprofit or loss.






BR-451p116



2.5 Penurunan nilai aset keuangan(lanjutan)

2.5 Impairment of financial assets(continued)

(b) Aset diklasifikasikan sebagaitersedia untuk dijual

(b) Assets classified as available-for-sale

55p7455p75BR-47

55p76

Untuk investasi pada instrumenekuitas yang diklasifikasikan sebagaitersedia untuk dijual, penurunan nilaiwajar efek yang signifikan danberkepanjangan di bawah hargaperolehan dapat dianggap sebagaiindikator bahwa aset tersebutmengalami penurunan nilai. Jikaterdapat bukti yang objektif ataspenurunan nilai aset keuangantersedia untuk dijual, kerugiankumulatif diukur sebagai selisihantara harga perolehan akuisisi dannilai wajar kini, dikurangi kerugianpenurunan nilai atas aset keuangantersebut yang sebelumnya diakuipada laba rugi – dipindahkan dariekuitas dan diakui pada laba rugi.Kerugian penurunan nilai instrumenekuitas yang diakui pada laporan labarugi tidak dapat dipulihkan melaluilaporan laba rugi.

In the case of equity investmentsclassified as available-for-sale, asignificant or prolonged decline in thefair value of the security below its costis also an evidence that the assets areimpaired. If there is objective evidenceof the impairment of available-for-salefinancial assets, the cumulative loss ismeasured as the difference between theacquisition cost and the current fairvalue, less any impairment loss on thatfinancial asset previously recognised inprofit or loss - is removed from equityand recognised in profit or loss.Impairment losses recognised in theprofit or loss on equity instruments arenot reversed through profit or loss.

55p77 Jika, pada periode berikutnya, nilaiwajar instrumen utang yangdiklasifikasikan sebagai tersediauntuk dijual meningkat danpeningkatannya dapat dihubungkansecara objektif dengan peristiwasetelah penurunan nilai diakui padalaba rugi, kerugian penurunan nilaidipulihkan melalui laba rugi.

If, in a subsequent period, the fair valueof a debt instrument classified asavailable for sale increases and theincrease can be objectively related toan event occurring after theimpairment loss was recognised inprofit or loss, the impairment loss isreversed through profit or loss.

BR-47 2.6 Kas dan setara kas 2.6 Cash and cash equivalents

2p52p62p7BR-20BR-2160p22

2p9BR-39

Kas dan setara kas mencakup kas, kas dibank, deposito pada lembaga keuangandengan jangka waktu tiga bulan ataukurang pada saat penempatan yang tidakdigunakan sebagai jaminan atau tidakdibatasi penggunaannya, dan investasisangat likuid jangka pendek lainnyadengan jangka waktu tiga bulan ataukurang yang tidak mengalami risikoperubahan nilai yang signifikan.

Laporan arus kas konsolidasian disusundengan menggunakan metode langsungyang mengelompokkan arus kas ke dalamaktivitas operasi, investasi danpendanaan. Untuk tujuan laporan aruskas konsolidasian, kas dan setara kasdisajikan setelah dikurangi cerukan.

Cash and cash equivalents include cash onhand, cash in banks, deposits withfinancial institutions with maturityperiods of three months or less at the timeof placement which are not used ascollateral or are not restricted, and othershort-term highly liquid investments withoriginal maturities of three months or lesswhich are subject to an insignificant riskof change in value.

The consolidated statements of cash floware prepared based on the direct methodby classifying cash flows on the basis ofoperating, investing and financingactivities. For the purpose of theconsolidated statements of cash flows,cash and cash equivalents are presentednet of overdrafts.






BR-451p116



BR-47 2.7 Piutang usaha dan piutangnonusaha

2.7 Trade and non-trade receivables

BR-2160p22

1p64BR-20

Piutang usaha merupakan jumlahterutang dari pelanggan atas penjualanbatubara atau jasa yang diberikan dalamkegiatan usaha biasa. Jika piutangdiperkirakan tertagih dalam waktu satutahun atau kurang, piutang tersebutdiklasifikasikan sebagai aset lancar. Jikatidak, piutang tersebut disajikan sebagaiaset tidak lancar.

Trade receivables are amounts due fromcustomers for coal sold or servicesperformed in the ordinary course ofbusiness. If collection is expected in oneyear or less, they are classified as currentassets. If not, they are presented as non-current assets.

BR-2260p22

Piutang nonusaha pihak berelasimerupakan jumlah terutang dari pihakberelasi yang timbul dari transaksi di luarkegiatan usaha biasa. Seluruh piutangnonusaha pihak berelasi disajikan sebagaiaset tidak lancar tanpamempertimbangkan perkiraan periodetertagihnya.

Non-trade receivables from related partiesare amounts due from related partiesarising from transactions outside of theordinary course of business. All non-tradereceivables from related parties arepresented as non-current assets withoutconsidering the expected collection period.

55p4355p46BR-13

Piutang usaha dan piutang nonusaha padaawalnya diakui sebesar nilai wajar danselanjutnya diukur pada biaya perolehandiamortisasi dengan menggunakanmetode suku bunga efektif, apabiladampak pendiskontoan signifikan,dikurangi provisi atas penurunan nilai.

Trade and non-trade receivables arerecognised initially at fair value andsubsequently measured at amortised costusing the effective interest method, if theimpact of discounting is significant, lessany provision for impairment.

BR-48 2.8 Persediaan 2.8 Inventories

14p914p35(a)14p2314p1214p1514p27BR-21

26p7

Persediaan batubara dinilai berdasarkannilai terendah antara harga perolehanatau nilai realisasi neto. Harga perolehanditentukan dengan metode rata-ratatertimbang yang mencakup biayapenambangan, komponen biaya tenagakerja langsung, biaya langsung lainnya,dan alokasi bagian biaya tidak langsungvariabel dan tetap yang berkaitan dengankegiatan penambangan. Biaya tersebuttidak termasuk biaya pinjaman. Nilairealisasi bersih adalah estimasi hargajual dalam kegiatan usaha biasadikurangi estimasi biaya penyelesaiandan estimasi biaya yang diperlukanuntuk membuat penjualan.

Coal inventories are stated at the lower ofcost or net realisable value. Cost isdetermined based on the weighted averagemethod which includes mining costs, directlabor costs, other direct costs and anappropriate portion of fixed and variableoverheads related to the mining operations.It excludes borrowing costs. The netrealisable value is the estimated sellingprice in the ordinary course of business lessthe estimated costs of completion and theestimated costs necessary to make the sale.

Guidance notes:Based on BR-22, non-trade receivables from related parties are presented as non-current assets. Presentation ascurrent assets is allowed only if it can be proved that they will be realised within twelve months and the reason for thispresentation should be disclosed.






BR-451p116



BR-48 2.8 Persediaan (lanjutan) 2.8 Inventories (continued)

14p914p35(a)14p1114p27BR-21

26p7

Persediaan suku cadang, bahan bakar,minyak pelumas, perlengkapan danbahan pendukung dinilai dengan hargaperolehan dikurangi provisi persediaanusang dan bergerak lambat. Hargaperolehan ditentukan dengan metoderata-rata tertimbang. Provisi persediaanusang dan bergerak lambat ditentukanberdasarkan estimasi penggunaan ataupenjualan masing-masing jenispersediaan pada masa mendatang. Bahanpendukung kegiatan pemeliharaandicatat sebagai beban produksi padatahun digunakan.

Spare parts, fuel, lubricants, tools andsupplies are valued at cost less a provisionfor obsolete and slow moving inventory.Cost is determined based on the weightedaverage method. A provision for obsoleteand slow moving inventory is determinedon the basis of the estimated future usageor sales of individual inventory items.Supplies of maintenance materials arecharged to production costs in the year inwhich they are used.

BR-48 2.9 Aset tetap 2.9 Property, plant and equipment

16p59BR-48

Hak atas tanah diakui sebesar hargaperolehan dan tidak disusutkan, kecualitanah tersebut memenuhi salah satukriteria berikut:

- Manajemen berpendapat bahwakondisi kualitas tanah dalam waktutertentu tidak layak lagi untukdigunakan dalam operasi utamaGrup.

- Sifat operasi utama adalah denganmeninggalkan tanah pada saatproyek/aktivitas selesai.

- Kebijakan dari pemerintah yangakan memanfaatkan tanah untukkepentingan publik sehinggakemungkinan besar perpanjanganhak atas tanah tidak akan diperoleh.

Bila kasusnya demikian, hak atas tanahdisusutkan menggunakan metode garislurus selama masa manfaat tanah sebagaiberikut:

- Jangka waktu penggunaan asettanah yang diharapkan dapatdicapai; atau

- Jangka waktu jumlah unit produksiyang diharapkan dapat dihasilkanoleh suatu aset tanah; atau

- Masa berlakunya hak, bila hak tidakdapat diperbaharui ataudiperpanjang dan masa berlaku haklebih pendek dari jangka waktujumlah unit produksi atau jangkawaktu penggunaan aset tanah.

Land rights are recognised at cost and notdepreciated, unless the land meets any ofthe following criteria:

- Management is of the opinion that thequality of the land’s condition after acertain year is no longer sufficient forit to be utilised for the Group’s mainoperations.

- The main characteristic of theoperation is to abandon the land afterthe completion of the project/activity.

- The government’s policy which willutilise the land for the public interest,and it is highly probable that anextension of the land rights will not beobtained.

In such cases, land rights are depreciatedusing the straight line method over theexpected useful life of land rights asfollows:

- The year of land utilisation that isexpected to be achieved; or

- The year of expected productivity ofthe land; or

- The year of rights, if the rights cannotbe renewed or extended and the termof the rights is shorter than the years ofland utilisation or the years of expectedproductivity of land.






BR-451p116



BR-48 2.9 Aset tetap (lanjutan) 2.9 Property, plant and equipment(continued)

16p11I25p10I25p11

Biaya hukum awal untuk mendapatkanhak legal diakui sebagai bagian biayaakuisisi tanah, biaya-biaya tersebut tidakdidepresiasikan. Biaya terkait denganpembaruan hak atas tanah diakui sebagaiaset takberwujud dan diamortisasisepanjang umur kontraktual hak atastanah.

Initial legal costs incurred to obtain legalrights are recognised as part of theacquisition cost of the land, and these costsare not depreciated. Costs related to therenewal of land rights are recognised asintangible assets and amortised over thecontractual life of the land rights.

Pada awalnya, semua aset tetap diakuisebesar harga perolehan dan setelahnyadicatat sebesar harga perolehan dikurangiakumulasi penyusutan dan akumulasikerugian penurunan nilai. Aset tetapdisusutkan menggunakan metode garislurus selama periode yang lebih rendahantara estimasi masa manfaat aset, umurtambang atau masa hak tambang untukusaha pertambangan dan selama estimasimasa manfaatnya untuk usaha lain selainpertambangan sebagai berikut:

Property, plant and equipment areinitially recognised at cost andsubsequently carried at cost lessaccumulated depreciation andaccumulated impairment losses. Property,plant and equipment are depreciated usingthe straight line method to their residualvalues over the lesser of the expected usefullives, the life of the mine or the miningrights for the mining business, and overtheir estimated useful lives for businessesother than mining, as follow:

BR-48 Bangunan 20 tahun/years BuildingsFasilitas infrastruktur 10-15 tahun/years Infrastructure facilitiesKendaraan dan mesin 4-8 tahun/years Vehicles and machineryPeralatan proyek 4 tahun/years Project equipmentPeralatan tambang 4 tahun/years Mining equipment

16p7BR-4816p74(a)

16p12

Biaya-biaya setelah pengakuan awaldiakui sebagai bagian nilai tercatat asetatau sebagai aset yang terpisah,sebagaimana mestinya, hanya jikakemungkinan besar Grup mendapatmanfaat ekonomis di masa depanberkenaan dengan aset tersebut dan biayaperolehan aset dapat diukur denganandal. Nilai tercatat dari komponen yangdiganti dihapuskan. Biaya perbaikan danpemeliharaan dibebankan ke dalam labarugi dalam periode keuangan ketikabiaya-biaya tersebut terjadi.

Subsequent costs are included in theasset’s carrying amount or recognised asa separate asset, as appropriate, onlywhen it is probable that future economicbenefits associated with the item willflow to the Group, and the cost of theitem can be measured reliably. Thecarrying amounts of replaced part isderecognised. All other repairs andmaintenance are charged to profit orloss during the financial period in whichthey are incurred.

BR-48 Nilai sisa aset, masa manfaat dan metodepenyusutan ditelaah dan jika diperlukan,setidaknya disesuaikan, pada setiap akhirtahun buku.

The assets’ residual values, useful livesand depreciation method are reviewedand adjusted if appropriate, at the endof the financial year.






BR-451p116



BR-48 2.9 Aset tetap (lanjutan) 2.9 Property, plant and equipment(continued)

Nilai tercatat aset tetap yang tidakdigunakan lagi atau dijual, dikeluarkandari laporan keuangan konsolidasian, dankeuntungan dan kerugian yang timbulakibat pelepasan aset tetap tersebutdiakui dalam laba rugi.

For assets which are no longer utilised orsold, the carrying amounts are eliminatedfrom the consolidated financial statementsand the resulting gains and losses ondisposals of property, plant andequipment are recognised in profit or loss.

BR-12 Nilai tercatat aset segera diturunkansebesar jumlah yang dapat dipulihkanjika nilai tercatat aset lebih besar dariestimasi jumlah yang dapat dipulihkan(Catatan 2.15).

An asset’s carrying amount is writtendown immediately to its recoverableamount if the asset’s carrying amount isgreater than its estimated recoverableamount (Note 2.15).

BR-4816p22

Akumulasi biaya konstruksi bangunan,fasilitas produksi dan pemasangan mesindikapitalisasi sebagai aset dalampenyelesaian. Biaya tersebutdireklasifikasi ke akun aset tetap padasaat proses konstruksi atau pemasanganselesai. Penyusutan dimulai pada saataset tersebut siap untuk digunakan sesuaidengan tujuan yang diinginkanmanajemen.

The accumulated costs of the constructionof buildings, production facilities and theinstallation of machinery are capitalisedas construction in progress. These costsare reclassified to property, plant andequipment when the construction orinstallation is complete. Depreciation ischarged from the date on which the assetsare ready for use in the manner intendedby management.

BR-49 2.10 Sewa 2.10 Leases

BR-49 Penentuan apakah suatu perjanjianmerupakan, atau mengandung, sewadibuat berdasarkan substansi perjanjianitu sendiri dan penilaian apakahpemenuhan atas perjanjian bergantungdari penggunaan aset atau aset-asettertentu, dan apakah perjanjianmemberikan hak untuk menggunakanaset.

The determination of whether anarrangement is, or contains, a lease ismade based on the substance of thearrangement and assessment of whetherthe fulfilment of the arrangement isdependent on the use of a specific asset orassets, and the arrangement conveys aright to use the asset.

30p8BR-49BR-5030p32

Sewa dimana porsi signifikan risiko danmanfaat kepemilikan aset dipertahankanoleh lessor diklasifikasikan sebagai sewaoperasi. Pembayaran sewa operasi(dikurangi insentif yang diterima darilessor) dibebankan dalam laba rugimenggunakan metode garis lurus selamaperiode sewa.

Leases in which a significant portion of therisks and rewards of ownership areretained by the lessor are classified asoperating leases. Payments made underoperating leases (net of any incentivesreceived from the lessor) are charged toprofit or loss on a straight line basis overthe term of the lease.






BR-451p116



BR-49 2.10 Sewa (lanjutan) 2.10 Leases (continued)

30p8

BR-4930p19

Grup menyewa aset tetap tertentu. Sewaaset tetap dimana Grup memiliki secarasubstansial seluruh risiko dan manfaatkepemilikan aset diklasifikasikan sebagaisewa pembiayaan. Sewa pembiayaandikapitalisasi pada awal masa sewasebesar nilai yang lebih rendah antaranilai wajar aset sewaan atau nilai kinipembayaran sewa minimum. Kewajibansewa yang terkait, dikurangi denganbeban keuangan, dimasukkan ke dalam“utang sewa pembiayaan”.

The Group leases certain property, plantand equipment. Leases of property, plantand equipment where the Group hassubstantially all of the risks and rewardsof ownership are classified as financeleases. Finance leases are capitalised fromthe lease’s commencement at the lower ofthe fair value of the leased asset or thepresent value of the minimum leasepayments. The corresponding rentalobligations, net of finance charges, areincluding in “finance lease payables”.

30p24BR-49BR-5030p23

Setiap pembayaran sewa dialokasikanantara utang dan beban keuangan.Elemen bunga dari beban keuangandibebankan pada laba rugi selamaperiode sewa sehingga menghasilkantingkat bunga periodik yang konstanuntuk saldo utang yang tersisa padasetiap periode.

Each lease payment is allocated betweenthe payables and finance charges. Theinterest element of the finance cost ischarged to profit or loss over the leaseperiod so as to produce a constantperiodic rate of interest on the remainingbalance of the payables for each period.

Aset tetap yang diperoleh melalui sewapembiayaan disusutkan selama jangkawaktu yang lebih pendek antara masamanfaat aset dan masa sewa.

Property, plant and equipment acquiredunder finance leases are depreciated overthe shorter of the useful life of the assetand the lease term.

BR-47 2.11 Aset eksplorasi dan evaluasi 2.11 Exploration and evaluation assets

Aktivitas eksplorasi dan evaluasi meliputipencarian sumber daya mineral setelahGrup memperoleh hak hukum untukmengeksplorasi suatu wilayah tertentu,penentuan kelayakan teknis, danpenilaian komersial atas sumber dayamineral spesifik.

Exploration and evaluation activityinvolves the search for mineral resourcesafter the Group has obtained legal rightsto explore in a specific area, determinationof the technical feasibility and assessmentof the commercial viability of an identifiedresource.

64p09 Pengeluaran eksplorasi dan evaluasimeliputi biaya yang berhubunganlangsung dengan:

Exploration and evaluation expenditurecomprise costs that are directlyattributable to:

- Perolehan hak untuk eksplorasi - Acquisition of rights to explore- Kajian topografi, geologi, geokimia,

dan geofisika- Topographical, geological, geochemical

and geophysical studies- Pengeboran eksplorasi - Exploratory drilling- Pemaritan dan pengambilan contoh,

dan- Trenching and sampling, and

- Aktivitas yang terkait denganevaluasi kelayakan teknis dankomersial atas penambangansumber daya mineral.

- Activities involved in evaluating thetechnical feasibility and commercialviability of extracting mineralresources.






BR-451p116



BR-47 2.11 Aset eksplorasi dan evaluasi(lanjutan)

2.11 Exploration and evaluation assets(continued)

Biaya eksplorasi dan evaluasi yangberhubungan dengan suatu area ofinterest dibebankan pada saat terjadinyakecuali biaya tersebut dikapitalisasi danditangguhkan, berdasarkan area ofinterest, apabila memenuhi salah satudari ketentuan berikut ini:

Exploration and evaluation expenditurerelated to an area of interest is written offas incurred, unless they are capitalisedand carried forward, on an area of interestbasis, provided that one of the followingconditions is met:

(i) Hak untuk mengeksplorasi danmengevaluasi suatu area masihberlaku dan biaya –biaya yang telahdikeluarkan tersebut diharapkandapat diperoleh kembali melaluikeberhasilan pengembangan danekploitasi area of interest tersebutatau melalui penjualan area ofinterest tersebut, atau

(i) The rights of tenure of an area arecurrent and it is considered probablethat the costs will be recoupedthrough successful development andexploitation of the area of interest or,alternatively, by its sale, or

(i) Kegiatan ekplorasi dalam area ofinterest tersebut belum mencapaitahap yang memungkinkanpenentuan adanya cadanganterbukti yang secara ekonomis dapatdiperoleh, serta kegiatan yang aktifdan signifikan dalam atauberhubungan dengan area ofinterest tersebut masih berlanjut.

(ii) Exploration activities in the area ofinterest have not yet reached the stagewhich would permit a reasonableassessment of the existence orotherwise of economically recoverablereserves and active and significantoperations in or in relation to the areaof interest are continuing.

64p15 Biaya yang dikapitalisasi mencakupbiaya-biaya yang berkaitan langsungdengan aktivitas eksplorasi dan evaluasipada area of interest yang relevan, tidaktermasuk aset berwujud yang dicatatsebagai aset tetap. Biaya umum danadministrasi dialokasikan sebagai aseteksplorasi atau evaluasi hanya jika biayatersebut berkaitan langsung denganaktivitas operasional pada area ofinterest yang relevan.

Capitalised costs include costs directlyrelated to exploration and evaluationactivities in the relevant area of interest,and exclude physical assets, which arerecorded in property, plant and equipment.General and administrative costs areallocated to an exploration or evaluationasset only to the extent that those costs canbe related directly to operational activitiesin the relevant area of interest.

Pengeluaran eksplorasi dan evaluasi yangdikapitalisasi dihapusbukukan ketikakondisi tersebut di atas tidak lagiterpenuhi.

Capitalised exploration and evaluationexpenditure is written off where the aboveconditions are no longer satisfied.

Aset eksplorasi dan evaluasiteridentifikasi yang diperoleh dalamsuatu kombinasi bisnis pada awalnyadiakui sebagai aset pada nilai wajar padasaat akusisi dan selanjutnya diukur padabiaya perolehan dikurangi kerugianpenurunan nilai. Pengeluaran eksplorasidan evaluasi yang terjadi setelahperolehan aset eksplorasi dalam suatukombinasi bisnis dicatat denganmengacu pada kebijakan akuntansi diatas.

Identifiable exploration and evaluationassets acquired in a business combinationare recognised initially as assets at fairvalue on acquisition, and subsequently atcost less impairment charges. Explorationand evaluation expenditure incurredsubsequently to the acquisition of anexploration asset in a businesscombination is accounted for in accordancewith the policy outlined above.






BR-451p116



BR-47 2.11 Aset eksplorasi dan evaluasi(lanjutan)

2.11 Exploration and evaluation assets(continued)

Oleh karena aset eksplorasi dan evaluasitidak tersedia untuk digunakan, makaaset tersebut tidak disusutkan.

As the exploration and evaluation asset isnot available for use, it is not depreciated.

64p20 Aset eksplorasi dan evaluasi diujipenurunan nilainya ketika fakta dankondisi mengindikasikan adanyapenurunan nilai. Aset eksplorasi danevaluasi juga diuji penurunan nilainyaketika terjadi penemuan cadangankomersial, sebelum aset tersebutditransfer ke “properti pertambangan –tambang dalam pengembangan”.

Exploration and evaluation assets areassessed for impairment if facts andcircumstances indicate that impairmentmay exist. Exploration and evaluationassets are also tested for impairment oncecommercial reserves are found, before theassets are transferred to “miningproperties - mines under development”.

Pengeluaran yang terjadi sebelum enitiasmemperoleh hak hukum untukmengeksplorasi suatu area spesifikdibiayakan pada saat terjadinya.

Expenditures incurred before the entityhas obtained the legal right to explore aspecific area are expensed as incurred.

BR-47 2.12 Properti pertambangan 2.12 Mining properties

Biaya pengembangan yang dikeluarkanoleh atau atas nama Grupdiakumulasikan secara terpisah untuksetiap area of interest pada saatcadangan terpulihkan yang secaraekonomis dapat diidentifikasi. Biayatersebut termasuk biaya yang dapatdiatribusikan secara langsung padakonstruksi tambang dan infrastrukturterkait, tidak termasuk biaya asetberwujud dan hak atas tanah yang dicatatsebagai aset tetap.

Development expenditure incurred by oron behalf of the Group is accumulatedseparately for each area of interest inwhich economically recoverable resourceshave been identified. Such expenditurecomprises costs directly attributable to theconstruction of a mine and the relatedinfrastructure and excludes physicalassets and land rights which are recordedas property, plant and equipment.

Ketika keputusan pengembangan telahdiambil, jumlah tercatat aset eksplorasidan evaluasi pada area of interesttertentu dipindahkan sebagai “tambangdalam pengembangan” pada akunproperti pertambangan dan digabungdengan pengeluaran biayapengembangan selanjutnya.

Once a development decision has beentaken, the carrying amount of theexploration and evaluation assets inrespect of the area of interest istransferred to “mines under development”within mining properties and aggregatedwith the subsequent developmentexpenditure.

“Tambang dalam pengembangan”direklasifikasi ke “tambang yangberproduksi” pada akun propertipertambangan pada akhir tahapkomisioning, ketika tambang tersebutmampu beroperasi sesuai denganmaksud manajemen.

“Mines under development” arereclassified as “mines in production”within mining properties at the end of thecommissioning phase, when the mine iscapable of operating in the mannerintended by management.






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BR-47 2.12 Properti pertambangan (lanjutan) 2.12 Mining properties (continued)

“Tambang dalam pengembangan” tidakdisusutkan sampai direklasifikasimenjadi “tambang yang berproduksi”.

No depreciation is recognised for “minesunder development” until they arereclassified as “mines in production’’.

Ketika timbul biaya pengembangan lebihlanjut atas properti pertambangansetelah dimulainya produksi, maka biayatersebut akan dicatat sebagai bagian dari“tambang yang berproduksi” apabilaterdapat kemungkinan besar tambahanmanfaat ekonomi masa depansehubungan dengan biaya tersebut akanmengalir ke Grup. Apabila tidak, biayatersebut dibebankan sebagai biayaproduksi.

When further development expenditure isincurred on a mining property after thecommencement of production, theexpenditure is carried forward as part of“mines in production” when it is probablethat additional future economic benefitsassociated with the expenditure will flowto the Group. Otherwise, such expenditureis classified as a cost of production.

“Tambang yang berproduksi” (termasukbiaya eksplorasi, evaluasi danpengembangan, serta pembayaran untukmemperoleh hak penambangan dansewa) diamortisasi denganmenggunakan metode unit produksi,dengan perhitungan terpisah yangdibuat untuk setiap area of interest.“Tambang yang berproduksi” dideplesimengunakan metode unit produksiberdasarkan cadangan terbukti dancadangan terduga.

“Mines in production” (includingreclassified exploration, evaluation anddevelopment expenditure, and paymentsto acquire mineral rights and leases) areamortised using the units-of-productionmethod, with separate calculations beingmade for each area of interest. “Mines inproduction” will be depleted using a units-of-production method on the basis ofproved and probable reserves.

Properti pertambangan teridentifikasiyang diperoleh melalui suatu kombinasibisnis pada awalnya diakui sebagai asetsebesar nilai wajarnya. Pengeluaranpengembangan yang terjadi setelahakuisisi properti pertambangan dicatatberdasarkan kebijakan akuntansi yangdijelaskan di atas.

Identifiable mining properties acquired ina business combination are initiallyrecognised as assets at their fair value.Development expenses incurredsubsequently to the acquisition of themining properties is accounted for inaccordance with the policy outlined above.

“Tambang dalam pengembangan” dan“tambang yang berproduksi” diujipenurunan nilainya dengan mengacupada kebijakan akuntansi pada Catatan2.15.

“Mines under development” and “mines inproduction” are tested for impairment inaccordance with the policy described inNote 2.15.






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BR-47 2.13 Biaya pengupasan lapisan tanah 2.13 Stripping costs

33p06BR-47

Biaya pengupasan lapisan tanahmerupakan biaya yang dikeluarkanuntuk membuang tanah penutup suatutambang. Biaya pengupasan lapisantanah yang terjadi pada tahappengembangan tambang sebelumdimulainya produksi diakui sebagaibiaya pengembangan tambang dan akandideplesi menggunakan metode unitproduksi berdasarkan cadangan terbuktidan cadangan terduga.

Stripping costs are the costs of removingoverburden from a mine. Stripping costsincurred in the development of a minebefore production commences arecapitalised as part of the cost ofdeveloping the mine, and are subsequentlydepleted using a unit-of-productionmethod on the basis of proved andprobable reserves.

33p07BR-47

Biaya pengupasan lapisan tanah lanjutanpada dasarnya dibebankan sebagai biayaproduksi berdasarkan rasio rata-rataumur tambang. Dalam keadaan dimananisbah kupas aktual tidak berbeda jauhdengan rasio umur tambang, biayapengupasan lapisan tanah yang terjadiselama tahun tersebut diakui sebagaibiaya produksi. Dalam hal nisbah kupasaktual jauh lebih besar dari rasio umurtambang, kelebihan biaya pengupasandicatat dalam laporan posisi keuangankonsolidasian sebagai biaya pengupasanlapisan tanah yang ditangguhkan. Biayapengupasan lapisan tanah yangditangguhkan akan dibebankan sebagaibiaya produksi pada periode dimananisbah kupas aktual jauh lebih kecil darirasio rata-rata umur tambang.

The ongoing stripping costs are normallyrecognised as production costs based onthe average life of mine ratio. In situationswhere the actual stripping ratio is notsignificantly different from the life of mineratio, the stripping costs incurred duringthe year are recognised as productioncosts. When the actual stripping ratio issignificantly higher than the life of mineratio, the excess stripping costs arerecorded in the consolidated statement offinancial position as deferred strippingcosts. These deferred costs are expensed asproduction costs in periods where theactual ratio is significantly lower than theaverage life of mine ratio.

33p07BR-47

Perubahan rata-rata rasio umur tambangmerupakan perubahan estimasi danditerapkan secara prospektif.

Changes in the average life of mine ratioare considered as changes in estimatesand are accounted for on a prospectivebasis.

33p0748p33BR-47

Biaya pengupasan lapisan tanah yangditangguhkan termasuk dalam basisbiaya aset dalam menentukan unitpenghasil kas untuk keperluan penilaianpenurunan nilai.

Deferred stripping costs are included inthe cost base of assets when determining acash generating unit for impairmentassessment purposes.

Guidance notes:The illustrative disclosures for the accounting policy in the event of early adoption of ISFAS 29 has been described inAppendix 1 of these illustrative consolidated financial statements.






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BR-49 2.14 Aset takberwujud 2.14 Intangible assets

(a) Goodwill (a) Goodwill

Goodwill timbul dari akuisisientitas anak dan merupakan selisihimbalan yang ditransfer terhadapkepemilikan dalam nilai wajar asetdan liabilitas teridentifikasi neto,dan liabilitas kontinjensi dan nilaiwajar kepentingan nonpengendalipada pihak diakuisisi.

Goodwill arises from the acquisitionof subsidiaries, and represents theexcess of the considerationtransferred over the interest in netfair value of the net identifiableassets, liabilities and contingentliabilities of the acquiree and the fairvalue of the non-controlling interestin the acquiree.

48p80 Untuk pengujian penurunan nilai,goodwill yang diperoleh dalamkombinasi bisnis dialokasikan padasetiap unit penghasil kas, ataukelompok unit penghasil kas, yangdiharapkan dapat memberikanmanfaat dari sinergi kombinasibisnis tersebut. Setiap unit ataukelompok unit yang memperolehalokasi goodwill menunjukkantingkat terendah dalam entitasyang goodwill-nya dipantau untuktujuan manajemen internal.Goodwill dipantau pada levelsegmen operasi.

For the purpose of impairmenttesting, goodwill acquired in abusiness combination is allocated toeach cash-generating units (“CGU”),or group of CGUs, that is expected tobenefit from the synergies of thecombination. Each CGU or group ofCGUs to which the goodwill isallocated represents the lowest levelwithin the entity at which goodwill ismonitored for internal managementpurposes. Goodwill is monitored atoperating segment level.

(b) Lisensi atas piranti lunak komputer (b) Computer software license

19p6719p56BR-49

Lisensi piranti lunak komputerdikapitalisasi sebesar biayaperolehan yang meliputi harga beli(dikurangi diskon dan rabat)dengan biaya langsung lainnyayang diatribusikan untukmenyiapkan aset untuk dapatdigunakan. Biaya yang terkaitdengan pemeliharaan perangkatlunak komputer diakui sebagaibeban pada saat terjadinya.

Acquired computer software licencesare initially capitalised at cost whichincludes the purchase prices (net ofany discounts and rebates) and otherdirectly attributable costs ofpreparing the asset for its intendeduse. Costs associated withmaintaining the computer softwareare recognised as expenses asincurred.






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BR-49 2.14 Aset takberwujud (lanjutan) 2.14 Intangible assets (continued)

(b) Lisensi atas piranti lunak computer(lanjutan)

(b) Computer software license(continued)

BR-4919p65

Lisensi piranti lunak komputerkemudian dicatat sebesar biayaperolehan dikurangi akumulasiamortisasi dan akumulasi rugipenurunan nilai. Biaya inidiamortisasi dalam laba rugimenggunakan metode garis lurusselama taksiran masa manfaatekonomis dari tiga sampai limatahun.

Computer software licences aresubsequently carried at cost lessaccumulated amortisation andaccumulated impairment losses.These costs are amortised to profit orloss using the straight line methodover their estimated useful lives ofthree to five years.

19p104 Periode amortisasi dan metodeamortisasi aset takberwujud selaingoodwill ditinjau minimum setiaptanggal laporan posisi keuangankonsolidasian. Dampak dari revisidiakui dalam laba rugi pada periodeterjadinya.

The amortisation period andamortisation method of intangibleassets other than goodwill arereviewed at least at each consolidatedstatement of financial position date.The effects of any revision arerecognised in profit or loss when thechanges arise.

BR-49 2.15 Penurunan nilai aset nonkeuangan 2.15 Impairment of non-financial assets

19p10719p108BR-25

48p17BR-1248p5948p6

48p18BR-49

Aset yang memiliki masa manfaat yangtidak terbatas – misalnya goodwill atauaset takberwujud yang belum siap untukdigunakan – tidak diamortisasi namundiuji penurunan nilainya setiap tahun,atau lebih sering apabila terdapatperistiwa atau perubahan pada kondisiyang mengindikasikan kemungkinanpenurunan nilai. Aset yang tidakdiamortisasi diuji ketika terdapat indikasibahwa nilai tercatatnya mungkin tidakdapat dipulihkan. Penurunan nilai diakuijika nilai tercatat aset melebihi jumlahterpulihkan. Jumlah terpulihkan adalahyang lebih tinggi antara nilai wajar asetdikurangi biaya untuk menjual dan nilaipakai aset. Dalam menentukan penurunannilai, aset dikelompokkan pada tingkatyang paling rendah dimana terdapat aruskas yang dapat diidentifikasi. Asetnonkeuangan selain goodwill yangmengalami penurunan nilai diuji setiaptanggal pelaporan untuk menentukanapakah terdapat kemungkinan pemulihanpenurunan nilai.

Assets that have an indefinite useful life –for example, goodwill or intangibleassets not ready for use – are not subjectto amortisation but tested annually forimpairment, or more frequently if eventsor changes in circumstances indicate thatthey might be impaired. Assets that aresubject to amortisation are reviewed forimpairment whenever events or changesin circumstances indicate that thecarrying amount may not berecoverable. An impairment loss isrecognised for the amount by which theasset’s carrying amount exceeds itsrecoverable amount. The recoverableamount is the higher of an asset’s fairvalue less costs to sell and value-in-use(“VIU”). For the purpose of assessingimpairment, assets are grouped at thelowest levels for which there areseparately identifiable cash flows. Non-financial assets other than goodwill thatsuffer impairment are reviewed forpossible reversal of the impairment ateach reporting date.






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BR-49 2.15 Penurunan nilai aset nonkeuangan(lanjutan)

2.15 Impairment of non-financial assets(continued)

48p10948p11448p119BR-49

Pemulihan rugi penurunan nilai, untukaset selain goodwill, diakui jika, danhanya jika, terdapat perubahan estimasiyang digunakan dalam menentukanjumlah terpulihkan aset sejak pengujianpenurunan nilai terakhir kali. Pembalikanrugi penurunan nilai tersebut diakuisegera dalam laba rugi. Pembalikan rugipenurunan nilai tersebut tidak bolehmengakibatkan nilai tercatat aset melebihibiaya perolehan disusutkan sebelumadanya pengakuan penurunan nilai padatanggal dilakukan pembalikan. Rugipenurunan nilai yang diakui atas goodwilltidak dibalik lagi.

Reversal of impairment losses for assetsother than goodwill would be recognisedif, and only if, there has been a change inthe estimates used to determine theasset’s recoverable amount since the lastimpairment test was carried out.Reversal of impairment losses will beimmediately recognised in profit or loss.The reversal should not result in thecarrying amount of an asset that exceedswhat the depreciated cost would havebeen had the impairment not beenrecognised at the date on which theimpairment was reversed. Impairmentlosses relating to goodwill would not bereversed.

BR-47 2.16 Utang usaha 2.16 Trade payables

BR-26

1p67

Utang usaha adalah kewajiban membayarbarang atau jasa yang telah diterimadalam kegiatan usaha normal daripemasok. Utang usaha diklasifikasikansebagai liabilitas jangka pendek apabilapembayarannya jatuh tempo dalam waktusatu tahun atau kurang. Jika tidak, utangtersebut disajikan sebagai liabilitas jangkapanjang.

Trade payables are obligations to pay forgoods or services that have been acquiredin the ordinary course of business fromsuppliers. Trade payables are classifiedas current liabilities if payment is duewithin one year or less. If not, they arepresented as non-current liabilities.

55p4355p47BR-16

Utang dagang pada awalnya diakuisebesar nilai wajar dan selanjutnya diukurpada biaya perolehan diamortisasi denganmenggunakan metode suku bunga efektif.

Trade payables are recognised initiallyat fair value and subsequently measuredat amortised cost using the effectiveinterest method.

BR-50 2.17 Provisi 2.17 Provisions

(a) Provisi reklamasi, pembongkaran,dan penutupan tambang

(a) Provision for mine reclamation,decommissioning and mine closure

Pemulihan, rehabilitasi, dan biayalingkungan yang berkaitan denganpemulihan atas area yang tergangguselama tahap produksi dibebankanpada beban pokok pendapatan padasaat kewajiban dari pemulihan atasarea yang terganggu tersebut timbulselama penambangan.

Restoration, rehabilitation andenvironmental expenditure to beincurred in relation to theremediation of areas disturbedduring the production phase arecharged to the cost of revenue whenthe obligation arising from thedisturbance occurs as extractionprogresses.






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BR-50 2.17 Provisi (lanjutan) 2.17 Provisions (continued)

(a) Provisi reklamasi, pembongkaran,dan penutupan tambang (lanjutan)

(a) Provision for mine reclamation,decommissioning and mine closure(continued)

Kewajiban ini diakui sebagai liabilitaspada saat timbulnya kewajibanhukum atau konstruktif yang berasaldari aktivitas yang telahdilaksanakan. Kewajiban ini diukurpada saat dan setelah pengakuansebesar nilai kini dari perkiraanpengeluaran yang diperlukan untukmenyelesaikan kewajiban denganmenggunakan tingkat diskontosebelum pajak yang mencerminkanpenilaian pasar kini atas nilai waktuuang dan risiko yang terkait dengankewajiban tersebut. Perubahan padapengukuran kewajiban yang timbulselama tahap produksi jugadibebankan sebagai beban pokokpendapatan, sementara peningkatankewajiban yang sehubungan denganberlalunya waktu diakui sebagai biayakeuangan.

These obligations are recognised asliabilities when a legal or constructiveobligation has arisen from activitieswhich have already been performed.This obligation is initially andsubsequently measured at the presentvalue of the expenditure expected tobe required to settle the obligationusing a pre-tax rate that reflectscurrent market assessments of thetime value of money and the risksspecific to the obligation. Changes inthe measurement of a liability whicharises during production are alsocharged to the cost of revenue, whilethe increase in the provision due tothe passage of time is recognised asfinance costs.

Provisi pembongkaran aset-asettambang dan kegiatan pasca tambangterkait beserta peninggalan danpembongkaran aset-aset berumurpanjang dibentuk sehubungandengan kewajiban hukum berkaitandengan penarikan aset tambangterkait dan aset berumur panjanglainnya termasuk pembongkaranbangunan, peralatan, sistem crushingdan handling, infrastruktur, danfasilitas lainnya yang berasal daripembelian, konstruksi ataupengembangan aset tersebut.Kewajiban ini diakui sebagai liabilitaspada saat timbulnya kewajibanhukum atau konstruktif yangberkaitan dengan penarikan sebuahaset, dengan pengukuran pada saatdan setelah pengakuan sebesar nilaikini dari perkiraan pengeluaran yangdiperlukan untuk menyelesaikankewajiban dengan menggunakantingkat diskonto sebelum pajak, yangmencerminkan penilaian pasar kiniatas nilai waktu uang dan risiko yangterkait dengan kewajiban tersebut.Biaya penarikan aset dalam jumlahyang setara dengan jumlah liabilitastersebut dikapitalisasi sebagai bagiandari aset terkait dan kemudiandisusutkan atau dideplesi selamamasa manfaat aset tersebut.Peningkatan kewajiban yangsehubungan dengan berlalunya waktudiakui sebagai biaya keuangan.

Provision for decommissioning ofmining assets and related postmining activities as well as theabandonment and decommissioningof other long-lived assets is providedfor the legal obligations associatedwith the retirement of mining relatedassets and other long lived assetsincluding the decommissioning ofsuch assets that resulted from theacquisition, construction ordevelopment of such assets. Theseobligations are recognised asliabilities when a legal orconstructive obligation in incurredwith respect to the retirement of anasset, with the initial and subsequentmeasurement of the obligation at thepresent value of the expenditurewhich is expected to be required tosettle the obligation using a pre-taxrate that reflects current marketassessments of the time value ofmoney and the risks specific to theobligation. An asset retirement costequivalent to these liabilities iscapitalised as part of the relatedasset’s carrying value and issubsequently depreciated or depletedover the asset’s useful life. Theincrease in these obligations due tothe passage of time is recognised asfinance costs.






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BR-50 2.17 Provisi (lanjutan) 2.17 Provisions (continued)

(a) Provisi reklamasi, pembongkaran,dan penutupan tambang (lanjutan)

(a) Provision for mine reclamation,decommissioning and mine closure(continued)

Perubahan dalam pengukurankewajiban purnaoperasi yang timbuldari perubahan estimasi waktu ataujumlah pengeluaran sumber dayaekonomis (contohnya: arus kas)yang diperlukan untukmenyelesaikan kewajiban tersebut,atau perubahan dalam tingkatdiskonto, akan ditambahkan padaatau dikurangkan dari, hargaperolehan aset yang bersangkutanpada tahun berjalan. Jumlah yangdikurangkan dari harga perolehanaset tidak boleh melebihi jumlahtercatatnya. Jika penurunan dalamliabilitas melebihi nilai tercatat aset,kelebihan tersebut segera diakuidalam laba rugi. Jika penyesuaiantersebut menghasilan penambahanpada harga perolehan aset, Grupakan mempertimbangkan apakahhal ini mengindikasikan bahwa nilaitercatat aset yang baru mungkintidak bisa dipulihkan secara penuh.Jika terdapat indikasi tersebut, Grupakan melakukan pengujianpenurunan nilai terhadap asettersebut dengan melakukan estimasiatas nilai yang dapat dipulihkan danakan mencatat kerugian daripenurunan nilai, jika ada.

The changes in the measurement ofdecommissioning obligations thatresult from changes in the estimatedtiming or amount of any outflow ofresources embodying economicbenefits (e.g. cash flow) required tosettle the obligations, or a change inthe discount rate will be added to ordeducted from, the cost of the relatedasset in the current year. The amountdeducted from the cost of the assetshould not exceed its carryingamount. If a decrease in the liabilityexceeds the carrying amount of theasset, the excess is recognisedimmediately in profit or loss. If theadjustment results in an addition tothe cost of an asset, the Group willconsider whether this is an indicationthat the new carrying amount of theasset may not be fully recoverable. Ifthere is any such indication, theGroup will test the asset forimpairment by estimating itsrecoverable amount and will recordimpairment loss incurred, if any.






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2.17 Provisi (lanjutan) 2.17 Provisions (continued)

(b) Provisi lain-lain (b) Other provisions

Provisi untuk biaya restrukturisasi,tuntutan hukum hal-hal yangberkaitan dengan lingkungan yangtidak berkaitan dengan penarikanaset, reklamasi dan penutupan areapertambangan, dan lainnya diakuiketika:• Grup memiliki kewajiban hukum

atau konstruktif saat kini sebagaiakibat dari peristiwa masa lalu

• Kemungkinan arus keluarsumber daya diperlukan untukmenyelesaikan kewajibantersebut, dan

• Jumlahnya dapat diestimasisecara andal.

Provisi restrukturisasi dapat meliputihal-hal seperti denda penghentianpembiayaan dan pembayaranpesangon pemutusan kontrak kerjakaryawan. Provisi tidak diakui untukkerugian operasional masa depan.

Jika terdapat sejumlah kewajibanserupa, maka kemungkinan aruskeluar untuk menyelesaikan kewajibantersebut ditentukan denganmempertimbangkan secarakeseluruhan kelompok kewajiban.Walaupun kemungkinan arus keluaruntuk setiap pos kewajiban tersebutkecil, dapat saja terdapat kemungkinanbesar dibutuhkan arus keluar sumberdaya untuk menyelesaikan kelompokkewajiban secara keseluruhan. Jika halitu terjadi, maka provisi harus diakui.

Provisi diukur pada nilai kini dariperkiraan pengeluaran yangdiperlukan untuk menyelesaikankewajiban dengan menggunakantingkat diskonto sebelum pajak, yangmencerminkan penilaian pasar kiniatas nilai waktu uang dan risiko yangterkait dengan kewajiban tersebut.Peningkatan provisi yang sehubungandengan berlalunya waktu diakuisebagai biaya keuangan.

Provisions for restructuring costs,legal claims, environmental issuesthat may not involve the retirementof an asset, reclamation and closureof mining areas and others arerecognised when:

• The Group has a present legal orconstructive obligation as aresult of past events

• It is probable that an outflow ofresources will be required tosettle the obligation, and

• The amount can be reliablyestimated.

Restructuring provisions maycomprise items such as leasetermination penalties and employeetermination payments. Provisionsare not recognised for futureoperating losses.

Where there are a number of similarobligations, the likelihood that anoutflow will be required in settlementis determined by considering theclass of obligations as a whole.Although the likelihood of an outflowbeing required for any one item maybe small, it may well be probablethat some outflow of resources willbe needed to settle the class ofobligations as a whole. If that is thecase, a provision is recognised.

Provision is measured at the presentvalue of the expenditure expected tobe required to settle the obligationusing a pre-tax rate that reflectscurrent market assessments of thetime value of money, and the risksspecific to the obligation. Increase inthe provision due to the passage oftime is recognised as a finance cost.






BR-451p116



BR-47 2.18 Pinjaman 2.18 Borrowings

55p4355p47BR-16

Pinjaman diakui pada awalnya sebesarnilai wajar, dikurangi dengan biayatransaksi yang terjadi. Pinjamankemudian dicatat sebesar biayaperolehan diamortisasi; selisih antarahasil perolehan (dikurangi dengan biayatransaksi) dan nilai penarikan diakuidalam laba rugi selama periode pinjamandengan menggunakan metode sukubunga efektif.

Borrowings are recognised initially attheir fair value, net of any transactioncosts incurred. Borrowings aresubsequently carried at amortised cost;any difference between the proceeds (netof transaction costs) and the redemptionvalue is recognised in profit or loss overthe year of the borrowing, using theeffective interest method.

1p67(d)BR-26

Pinjaman diklasifikasikan sebagailiabilitas jangka pendek kecuali Grupmemiliki hak tanpa syarat untukmenunda pembayaran liabilitas selamapaling tidak 12 bulan setelah tanggalpelaporan.

Borrowings are classified as currentliabilities unless the Group has anunconditional right to defer thesettlement of the liability for at least 12months after the reporting date.

BR-47 2.19 Biaya pinjaman 2.19 Borrowing costs

26p1BR-51

26p14

26p22

Biaya pinjaman baik yang secaralangsung ataupun tidak langsung dapatdiatribusikan dengan akuisisi,konstruksi atau produksi asetkualifikasian, dikapitalisasi sebagaibagian biaya perolehan aset tersebutsampai aset tersebut siap digunakanatau dijual. Untuk pinjaman yang dapatdiatribusi secara langsung pada suatuaset kualifikasian, jumlah yangdikapitalisasi adalah sebesar biayapinjaman yang terjadi selama tahunberjalan, dikurangi pendapataninvestasi jangka pendek dari pinjamantersebut. Untuk pinjaman yang tidakdapat diatribusi secara langsung padasuatu aset kualifikasian, jumlah biayapinjaman yang dikapitalisasi ditentukandengan mengalikan tingkat kapitalisasidengan pengeluaran untuk asetkualifikasian. Entitas menghentikankapitalisasi biaya pinjaman ketikasecara substansial seluruh aktivitasyang diperlukan untuk mempersiapkanaset kualifikasian telah selesai.

Semua biaya pinjaman lainnya diakuidalam laba rugi pada periode dimanabiaya-biaya tersebut terjadi.

Borrowing costs either directly orindirectly attributable to the acquisition,construction or production of a qualifyingasset are capitalised as part of the cost ofthe asset until such time as the asset issubstantially ready for their intended useor sale. For borrowings directlyattributable to a qualifying asset, theamount to be capitalised is determined asthe actual borrowing costs incurred duringthe year, less any income earned on thetemporary investment of such borrowings.For borrowings that are not directlyattributable to a qualifying asset, theamount to be capitalised is determined byapplying a capitalisation rate to theamount spent on the qualifying asset. Anentity shall cease capitalising borrowingcosts when substantially all of the activitiesnecessary to prepare the qualifying assetare complete.

All other borrowing costs are recognisedin profit or loss in the period in which theyare incurred.






BR-451p116



BR-47 2.20 Instrumen keuangan majemuk 2.20 Compound financial instruments

50P24BR-30

Instrumen keuangan majemuk yangditerbitkan oleh Grup terdiri dari obligasikonversi yang dapat dikonversi menjadisejumlah tetap modal saham pada saatjatuh tempo sesuai opsi pemegangnya.

Compound financial instruments issued bythe Group comprise convertible bonds thatcan be converted into a fixed number ofshare capital at the option of the holder atthe maturity date.

50PA36BR-30

50p41

Komponen liabilitas pada instrumenkeuangan majemuk diakui pada awalnyasebesar nilai wajar liabilitas yang serupayang tidak memiliki opsi konversiekuitas. Komponen ekuitas diakui padaawalnya sebesar selisih antara nilai wajarinstrumen keuangan majemuk secarakeseluruhan dan nilai wajar komponenliabilitas. Biaya transaksi yang dapatdiatribusikan secara langsungdialokasikan pada komponen liabilitasdan ekuitas sesuai dengan proporsi nilaitercatat awalnya.

The liability component of a compoundfinancial instrument is recognised initiallyat the fair value of a similar liability thatdoes not have an equity conversion option.The equity component is recognisedinitially as the difference between the fairvalue of the compound financialinstrument as a whole and the fair valueof the liability component. Any directlyattributable transaction costs areallocated to the liability and equitycomponents in proportion to their initialcarrying amounts.

Setelah pengakuan awal, komponenliabilitas dari instrumen keuanganmajemuk diukur pada biaya perolehandiamortisasi dengan menggunakanmetode suku bunga efektif. Komponenekuitas instrumen keuangan majemuktidak diukur kembali setelah pengakuanawal kecuali pada saat konversi ataujatuh tempo.

Subsequent to initial recognition, theliability component of a compoundfinancial instrument is measured atamortised cost using the effective interestmethod. The equity component of acompound financial instrument is notremeasured subsequent to initialrecognition except upon conversion ormaturity.

2.21 Modal saham 2.21 Share capital

BR-32 Saham biasa diklasifikasikan sebagaiekuitas.

Biaya langsung yang berkaitan denganpenerbitan saham baru disajikansebagai pengurang ekuitas, setelahdikurangi pajak, dari jumlah yangditerima.

Ordinary shares are classified as equity.

Incremental costs directly attributable tothe issuance of new shares are shown inequity as deduction, net of tax, from theproceeds.






BR-451p116



BR-50 2.22 Imbalan kerja 2.22 Employee benefits

(a) Kewajiban pensiun (a) Pension obligations

24p2524p724p2724p135(b)BR-50

24p27

Grup harus menyediakan imbalanpensiun dengan jumlah minimalberdasarkan Kontrak Kerja Bersama(“KKB”) atau berdasarkan Undang-Undang (“UU”) Ketenagakerjaan,mana yang lebih tinggi. Karena UUKetenagakerjaan atau KKBmenentukan rumus tertentu untukmenghitung jumlah minimalimbalan pensiun, pada dasarnya,program pensiun berdasarkan UUKetenagakerjaan atau KKB adalahprogram imbalan pasti. Programmanfaat pasti adalah programpensiun yang ditentukanberdasarkan jumlah imbalanpensiun yang akan diterima seorangpekerja pada saat pensiun, biasanyatergantung oleh satu faktor ataulebih, misalnya usia, masa bekerjadan kompensasi.

The Group is required to provide aminimum amount of pension benefitin accordance with the Group’sCollective Labour Agreement (the“CLA”) or the Labour Law,whichever is higher. Since theLabour Law and the CLA setformula for determining theminimum amount of benefits, insubstance pension plans under theLabour Law or the CLA representdefined benefit plans. A definedbenefit plan is a pension plan that isdefined as an amount of pensionbenefit that an employee will receiveon retirement, usually dependent onone or more factors such as age,years of service and compensation.

24p57BR-50

24p69

24p83

24p135

Sehubungan dengan programimbalan pasti, liabilitas diakui padalaporan posisi keuangankonsolidasian sebesar nilai kinikewajiban imbalan pasti pada akhirperiode pelaporan dikurangi nilaiwajar aset program, bersama denganpenyesuaian untuk keuntungan ataukerugian aktuarial dan biaya jasalalu yang belum diakui. Kewajibanimbalan pasti dihitung setiapsemester oleh aktuaris yangindependen dengan menggunakanmetode projected unit credit. Nilaikini kewajiban imbalan pastiditentukan dengan mendiskontokanarus kas keluar yang diestimasidengan menggunakan tingkat bungaobligasi korporat berkualitas tinggiyang didenominasikan dalam matauang dimana imbalan akandibayarkan dan memiliki jangkawaktu jatuh tempo mendekati jangkawaktu kewajiban pensiun. Apabilatidak terdapat pasar aktif untukobligasi korporat tersebut,digunakan bunga obligasipemerintah.

The liability recognised in theconsolidated statement of financialposition in respect of defined benefitpension plans is the present value ofthe defined benefit obligation at theend of the reporting period less thefair value of plan assets, togetherwith adjustments for unrecognisedactuarial gains or losses and past-service costs. The defined benefitobligation is calculated annually byindependent actuaries using theprojected unit credit method. Thepresent value of the defined benefitobligation is determined bydiscounting the estimated futurecash outflows using interest rates ofhigh quality corporate bonds thatare denominated in the currency inwhich the benefits will be paid, andthat have terms to maturityapproximating to the terms of therelated pension obligation. Whenthere is no deep market for suchbonds, the market rates ofgovernment bonds are used.

Beban yang diakui dalam laba rugitermasuk biaya jasa kini, biayakeuangan, amortisasi biaya jasa lalu,dan keuntungan dan kerugianaktuaria.

Expenses charged to profit or lossinclude current service costs, financecosts, amortisation of past servicecost and actuarial gains and losses.






BR-451p116



BR-50 2.22 Imbalan kerja (lanjutan) 2.22 Employee benefits (continued)

(a) Kewajiban pensiun (lanjutan) (a) Pension obligations (continued)

24p9724p98BR-50

Keuntungan dan kerugian aktuarialyang timbul dari penyesuaianpengalaman dan perubahan asumsiaktuarial yang melebihi dari jumlahyang lebih besar antara 10% nilaiwajar aset program atau 10% nilaikini kewajiban imbalan pastidibebankan atau dikreditkan padalaba rugi selama rata-rata sisa masakerja yang diharapkan dari parapekerja.

Actuarial gains and losses arisingfrom experience adjustments andchanges in actuarial assumptions inexcess of the greater of 10% of thefair value of plan assets or 10% ofthe present value of the definedbenefit obligation are charged orcredited to profit or loss over theemployees expected averageremaining working lives.

24p105 Biaya jasa lalu diakui segera dalamlaba rugi, kecuali perubahan padaprogram pensiun tergantung padakondisi pekerja memberikan jasanyaselama periode tertentu (periodevesting). Dalam hal ini, biaya jasalalu diamortisasi dengan metodegaris lurus sepanjang periodevesting.

Past service costs are recognisedimmediately in income, unless thechanges to the pension plan areconditional upon the employeesremaining in service for a specifiedperiod of time (the vesting period).In this case, the past service costs areamortised on a straight line basisover the vesting period.

(b) Pesangon pemutusan kontrak kerja (b) Termination benefits

24p135(b)BR-50

Pesangon pemutusan kontrak kerjaterutang ketika Grupmemberhentikan hubungan kerjasebelum usia pensiun normal, atauketika seorang pekerja menerimapenawaran mengundurkan dirisecara sukarela dengan kompensasiimbalan pesangon. Grup mengakuipesangon pemutusan kontrak kerjaketika dapat ditunjukkan bahwaGrup berkomitmen untukmelakukan pemberhentian yangditunjukkan dengan adanyaperencanaan yang rinci dan formaluntuk memutuskan hubungan kerjadengan karyawan.

Termination benefits are payablewhen employment is terminated bythe Group before the normalretirement date, or whenever anemployee accepts voluntaryredundancy in exchange for thesebenefits. The Group recognisestermination benefits when it isdemonstrably committed to atermination when the entity has adetailed formal plan to terminate theemployment of current employeeswithout possibility of withdrawal.

24p135(b)BR-50

Dalam hal menyediakan pesangonsebagai penawaran untukmengundurkan diri secara sukarela,pesangon pemutusan kontrak kerjadiukur berdasarkan jumlahkaryawan yang diharapkanmenerima penawaran tersebut.Imbalan yang jatuh tempo lebih dari12 bulan setelah periode pelaporandidiskontokan menjadi nilaikininya.

In the case of an offer made toencourage voluntary redundancy,the termination benefits aremeasured based on the number ofemployees expected to accept theoffer. Benefits falling due more than12 months after the reporting dateare discounted to their present value.






BR-451p116



BR-50 2.22 Imbalan kerja (lanjutan) 2.22 Employee benefits (continued)

(c) Program bagi laba dan bonus (c) Profit-sharing and bonus plans

24p135(b)BR-50

24p17(a)

Grup mengakui liabilitas dan bebanuntuk bonus dan bagi lababerdasarkan rumusan yangmempertimbangkan laba yang dapatdiatribusikan kepada pemegangsaham setelah penyesuaian tertentu.Grup mengakui provisi ketikadiwajibkan secara kontrak atauterdapat praktik masa lalu yangmenyebabkan kewajiban konstruktif.

The Group recognises a liability andan expense for bonuses and profit-sharing, based on a formula thattakes into consideration the profitattributable to the Company’sshareholders after certainadjustments. The Group recognisesa provision where it is contractuallyobliged to do so or where there is apast practice that has created aconstructive obligation.

BR-51 2.23 Pajak penghasilan kini dantangguhan

2.23 Current and deferred income tax

46p60 Beban pajak terdiri dari pajak kini danpajak tangguhan. Pajak diakui dalamlaporan laba rugi, kecuali jika pajaktersebut terkait dengan transaksi ataukejadian yang diakui di pendapatankomprehensif lain atau langsung diakui keekuitas. Dalam hal ini, pajak tersebutmasing-masing diakui dalam pendapatankomprehensif lain atau ekuitas.

The tax expense comprises current anddeferred tax. Tax is recognised in profitor loss, except to the extent that itrelates to items recognised in othercomprehensive income or directly inequity. In this case, the tax is alsorecognised in other comprehensiveincome or directly in equity,respectively.

BR-51 Beban pajak kini dihitung berdasarkanperaturan perpajakan yang berlaku padatanggal pelaporan keuangan, di negara dimana perusahaan dan entitas anakberoperasi dan menghasilkan pendapatankena pajak. Manajemen secara periodikmengevaluasi posisi yang dilaporkan diSurat Pemberitahuan Tahunan (SPT)sehubungan dengan situasi di manaaturan pajak yang berlaku membutuhkaninterpretasi. Jika perlu, manajemenmenentukan provisi berdasarkan jumlahyang diharapkan akan dibayar kepadaotoritas pajak.

The current income tax charge iscalculated on the basis of the tax lawsenacted or substantively enacted at thereporting date. Managementperiodically evaluates positions taken intax returns with respect to situations inwhich the applicable tax regulation issubject to interpretation. It establishesprovisions where appropriate on thebasis of amounts expected to be paid tothe tax authorities.






BR-451p116



BR-51 2.23 Pajak penghasilan kini dantangguhan (lanjutan)

2.23 Current and deferred income tax(continued)

46p14BR-25BR-31BR-51

46p35BR-25

46p48

Pajak penghasilan tangguhan diakui,dengan menggunakan metode balancesheet liability untuk semua perbedaantemporer antara dasar pengenaan pajakaset dan liabilitas dengan nilai tercatatnyapada laporan keuangan konsolidasian.Namun, liabilitas pajak penghasilantangguhan tidak diakui jika berasal daripengakuan awal goodwill atau pada saatpengakuan awal aset dan liabilitas yangtimbul dari transaksi selain kombinasibisnis yang pada saat transaksi tersebuttidak mempengaruhi laba rugi akuntansidan laba rugi kena pajak. Pajakpenghasilan tangguhan ditentukan denganmenggunakan tarif pajak yang telahberlaku atau secara substantif telahberlaku pada akhir periode pelaporan dandiharapkan diterapkan ketika aset pajakpenghasilan tangguhan direalisasi atauliabilitas pajak penghasilan tangguhandiselesaikan.

Deferred income tax is recognised, usingthe balance sheet liability method, ontemporary differences arising betweenthe tax bases of assets and liabilities andtheir carrying amounts in theconsolidated financial statements.However, deferred tax liabilities are notrecognised if they arise from the initialrecognition of goodwill, and deferredincome tax is not accounted for if itarises from the initial recognition of anasset or liability in a transaction otherthan a business combination that at thetime of the transaction affects neitheraccounting nor taxable profit or loss.Deferred income tax is determined usingtax rates that have been enacted orsubstantially enacted as at the reportingperiod and is expected to apply when therelated deferred income tax asset isrealised or the deferred income taxliability is settled.

46p25BR-51

Aset pajak penghasilan tangguhan diakuihanya jika besar kemungkinan jumlahpenghasilan kena pajak di masa depanakan memadai untuk dikompensasidengan perbedaan temporer yang masihdapat dimanfaatkan.

Deferred income tax assets arerecognised only to the extent that it isprobable that future taxable profit willbe available against which thetemporary differences can be utilised.

46p4046p45

Atas perbedaan temporer dalam investasipada entitas anak dan asosiasi dibentukpajak penghasilan tangguhan, kecualiuntuk liabilitas pajak penghasilantangguhan dimana saat pembalikanperbedaan sementara dikendalikan olehGrup dan sangat mungkin perbedaantemporer tersebut tidak akan dibalik dimasa mendatang.

Deferred income tax is provided ontemporary differences arising oninvestments in subsidiaries andassociates, except for deferred incometax liability where the timing of thereversal of the temporary difference iscontrolled by the Group and it isprobable that the temporary differencewill not be reversed in the foreseeablefuture.

46p76BR-25BR-31BR-51

Aset dan liabilitas pajak penghasilantangguhan dapat saling hapus apabilaterdapat hak yang berkekuatan hukumuntuk melakukan saling hapus antara asetpajak kini dengan liabilitas pajak kini danapabila aset dan liabilitas pajakpenghasilan tangguhan dikenakan olehotoritas perpajakan yang sama, baik atasentitas kena pajak yang sama ataupunberbeda dan adanya niat untuk melakukanpenyelesaian saldo-saldo tersebut secaraneto.

Deferred income tax assets andliabilities are offset when there is alegally enforceable right to offsetcurrent tax assets against current taxliabilities, and when the deferred incometaxes assets and liabilities relate toincome taxes levied by the same taxationauthority on either the same taxableentity or different taxable entities wherethere is an intention to settle thebalances on a net basis.






BR-451p116



BR-51 2.24 Pajak atas pendapatan 2.24 Revenue based tax

Selain pajak penghasilan, Grup jugamengakui bentuk pajak yang lain yangdihitung berdasarkan laba bersih yangdihitung menggunakan produksi ataupendapatan. Iuran eksploitasi dianggapsebagai pajak penghasilan apabila merekamemiliki karakteristik sebagai pajakpenghasilan. Hal ini dipertimbangkandemikian apabila dipersyaratkan olehpemerintah dan jumlah terutangdidasarkan pada penghasilan kena pajakdaripada kuantitas fisik yang diproduksiatau persentase dari penjualan. Untukperjanjian yang demikian, pajakpenghasilan dan pajak penghasilanditangguhkan akan dicatat dengan sesuaidengan penjelasan di atas untuk bentuklain perpajakan. Kewajiban yang timbuldari ketentuan iuran eksploitasi tidakmemenuhi kriteria sebagai pajakpenghasilan, sehingga diakui sebagaiprovisi dan dicatat sebagai beban pokokpendapatan.

In addition to income tax, the Groupalso recognises other types of taxes onnet income that are calculated based onproduction or revenue. Exploitation feesare accounted for as income taxes whenthey have the characteristics of anincome tax. This is considered to be thecase when the tax are imposed bygovernment authority and the amountpayable is based on taxable incomerather than based on physical quantitiesproduced or as a percentage of revenue.For such arrangements, current anddeferred income tax is provided on thesame basis as described above for otherforms of taxation. Obligations arisingfrom exploitation fees arrangements donot satisfy these criteria, therefore arerecognised as current provisions, andincluded in cost of revenue.

2.25 Pajak pertambahan nilai (“PPN”) 2.25 Value added tax (“VAT”)

Pendapatan, beban, aset dan kewajibandiakui neto dari jumlah PPN kecuali:

Revenues, expenses, assets andliabilities are recognised net of theamount of VAT except:

• PPN yang timbul dari pembelian asetatau jasa yang tidak dapat dipulihkandari otoritas perpajakan, dalam halini, PPN diakui sebagai bagian biayaperolehan aset atau bagian dari itembiaya mana yang lebih sesuai.

• Where the VAT incurred on apurchase of assets or services is notrecoverable from the taxationauthority, in which case the VAT isrecognised as part of the cost ofacquisition of the asset or as part ofthe expense item as applicable.

• Piutang dan utang diakui beserta PPNterkait.

• When receivables and payables arestated with the amount of VATincluded.

Jumlah neto PPN yang dapat dipulihkandari atau terutang pada otoritasperpajakan dicatat sebagai bagian piutangatau utang dalam laporan posisikeuangan konsolidasian.

The net amount of VAT recoverablefrom, or payable to, the taxationauthority is included as part ofreceivables or payables in theconsolidated statement of financialposition.

Guidance notes:The mining sector is subject to numerous fiscal regimes throughout the world. These fiscal regimes may includeroyalties, production taxes, revenue taxes and others. One issue is determining which of these fiscal regimes representincome taxes and are therefore subject to the accounting requirements of SFAS 46 and which are not income taxes andtherefore fall outside the scope of SFAS 46. Usually, this is required to be considered on a case-by-case basis.






BR-451p116



BR-50 2.26 Pengakuan pendapatan dan beban 2.26 Revenue and expenses recognition

23p823p9BR-50BR-36

Pendapatan terdiri dari nilai wajarimbalan yang diterima atau akan diterimadari penjualan barang dan jasa dalamkegiatan usaha normal Grup. Pendapatandisajikan neto setelah dikurangi pajakpertambahan nilai, retur, potongan hargadan diskon dan setelah mengeliminasipenjualan intra kelompok usaha.

Revenue comprises the fair value of theconsideration received or receivable forthe sale of goods and services in theordinary course of the Group’sbusinesses. Revenue is shown net ofvalue-added tax, returns, rebates anddiscounts and after eliminating intra-group sales.

23p823p33BR-36

Grup mengakui pendapatan ketika jumlahpendapatan dapat diukur secara andal,besar kemungkinan manfaat ekonomismasa depan akan mengalir kepada entitasdan kriteria tertentu telah dipenuhi untuksetiap aktivitas Grup seperti dijelaskandibawah ini. Grup menggunakan hasilhistoris dalam penentuan estimasi,dengan mempertimbangkan tipepelanggan, tipe transaksi dan persyaratansetiap transaksi sebagai dasar estimasi.

The Group recognises revenue when theamount of revenue can be reliablymeasured; it is probable that futureeconomic benefits will flow to the entity;and when specific criteria have been metfor each of the Group’s activities asdescribed below. The Group bases itsestimates on historical results, taking intoconsideration the type of customer, thetype of transaction and the specifics ofeach arrangement.

(a) Penjualan batubara (a) Sales of coal

BR-36

23p33

Pendapatan dari penjualan batubaradiakui jika seluruh kondisi berikutterpenuhi:

Revenue from coal sales isrecognised when all of thefollowing conditions are fulfilled:

• Grup telah memindahkan risikodan manfaat kepemilikanbatubara secara signifikankepada pembeli

• The Group has transferred tothe buyer the significant risksand rewards of ownership ofthe coal

• Grup tidak lagi melanjutkanpengelolaan yang biasanya terkaitdengan kepemilikan batubaraataupun melakukanpengendalian efektif atasbatubara yang dijual

• Jumlah pendapatan dapat diukursecara andal

• Kemungkinan besar manfaatekonomi yang terkait dengantransaksi tersebut akan mengalirke Grup, dan

• Biaya yang terjadi atau akanterjadi sehubungan transaksipenjualan tersebut dapat diukursecara andal.

• The Group retains neithercontinuing managerialinvolvement nor effectivecontrol over the coal sold

• The amount of revenue can bemeasured reliably

• It is probable that the economicbenefits associated with thetransaction will flow to theGroup, and

• The costs incurred or to beincurred with respect to thesales transaction can bemeasured reliably.

Terpenuhinya kondisi tersebuttergantung persyaratan penjualandengan setiap pelanggan. Secaraumum, risiko dan manfaat dianggaptelah berpindah ke pelanggan ketikaterjadi transfer kepemilikan danrisiko kerugian yang diasuransi.

The satisfaction of these conditionsdepends on the terms of trade withindividual customers. Generallythe risks and rewards areconsidered to be transferred to thecustomer when the title andinsurable risk of loss aretransferred.






BR-451p116



BR-50 2.26 Pengakuan pendapatan dan beban(lanjutan)

2.26 Revenue and expenses recognition(continued)

(a) Penjualan batubara (lanjutan) (a) Sales of coal (continued)

Beberapa perjanjian penjualanmengijinkan adanya penyesuaianatas harga jual berdasarkan surveiatas barang yang dilakukan olehpelanggan (sebuah pengujian atasnilai kalori dan beberapa kriteriatertentu). Untuk itu pendapatanatas penjualan diakui padaawalnya atas dasar provisimenggunakan estimasi spesifikasidan jumlah dan produk yangditentukan paling kini dandisesuaikan setelahnya, jika perlu,berdasarkan hasil survei atasbarang yang dilakukan olehpelanggan. Secara historis,perbedaan antara estimasi danspesifikasi dan jumlah aktualproduk tidak signifikan.

Certain sales arrangements allowfor an adjustment to the sales pricebased on a survey of the goods bythe customer (an assay for calorificvalue and certain other criteria).Accordingly, sales revenue isinitially recognised on aprovisional basis using the mostrecently determined estimate of theproduct specifications and quantityand subsequently adjusted, ifnecessary, based on the result ofthe survey of the goods by thecustomer. Historically, thedifferences between estimate andactual product specifications andquantity are not significant.

(b) Pemberian jasa (b) Rendering of services

BR-50

23p3323p20

Pendapatan dari jasa terdiri daripendapatan penyediaan jasapertambangan dan logistik. Bilasuatu hasil transaksi yangberhubungan dengan jasa dapatdiestimasi dengan andal,pendapatan sehubungan dengantransaksi tersebut diakui denganmengacu pada tingkatpenyelesaian transaksi tersebutpada tanggal pelaporan. Hasiltransaksi dapat diestimasi denganandal pada saat terpenuhinyaseluruh kondisi berikut:

Revenue from services comprises ofrevenue from providing miningand logistic services. When theoutcome of a transaction involvingthe rendering of services can beestimated reliably, revenueassociated with the transactionshall be recognised by reference tothe stage of completion of thetransaction at the end of thereporting period. The outcome of atransaction can be estimatedreliably when all of the followingconditions are fulfilled:

Jumlah pendapatan dapatdiukur dengan andal

Besar kemungkinan manfaatekonomi sehubungan dengantransaksi tersebut akandiperoleh Grup

Tingkat penyelesaian daritransaksi tersebut padapelaporan keuangan dapatdiukur dengan andal, dan

Biaya yang terjadi untuktransaksi dan untukmenyelesaikan transaksitersebut dapat diukur denganandal.

The amount of revenue can bemeasured reliably

It is probable that theeconomic benefits associatedwith the transaction will flowto the Group

The stage of completion of thetransaction at the end of thereporting period can bemeasured reliably, and

The costs incurred for thetransaction and the costs tocomplete the transaction canbe measured reliably.






BR-451p116



BR-50 2.26 Pengakuan pendapatan dan beban(lanjutan)

2.26 Revenue and expenses recognition(continued)

(b) Pemberian jasa (lanjutan) (b) Rendering of services (continued)

Bila hasil transaksi penjualan jasatidak dapat diestimasi denganandal, pendapatan yang diakuihanya sebesar beban yang telahdiakui yang dapat diperolehkembali.

When the outcome of a transactioninvolving the rendering of servicescannot be estimated reliably,revenue is recognised only to theextent of the recognised expensesthat are recoverable.

(c) Pendapatan sewa

Pendapatan sewa dari sewa operasi(setelah dikurangi insentif kepadalessee) diakui menggunakanmetode garis lurus selama masasewa.

(c) Rental income

Rental income from operatingleases (net of any incentives givento the lessee) is recognised on astraight line basis over the leaseterm.

Beban diakui pada saat terjadinyadengan basis akrual.

Expenses are recognised asincurred on an accruals basis.

BR-50 (d) Pendapatan bunga (d) Interest income

23p29(a)BR-50

Pendapatan bunga diakui denganmenggunakan metode suku bungaefektif. Ketika pinjaman ataupiutang mengalami penurunannilai, Grup mengurangi nilaitercatat pinjaman dan piutangtersebut menjadi jumlahterpulihkannya, yakni estimasi aruskas masa depan yangdidiskontokan berdasarkan sukubunga efektif awal dari instrumentersebut, dan terus mengamortisasidiskonto sebagai pendapatanbunga. Pendapatan bunga ataspinjaman dan piutang yangmengalami penurunan nilai diakuimenggunakan suku bunga efektifawal.

Interest income is recognised usingthe effective interest method. Whena loan or receivable is impaired,the Group reduces the carryingamount to its recoverable amount,being the estimated future cashflow discounted at the originaleffective interest rate of theinstrument, and continues tounwind the discount as interestincome. Interest income onimpaired loans and receivables isrecognised using the originaleffective interest rate.

(e) Pendapatan dividen (e) Dividend income

23p29(c)BR-50

Pendapatan dividen diakui padasaat ditetapkan hak untukmenerima pembayaran tersebut.

Dividend income is recognisedwhen the right to receive paymentis established.






BR-451p116



2.27 Distribusi dividen 2.27 Dividend distribution

Pembagian dividen kepada pemegangsaham Perusahaan diakui sebagailiabilitas dalam laporan keuangankonsolidasian dalam periode dimanapembagian dividen telah disetujui olehpemegang saham Perusahaan.

Dividend distribution to the Company’sshareholders are recognised as a liabilityin the consolidated financial statementsin the period in which the dividends areapproved by the Company’sshareholders.

2.28 Laba per saham 2.28 Earnings per share

56p1156p1356p20BR-87BR-88

Laba per saham dasar dihitung denganmembagi laba bersih yang tersedia bagipemegang saham Perusahaan denganjumlah rata-rata tertimbang saham biasayang beredar pada tahun berjalan.

Basic earnings per share are calculatedby dividing the profit attributable to theequity holders of the Company by theweighted average number of ordinaryshares outstanding during the year.

56p3156p33BR-87BR-88

Laba bersih per saham dilusian dihitungdengan membagi laba tahun berjalan yangdiatribusikan kepada pemilik entitasinduk Perusahaan yang telah disesuaikandengan biaya keuangan atas hutangobligasi konversi, serta pengaruh pajakyang bersangkutan, dengan jumlahtertimbang saham yang ditempatkan dandisetor penuh selama tahun yangbersangkutan, berdasarkan asumsi bahwasemua opsi telah dilaksanakan danseluruh hutang obligasi konversi telahdikonversikan.

Diluted earnings per share are calculatedby dividing the profit for the yearattributable to owners of the parent ofthe Company adjusted for finance cost onconvertible bonds and the related taxeffects, by the weighted average numberof issued and fully paid up shares duringthe year, assuming that all options havebeen exercised and all convertible bondshave been converted.

BR-51 2.29 Segmen pelaporan 2.29 Segment reporting

5p5(b)BR-51

Segmen operasi dilaporkan dengan carayang konsisten dengan pelaporan internalyang diberikan kepada pengambilkeputusan operasional. Direksimerupakan pengambil keputusanoperasional yang bertanggung jawabuntuk mengalokasikan sumber daya danmenilai kinerja segmen operasi danmembuat keputusan strategis.

Operating segments are reported in amanner consistent with the internalreporting provided to the chief operatingdecision maker. The chief operatingdecision maker who is responsible forallocating resources and assessing theperformance of the operating segmentsand making strategic decisions has beenidentified as the Board of Directors.






1p121, 124BR-45, 46

3. ESTIMASI DAN PERTIMBANGANAKUNTANSI YANG PENTING

3. CRITICAL ACCOUNTING ESTIMATESAND JUDGEMENTS

Penyusunan laporan keuangan konsolidasianyang sesuai dengan Standar AkuntansiKeuangan di Indonesia mengharuskanmanajemen untuk membuat estimasi danasumsi yang mempengaruhi jumlah aset danliabilitas yang dilaporkan dan pengungkapanaset dan liabilitas kontinjensi pada tanggalpelaporan, serta jumlah pendapatan danbeban selama tahun pelaporan. Estimasi,asumsi, dan pertimbangan tersebut dievaluasisecara terus menerus dan berdasarkanpengalaman historis dan faktor-faktor lainnya,termasuk ekspektasi peristiwa masa depanyang diyakini wajar berdasarkan kondisi yangada.

The preparation of the consolidated financialstatements in conformity with IndonesianFinancial Accounting Standards requiresmanagement to make estimates andassumptions that affect the reported amounts ofassets and liabilities and the disclosure ofcontingent assets and liabilities at the reportingdate and the reported amounts of revenue andexpenses during the reporting year. Estimates,assumptions and judgements are continuallyevaluated and are based on historical experienceand other factors, including expectations offuture events that are believed to be reasonableunder the circumstances.

Grup telah mengidentifikasi hal-hal berikutdimana diperlukan pertimbangan, estimasidan asumsi signifikan dan dimana hasil aktualdapat berbeda dari estimasi tersebut jikamenggunakan asumsi dan kondisi yangberbeda dan dapat mempengaruhi secaramaterial hasil keuangan atau posisi keuangankonsolidasian Grup yang dilaporkan dalamtahun mendatang.

The Group has identified the following mattersunder which significant judgements, estimatesand assumptions are made and where actualresults may differ from these estimates underdifferent assumptions and conditions and maymaterially affect the consolidated financialresults or the financial position of the Groupreported in future years.

- Biaya pengupasan lapisan tanah yangditangguhkan

- Deferred stripping costs

Pengupasan lapisan tanah terjadi selamatahap produksi tambang atau pit.Beberapa perusahaan pertambanganmembebankan biaya pengupasan lapisantanah pada saat terjadinya, sedangkanyang lain (termasuk Grup) menunda biayapengupasan lapisan tanah tersebut. Dalamoperasi yang mengalami fluktuasi dalamrasio nisbah kupas tahunan terhadapnisbah kupas umur tambang atau pit,penundaan biaya pengupasan lapisantanah mengurangi volatilitas dari biayapengupasan lapisan tanah yangdibebankan pada setiap tahun pelaporan.Perusahaan pertambangan yangmembebankan biaya pengupasan lapisantanah pada saat terjadinya akanmelaporkan volatilitas yang lebih besardalam hasil operasi mereka dari tahun ketahun.

Stripping of overburden takes placethroughout the production stage of themine or pit. Some mining companiesexpense their production stage strippingcosts as they are incurred, while others(including the Group) defer these strippingcosts. In operations that experiencematerial fluctuations in the stripping ratioon a year to year basis over the life of themine or pit, deferring stripping costsreduces the volatility of the cost ofstripping expensed in individual reportingyears. Those mining companies thatexpense stripping costs as incurred willtherefore report greater volatility in theresults of their operations from year toyear.

Nisbah kupas rata – rata rencana umurtambang atau pit sangat tergantung padarancangan tambang secara individu danoleh karena itu perubahan pada rancangantersebut pada umumnya akanmenghasilkan perubahan rasio. Perubahanpada teknik atau parameter ekonomilainnya yang berdampak pada cadanganjuga akan berdampak pada nisbah kupasrata-rata rencana umur tambang atau pitmeskipun perubahan tersebut tidakmempengaruhi rancangan tambang ataupit. Perubahan nisbah kupas rata-ratarencana umur tambang atau pit diterapkansecara prospektif.

The average life of mine plan or the pitstripping ratio is a function of anindividual mine’s pit design and thereforechanges to that design will generally resultin changes to the ratio. Changes in othertechnical or economic parameters thathave an impact on reserves will also havean impact on the average life of mine planor the pit stripping ratio even if they do notaffect the mine or pit design. Changes tothe average life of mine plan or the pitstripping ratio are accounted forprospectively.






1p121, 124BR-45, 46

3. ESTIMASI DAN PERTIMBANGANAKUNTANSI YANG PENTING (lanjutan)

3. CRITICAL ACCOUNTING ESTIMATESAND JUDGEMENTS (continued)

- Biaya pengupasan lapisan tanah yangditangguhkan (lanjutan)

- Deferred stripping costs (continued)

Penentuan Grup mengenai apakahbeberapa tambang dipertimbangkansebagai operasi terpisah atau terintegrasitergantung pada keadaan spesifik setiaptambang dan analisis tersebutmembutuhkan pertimbangan. Perusahaanlain dapat menetapkan bahwa suatutambang sebagai operasi terpisah atauterintegrasi yang berbeda dengan Grup,meskipun pola faktanya serupa. Karenapenentuan yang berbeda, perlakuanakuntansi yang digunakan juga akanberbeda.

The Group’s determination of whethermultiple pit mines are considered separateor integrated operations depends on eachmine’s specific circumstances and theanalysis requires judgement. Anothercompany could make the determinationthat a mine is separated or integrateddifferently than the Group, even if the factpattern appears to be similar. To the extentthat the determination is different, theresulting accounting would also bedifferent.

- Pajak penghasilan - Income taxes

Perhitungan beban pajak penghasilanmasing-masing perusahaan dalam Grupmemerlukan pertimbangan dan asumsidalam menentukan penyisihan modal danpengurangan beban tertentu selama prosespengestimasian. Semua pertimbangan danestimasi yang dibuat manajemen sepertiyang diungkapkan di atas dapatdipertanyakan oleh Direktorat JenderalPajak. Sebagai akibatnya, terjadiketidakpastian dalam penentuan kewajibanpajak. Resolusi posisi pajak yang diambiloleh Grup, melalui negosiasi denganotoritas pajak yang relevan dapatberlangsung bertahun-tahun dan sangatsulit untuk memprediksi hasil akhirnya.Apabila terdapat perbedaan perhitunganpajak dengan jumlah yang telah dicatat,perbedaan tersebut akan berdampak padapajak penghasilan dan pajak tangguhandalam tahun dimana penentuan pajaktersebut dibuat.

The calculations of income tax expense foreach company within the Group requirejudgements and assumptions indetermining the capital allowances anddeductibility of certain expenses during theestimation process. All judgement andestimates made by management asdiscussed above may be challenged by theDirectorate General of Taxation. As aresult, the ultimate tax determinationbecomes uncertain. The resolution of taxpositions taken by the Group, throughnegotiations with the relevant taxauthorities can take several years tocomplete and in some cases it is difficult topredict the ultimate outcome. Where thefinal outcome of these matters is differentfrom the amounts initially recorded, suchdifferences will have an impact on theincome tax and deferred income taxprovision in the year in which thisdetermination is made.

Aset pajak tangguhan, termasuk yangtimbul dari rugi fiskal, penyisihan modal,dan perbedaan temporer, diakui hanyaapabila dianggap lebih mungkin daripadatidak bahwa mereka dapat diterimakembali, dimana hal ini tergantung padakecukupan pembentukan laba kena pajakdi masa depan. Sama seperti “penurunannilai aset nonkeuangan” asumsi ataspembentukkan laba kena pajak sangatdipengaruhi oleh estimasi dan asumsimanajemen atas tingkat produksi yangdiharapkan, volume penjualan, hargakomoditas, dan lain-lain; yang manaterpapar atas resiko dan ketidakpastian,sehingga ada kemungkinan perubahanestimasi dan asumsi akan mengubahproyeksi laba kena pajak di masamendatang.

Deferred tax assets, including thosearising from tax losses carried forward,capital allowances and temporarydifferences, are recognised only where it isconsidered more likely than not that theywill be recovered, which is dependent onthe generation of sufficient future taxableprofits. Similar to “impairment of non-financial assets”, assumptions about thegeneration of future taxable profits isheavily impacted by management’sestimates and assumptions regarding theexpected production level, sales volumes,commodity prices, etc. which are subject torisk and uncertainty, and hence there is apossibility that changes in circumstanceswill alter the projected future taxableprofits.

Guidance notes:The illustrative disclosure for critical accounting estimates and judgement if early adopting ISFAS 29 has been described onAppendix 1 of these illustrative consolidated financial statements.






1p121, 124BR-45, 46



- Penurunan nilai goodwill - Impairment of goodwill

Grup melakuan pengujian setiap tahun atasgoodwill yang telah mengalami penurunannilai, sesuai dengan kebijakan akuntansiyang dinyatakan dalam Catatan 2.15.Jumlah terpulihkan unit penghasil kastelah ditentukan dengan perhitungan nilaiwajar dikurangi biaya untuk menjual.Perhitungan ini memerlukan penggunaanestimasi (Catatan 15).

The Group tests annually whethergoodwill has suffered any impairment, inaccordance with the accounting policystated in Note 2.15. The recoverableamounts of CGUs have been determinedbased on fair value less cost to sellcalculations. These calculations requirethe use of estimates (Note 15).

Penentuan nilai terpulihkan mengharuskanmanajemen untuk membuat estimasi danasumsi tentang ekspektasi produksi danvolume penjualan, harga komoditas(mempertimbangkan harga saat ini danmasa lalu, tren harga dan faktor-faktorterkait), cadangan (lihat Estimasicadangan), biaya operasi, biaya penutupandan rehabilitasi serta belanja modal dimasa depan.

The determination of recoverable amountrequires management to make estimatesand assumptions about the expectedproduction and sales volumes,commodity prices (considering currentand historical prices, price trends andrelated factors), reserves (see Reserveestimates), operating costs, closure andrehabilitation costs and future capitalexpenditure.

Estimasi dan asumsi ini memiliki risikodan ketidakpastian; sehingga adakemungkinan bahwa perubahan situasiakan mengubah proyeksi ini, yangselanjutnya dapat mempengaruhi jumlahaset yang dapat dipulihkan. Dalam keadaanseperti itu, beberapa atau semua asetmungkin akan mengalami penurunan nilaidengan dampak yang dicatat dalam labarugi.

These estimates and assumptions aresubject to risk and uncertainty, hencethere is a possibility that changes incircumstances will alter theseprojections, which in turn may have animpact on the recoverable amount of theassets. In such circumstances, some or allof the carrying value of the assets may befurther impaired with the impactrecorded in profit or loss.

- Estimasi cadangan - Reserve estimates

Cadangan batubara adalah perkiraanjumlah batubara yang dapat secaraekonomis dan sah diekstrak dari propertiGrup. Grup menentukan dan melaporkancadangan batubara berdasarkan prinsip-prinsip yang terdapat dalam Joint OreReserves Committees untuk PelaporanSumber Daya Mineral dan Cadangan Bijih("JORC"). Dalam rangka untukmemperkirakan cadangan batubara,dibutuhkan asumsi tentang faktor geologi,teknis, dan ekonomi, termasuk jumlahproduksi, teknik produksi, rasio nisbahkupas, biaya produksi, biaya transportasi,permintaan komoditas, belanja modal dimasa depan, harga komoditas, kewajibanbiaya penutupan tambang dan nilai tukar.

Coal reserves are estimates of theamounts of coal that can be economicallyand legally extracted from the Group’sproperties. The Group determines andreports its coal reserves under theprinciples incorporated in the Joint OreReserves Committees for the Reporting ofMineral Resources and Ore Reserves (the“JORC”). In order to estimate coalreserves, assumptions are required abouta range of geological, technical andeconomic factors, including quantities,production techniques, stripping ratios,production costs, transport costs,commodity demand, commodity prices,future capital expenditure, mine closureobligation and exchange rates.






1p121, 124BR-45, 46



- Estimasi cadangan (lanjutan) - Reserve estimates (continued)

Memperkirakan jumlah dan/atau nilaikalori cadangan batubara membutuhkanukuran, bentuk, dan kedalaman lapisanbatubara atau lapangan yang akanditentukan dengan menganalisis datageologi seperti “uji petik” (sampel)pengeboran. Proses ini mungkinmemerlukan pertimbangan geologi yangkompleks dan sulit untukmenginterpretasikan data.

Estimating the quantity and/or calorificvalue of coal reserves requires the size,shape and depth of coal seam or fields tobe determined by analysing geologicaldata such as drilling samples. Thisprocess may require complex anddifficult geological judgements tointerpret the data.

Karena asumsi ekonomi yang digunakanuntuk memperkirakan cadangan berubahdari tahun ke tahun dan karena datageologi tambahan yang dihasilkan selamaoperasi, perkiraan cadangan dapat berubahdari tahun ke tahun. Perubahan cadanganyang dilaporkan dapat mempengaruhi hasildan posisi keuangan konsolidasian Grupdalam berbagai cara, diantaranya:

Because the economic assumptions usedto estimate reserves change from year toyear and because additional geologicaldata is generated during the course ofoperations, estimates of reserves maychange from year to year. Changes inreported reserves may affect the Group’sconsolidated financial results andfinancial position in a number of ways,including the following:

• Nilai tercatat aset dapat terpengaruhakibat perubahan estimasi arus kasmasa depan

• Asset carrying values may beaffected due to changes in theestimated future cash flows

• Penyusutan, deplesi, dan amortisasiyang dibebankan ke dalam laba rugidapat berubah dimana beban-bebantersebut ditentukan berdasarkanmetode unit produksi, atau dimanamasa manfaat ekonomi umur asetberubah

• Depreciation, depletion andamortisation charged to profit orloss may change where such chargesare determined based on a unit-of-production method or where theeconomic useful lives of assetschange

• Beban pembuangan lapisan tanah yangdicatat pada laporan posisi keuangankonsolidasian atau dibebankan padalaba rugi dapat berubah karena adanyaperubahan rasio nisbah kupas

• Overburden removal costs recordedin the consolidated statement offinancial position or charged toprofit or loss may change due tochanges in stripping ratios

• Provisi penutupan tambang dapatberubah apabila terjadi perubahandalam perkiraan cadangan yangmempengaruhi ekspektasi tentangwaktu atau biaya kegiatan ini

• Nilai tercatat aset pajak tangguhandapat berubah karena perubahanestimasi atas kemungkinanterpulihkannya manfaat pajak.

• Provision for mine closure maychange when changes in estimatedreserves affect the expectationsregarding the timing or cost of theseactivities

• The recognition and carrying valueof deferred tax assets may changedue to changes in estimates of thelikelihood of the recoverability of thetax benefits.

Guidance notes:Reserves and resources is among the main significant non-financial statement items for mining companies in general.Reserve and resources is usually presented in the Company's annual report as it is considered crucial information forinvestors. There is currently no requirement to disclose reserves and resources information in the financial statementsunder the Indonesian Financial Accounting Standards or OJK Regulation. Reserves are not recognised as assets in thestatement of financial position, however, they are used as part of estimated consumption patterns for certain assets.Hence, due to the level of uncertainty related to reserves and resources determination, generally, the description of themethod, basis of assumption and other contributing factors are disclosed as part of the requirements under SFAS 1 par124.






1p121, 124BR-45, 46



- Beban eksplorasi dan evaluasi danaktivitas pengembangan

Kebijakan akuntansi Grup untuk biayaeksplorasi dan evaluasi mengakibatkanbiaya tertentu dikapitalisasi untuksebuah area of interest yang dianggapdapat dipulihkan oleh eksploitasi di masadepan atau penjualan atau di manakegiatan tambang belum mencapai tahaptertentu yang memungkinkan dilakukanpenilaian yang wajar atas keberadaancadangan. Kebijakan ini mengharuskanmanajemen untuk membuat estimasidan asumsi tertentu atas peristiwa dankeadaan di masa depan, khususnyaapakah operasi eksploitasi dapatdilaksanakan secara ekonomis.

Setiap perkiraan dan asumsi tersebutdapat berubah seiring tersedianyainformasi baru. Jika, setelah dilakukankapitalisasi atas biaya berdasarkankebijakan ini, suatu pertimbangan dibuatbahwa pemulihan biaya dianggap tidakdimungkinkan, biaya yang telahdikapitalisasi tersebut akan dibebankanke dalam laba rugi.

Kegiatan pengembangan dimulai setelahdilakukan pengesahan proyek olehtingkat manajemen yang berwenang.Pertimbangan diterapkan olehmanajemen dalam menentukankelayakan suatu proyek secara ekonomis.Dalam melakukan pertimbangan ini,manajemen perlu membuat estimasi danasumsi tertentu yang serupa dengankapitalisasi biaya eksplorasi dan evaluasiyang dijelaskan di atas.

Setiap estimasi dan asumsi tersebutdapat berubah seiring tersedianyainformasi baru. Jika, setelah kegiatanpengembangan dimulai, berdasarkanpertimbangan bahwa ternyata terjadipenurunan nilai aset dalam biayapengembangan yang ditangguhkan,penurunan nilai tersebut akandibebankan ke dalam laba rugi.

- Exploration and evaluation expendituresand development activities

The Group’s accounting policy forexploration and evaluation expenditureresults in certain items of expenditurebeing capitalised for an area of interestwhere it is considered likely to berecoverable by future exploitation or saleor where the activities have not reached astage which permits a reasonableassessment of the existence of reserves.This policy requires management to makecertain estimates and assumptions as tofuture events and circumstances, inparticular whether an economicallyviable extraction operation can beestablished.

Any such estimates and assumptions maychange as new information becomesavailable. If, after having capitalised theexpenditure under the policy, ajudgement is made that recovery of theexpenditure is unlikely, the relevantcapitalised amount will be written off toprofit or loss.

Development activities commence after aproject is sanctioned by the appropriatelevel of management. Judgement isapplied by management in determiningwhether a project is economically viable.In exercising this judgement,management is required to make certainestimates and assumptions similar tothose described above for capitalisedexploration and evaluation expenditure.

Any such estimates and assumptions maychange as new information becomesavailable. If, after development activityhas commenced, a judgement is madethat a development asset is impaired, theappropriate amount will be written off toprofit or loss.






1p121, 124BR-45, 46



- Penurunan nilai aset nonkeuangan danaset tetap

- Impairment of non-financial assets andproperty, plant and equipment

Goodwill diuji penurunan nilainya secaratahunan, sesuai dengan kebijakanakuntansi yang dinyatakan dalamCatatan 2.15. Selain itu, asetnonkeuangan termasuk aset tetap diujipenurunan nilai apabila ada indikasipenuruan nilai atas aset tersebut(Catatan 15).

Jumlah nilai yang dapat dipulihkankembali dari sebuah aset atau kelompokaset penghasil kas (termasuk goodwill)diukur berdasarkan nilai yang lebihtinggi antara nilai wajar dikurangi biayauntuk menjual atau nilai pakai.Penentuan nilai wajar dikurangi biayauntuk menjual atau nilai pakaimewajibkan manajemen untuk membuatestimasi dan asumsi atas tingkatproduksi yang diharapkan dan volumepenjualan, harga komoditas(mempertimbangkan harga saat ini danharga masa lalu, tren harga, dan faktor-faktor terkait), cadangan (lihat 'EstimasiCadangan'), biaya operasi, biayapenutupan dan rehabilitasi serta belanjamodal di masa depan. Estimasi danasumsi ini terpapar risiko danketidakpastian; sehingga terdapatkemungkinan perubahan situasi yangdapat mengubah proyeksi ini, sehinggadapat mempengaruhi nilai aset yangdapat dipulihkan kembali. Dalamkeadaan seperti itu, sebagian atauseluruh nilai tercatat aset mungkin akanmengalami penurunan nilai lebih lanjutatau terjadi pengurangan rugi penurunannilai yang dampaknya akan dicatat dalamlaba rugi. Penurunan nilai goodwillsegera diakui dalam laba rugi danselanjutnya tidak akan dibalik.

Goodwill is tested annually forimpairment, in accordance with theaccounting policy stated in Note 2.15. Inaddition, non-financial assets includingproperty, plant and equipment are testedfor impairment when there areindications of deterioration in the valueof the asset (Note 15).

The recoverable amount of an asset orcash-generating group of assets(including goodwill) is measured at thehigher of its fair value less costs to sell orvalue-in-use. The determination of fairvalue less costs to sell or value-in-userequires management to make estimatesand assumptions regarding expectedproduction levels and sales volumes,commodity prices (considering currentand historical prices, price trends andrelated factors), reserves (see ‘ReserveEstimates’), operating costs, closure andrehabilitation costs and future capitalexpenditure. These estimates andassumptions are subject to risk anduncertainty, and hence there is apossibility that changes in circumstanceswill alter these projections, which mayhave an impact on the recoverableamount of the assets. In suchcircumstances, some or all of thecarrying values of the assets may befurther impaired or the impairmentcharges may be reduced with the impactbeing recorded in profit or loss.Impairment of goodwill will berecognised directly as an expense and isnot subsequently reversed.






1p121, 124BR-45, 46



- Kewajiban pensiun - Pension obligation

Nilai kini kewajiban pensiun tergantungpada sejumlah faktor yang ditentukanberdasarkan basis dari aktuaria denganmenggunakan sejumlah asumsi. Asumsiyang digunakan dalam menentukanbeban/(pendapatan) bersih untuk pensiuntermasuk tingkat diskonto, perubahanremunerasi masa depan, tingkatpengurangan karyawan, tingkat harapanhidup dan periode sisa yang diharapkandari masa aktif karyawan. Setiap perubahandalam asumsi-asumsi ini akan berdampakpada nilai tercatat atas kewajiban pensiun.

The present value of the pension obligationdepends on a number of factors that aredetermined on an actuarial basis using anumber of assumptions. The assumptionsused in determining the net cost/(income)for pensions include the discount rate,future remuneration changes, employeeattrition rates, life expectancy andexpected remaining periods of service ofemployees. Any changes in theseassumptions will have an impact on thecarrying amount of the pension obligation.

Grup menentukan tingkat diskonto yangsesuai pada setiap akhir tahun. Tingkatsuku bunga inilah yang digunakan untukmenentukan nilai kini dari estimasi aruskas keluar masa depan yang akandibutuhkan untuk memenuhi kewajibanpensiun. Dalam menentukan tingkatdiskonto yang sesuai, Grup mengggunakantingkat suku bunga obligasi korporatberkualitas tinggi (atau obligasipemerintah, dengan pertimbangan saat initidak ada pasar aktif untuk obligasikorporat berkualitas tinggi) dalam matauang yang sama dengan mata uang imbalanyang akan dibayarkan dan memiliki waktujatuh tempo yang kurang lebih samadengan waktu jatuh tempo kewajibanpensiun yang bersangkutan.

The Group determines the appropriatediscount rate at the end of each year. Thisis the interest rate that should be used todetermine the present value of estimatedfuture cash outflows expected to berequired to settle the related pensionobligation. In determining the appropriatediscount rate, the Group considers theinterest rates of high-quality corporatebonds (or government bonds, if there is nodeep market for high quality corporatebonds) that are denominated in thecurrency in which the benefits will be paidand that have terms to maturityapproximating the terms of the relatedpension obligation.

Asumsi kunci lainnya untuk kewajibanpensiun didasarkan sebagian pada kondisipasar saat ini.

Other key assumptions for pensionobligation benefits are based in part oncurrent market conditions.

Jika tingkat diskonto berbeda 1% dariestimasi manajemen, nilai kini kewajibandiestimasi akan lebih rendah sebesarAS$345 atau lebih tinggi sebesar AS$377.

Were the discount rate used to differ by 1%from management’s estimates, theestimated present value of obligationswould be US$345 lower or US$377 higher.






1p121, 124BR-45, 46



- Provisi reklamasi, pembongkaran, danpenutupan tambang

- Provision for mine reclamation,decommissioning, and mine closure

Seperti yang dijelaskan pada Catatan 2.17laporan keuangan konsolidasian,pemulihan, rehabilitasi dan biayalingkungan yang berkaitan denganpemulihan atas area yang terganggu selamatahap produksi dibebankan pada bebanpokok pendapatan pada saat kewajibanberkitan dengan pemulihan tersebut timbulselama proses penambangan. Reklamasiatas area yang terganggu akan dilakukanselama beberapa tahun mendatang danpersyaratan atas reklamasi ini terusberubah untuk memenuhi ekspektasipolitik, lingkungan, keamanan dan publik.Dengan demikian waktu pelaksanaan danjumlah arus kas di masa mendatang yangdibutuhkan untuk memenuhi kewajibanpada setiap tanggal pelaporan dipengaruhioleh ketidakpastian yang signifikan.Perubahan pada ekspektasi biaya di masamendatang dapat mempengaruhi secaramaterial laporan keuangan konsolidasianGrup.

As discussed in Note 2.17 to theconsolidated financial statements,restoration, rehabilitation andenvironmental expenditures to be incurredrelated to the remediation of disturbedareas during the production phase arecharged to cost of revenue when theobligation arising from the disturbanceoccurs as extraction progresses. Thereclamation of disturbed areas will beundertaken over several years in thefuture and precise requirements areconstantly changing to satisfy political,environmental, safety and publicexpectations. As such, the timing andamounts of future cash flows required tosettle the obligations at each reportingdate are subject to significant uncertainty.Changes in the expected future costs couldhave a material impact on the Group’sconsolidated financial statements.

Provisi atas penutupan tambang telahdihitung atas dasar peraturan terbaru.Namun demikian, tidak terdapat jaminankalau peraturan tersebut tidak akanberubah. Perubahan peraturan di masamendatang mungkin akan mengakibatkanaktivitas penutupan tambang dan pascatambang menjadi lebih ketat untukmemenuhi ekspektasi politik, lingkungan,keamanan dan publik. Dengan demikian,perubahan peraturan di masa mendatangmungkin dapat mempengaruhi secaramaterial laporan keuangan konsolidasianGrup.

Provision for mine closures has beencalculated based on current regulations.However, there is no guarantee that theregulations will not change. The futurechanges may require more stringentactivities to be undertaken for mineclosure and post mining activities tosatisfy political, environmental, safety andpublic expectations. As such, changes inthe future requirements or regulationscould have a material impact to theGroup’s consolidated financial statements.

Guidance notesManagement within Group has to assess the level of significance of accounting estimates. Those estimates andassumptions that carry a significant risk of causing material adjustments to the carrying amounts of assets andliabilities within the next financial year should be assessed and disclosed in the financial statements.






BR-83 4. KOMBINASI BISNIS 4. BUSINESS COMBINATIONS

22pB64(a)22pB64(b)22pB64(c)22pB64(d)BR-83

Pada tanggal 15 Januari 2013, Grupmengakuisisi PT Mining Mandiri Indonesiasebesar 85% saham dan memperolehpengendalian atas PT Mining MandiriIndonesia. Jumlah imbalan yang dialihkanadalah AS$68.127.

On 15 January 2013, the Group acquired 85%of the share capital of PT Mining MandiriIndonesia and obtained control of PT MiningMandiri Indonesia. The total considerationwas US$68,127.

22pB64(d)BR-83

Akuisisi atas PT Mining Mandiri Indonesiadiharapkan dapat meningkatkan keberadaanGrup dalam industri pertambangan.

The acquisition of PT Mining MandiriIndonesia is expected to increase the Group’spresence in the mining industry.

22pB64(e)22pB64(k)BR-83

Goodwill sebesar AS$19.434 yang timbul dariakuisisi tersebut diatribusikan kepada sinergisecara operasi yang diharapkan akan diperolehdengan menggabungkan operasi Grup dan PTMining Mandiri Indonesia. Goodwill yangdiakui tidak dapat menjadi pengurang pajakpenghasilan.

The goodwill of US$19,434 arising from theacquisition is attributable to the operationalsynergy expected to arise from combining theoperations of the Group and PT MiningMandiri Indonesia. Recognised goodwill isnon-deductible for income tax purposes.

BR-83BR-86

Tabel berikut ini merangkum harga perolehanPT Mining Mandiri Indonesia dan jumlah asetyang diperoleh dan liabilitas yang diambil-alihpada tanggal akuisisi.

The following table summarises theconsideration paid for PT Mining MandiriIndonesia and the amounts of the assetsacquired and liabilities assumed recognised atthe acquisition date.

BR-83 Nilai wajar/BR-86 Fair value2p37(c)2p37(d) Kas dan setara kas 2,620 Cash and cash equivalents2pB64 (o)(i) Piutang usaha dan lain-lain 1,700 Trade and other receivables22pB64(k) Persediaan 1,340 Inventories

Pajak dibayar dimuka 225 Prepaid taxesAset eksplorasi dan evaluasi 2,567 Exploration and evaluation assetsAset tetap 50,796 Property, plant and equipmentProperti pertambangan 23,102 Mining propertiesUtang usaha (3,400) Trade payablesBeban akrual (1,200) Accrued expensesProvisi reklamasi dan penutupan Provision for reclamation and

tambang (4,913) mine closureUtang sewa pembiayaan (2,500) Finance lease payablesUtang lainnya (13,587) Other liabilitiesLiabilitas pajak tangguhan (130) Deferred tax liabilities

Jumlah aset teridentifikasi neto 56,620 Identifable net assets

Kepentingan nonpengendali (7,927) Non-controlling interest

Goodwill (Catatan 15) 19,434 Goodwill (Note 15)

68,127

Harga perolehan melalui Purchase consideration throughpembayaran kas 68,127 cash payment

Kas dan setara kas pada Cash and cash equivalents inPT Mining Mandiri Indonesia (2,620) PT Mining Mandiri Indonesia

Arus kas keluar neto dari akuisisi Net cash outflow fromentitas anak 65,507 acquisition of subsidiary






BR-83 4. KOMBINASI BISNIS (lanjutan) 4. BUSINESS COMBINATIONS (continued)

22p53

BR-83

Biaya yang terkait dengan akuisisi sebesarAS$1.050 telah dibebankan pada bebanadministrasi pada laba rugi untuk tahun yangberakhir pada 31 Desember 2013.

Acquisition related costs of US$1,050 havebeen charged to administrative expenses inprofit or loss for the year ended 31 December2013.

22pB64(h)(i),(ii),(iii)BR-83

Nilai wajar piutang usaha dan piutang lain-lainsebesar AS$1.700, termasuk di dalamnyapiutang usaha dengan nilai wajar sebesarAS$1.600. Jumlah kontraktual bruto piutangusaha adalah AS$1.800, dimana sebesarAS$200 diperkirakan tidak dapat ditagih.

The fair value of trade and other receivables isUS$1,700 and includes trade receivables witha fair value of US$1,600. The grosscontractual amount for trade receivables isUS$1,800, of which US$200 is expected to beuncollectible.

BR-83 Nilai wajar dari kepentingan nonpengendalipada PT Mining Mandiri Indonesia,perusahaan yang tidak terdaftar di bursa,diestimasikan dengan menggunakan hargapembelian yang dibayar untuk mengakuisisi85% kepentingan pada PT Mining MandiriIndonesia. Harga pembelian tersebut telahdisesuaikan dengan kurangnya pengendaliandan kurangnya kemampuan untuk dipasarkanyang akan dipertimbangkan oleh partisipanpasar dalam mengestimasi nilai wajarkepentingan nonpengendali pada PT MiningMandiri Indonesia.

The fair value of the non-controlling interest inPT Mining Mandiri Indonesia, an unlistedcompany, was estimated by using the purchaseprice paid for the acquisition of an 85% stake inPT Mining Mandiri Indonesia. This purchaseprice was adjusted to reflect the lack of controland lack of marketability that marketparticipants would consider when estimatingthe fair value of the non-controlling interest inPT Mining Mandiri Indonesia.

22pB64(q)(i)BR-84BR-85

Pendapatan PT Mining Mandiri Indonesiayang termasuk di dalam laporan laba rugisejak 15 Januari 2013 sebesar AS$174.240. PTMining Mandiri Indonesia juga memberikankontribusi laba sebesar AS$46.197 selamaperiode yang sama.

The revenue included in the profit or loss since15 January 2013 contributed by PT MiningMandiri Indonesia was US$174,240. PT MiningMandiri Indonesia also contributed a profit ofUS$46,197 over the same period.

BR-86 Akuisisi PT Mining Mandiri Indonesia telahdilakukan sesuai dengan peraturan yangdikeluarkan oleh Bapepam-LK.

The acquisition of PT Mining MandiriIndonesia has been conducted in accordancewith the Bapepam-LK Regulations.

Guidance notesProvisional fair values and subsequent adjustments during the measurement periodIf the initial accounting for a business combination is incomplete by the end of the reporting period in which thecombination occurs, the acquirer shall report in its financial statements the provisional amounts of items for which theaccounting is incomplete. (SFAS 22 par 45)

During the measurement period, the acquirer shall retrospectively adjust the provisional amounts recognised at theacquisition date to reflect new information obtained about facts and circumstances that exist as at the acquisition dateand, if known, would have affected the measurement of the amounts recognised as at that date. The acquirer shalldisclose information that enables users of financial statements to evaluate the financial effects of adjustments recognised.






2p44BR-51

5. KAS DAN SETARA KAS 5. CASH AND CASH EQUIVALENTS

2013 2012

Kas 3,171 3,441 Cash on hand

Kas pada bank Cash in bankRupiah: Rupiah:

PT Bank Megah 13,254 12,320 PT Bank Megah

Dolar AS: US Dollar:PT Bank Dana Abadi 12,012 9,874 PT Bank Dana AbadiUnited Nation Bank 9,375 3,924 United Nation BankDiamond Bank 7,601 4,559 Diamond BankPT Bank DB 7,200 6,671 PT Bank DBPT Bank London 5,312 3,469 PT Bank LondonPT Bank PWC 3,524 1,305 PT Bank PWC

45,024 29,802

Jumlah kas pada bank 58,278 42,122 Total cash in banks

Deposito jangka pendek Short-term depositsDolar AS: US Dollar:

PT Bank Dana Abadi 23,169 18,850 PT Bank Dana AbadiPT Bank Megah 21,219 17,067 PT Bank Megah

Jumlah deposito jangka pendek 44,388 35,917 Total short-term deposits

Jumlah kas dan setara kas 105,837 81,480 Total cash and cash equivalents

Tidak ada kas dan setara kas dengan pihakberelasi.

There are no cash and cash equivalents withrelated parties.

Tidak terdapat pembatasan pemakaian kas dansetara kas Grup. Kas pada bank dapat ditariksetiap saat dan deposito berjangka dapatditarik pada saat jatuh tempo.

There are no restrictions on the use of theGroup’s cash and cash equivalents. Cash inbanks can be withdrawn at any time and timedeposits can be withdrawn at maturity.

Tingkat suku bunga kontraktual untuk kaspada bank dan deposito bank jangka pendekselama tahun berjalan adalah sebagai berikut:

Contractual interest rates on cash in bank andshort-term bank deposits during the year areas follow:

2013 2012

Dolar AS 0.30% - 2.50% 0.50% - 2.00% US DollarsRupiah 3% - 4% 3% - 4% Rupiah






BR-52 6. PIUTANG USAHA 6. TRADE RECEIVABLES

2013 2012

1p76(b) Pihak ketiga 34,712 29,267 Third partiesProvisi atas penurunan nilai (460) (240) Provision for impairment

34,252 29,027

1p76(b) Pihak berelasi (Catatan 34e) 5,978 3,827 Related parties (Note 34e)

Jumlah piutang usaha, neto 40,230 32,854 Total trade receivables, net

Piutang usaha berdasarkan mata uang adalahsebagai berikut:

Trade receivables based on currencies are asfollows:

2013 2012

Rupiah 6,937 10,170 RupiahDolar AS 33,753 22,924 US Dollar

40,690 33,094

60p2660p32(a)55PA100

Karena jatuh temponya yang pendek, jumlahtercatat piutang usaha kurang lebih samadengan nilai wajarnya.

Due to the short-term nature of tradereceivables, their carrying amount approximatestheir fair values.

60p39(c)BR-90

Pada tanggal 31 Desember 2013, piutang usahasebesar AS$33.790 (2012: AS$22.240) belumjatuh tempo dan tidak mengalami penurunannilai.

As at 31 December 2013, trade receivables ofUS$33,790 (2012: US$22,240) were not yet pastdue or impaired.

60p40(a)BR-90

Pada tanggal 31 December 2013, piutang usahasebesar AS$6.430 (2012: AS$10.589) telahlewat jatuh tempo namun tidak mengalamipenurunan nilai. Hal ini terkait dengansejumlah pelanggan yang tidak memilikisejarah gagal bayar. Analisis umur piutangusaha ini adalah sebagai berikut:

As at 31 December 2013, trade receivables ofUS$6,430 (2012: US$10,589) were past due butnot impaired. These relate to a number ofindependent customers for whom there is norecent history of default. The aging analysis ofthese trade receivables is as follows:

2013 2012

Sampai dengan 3 bulan 5,430 9,339 Up to 3 months3 sampai 6 bulan 1,000 1,250 3 to 6 months

6,430 10,589

60p40(b)BR-52

60p39(c)

Pada tanggal 31 Desember 2013, piutang usahasebesar AS$470 (2012: AS$265) mengalamipenurunan nilai dan telah diprovisikan sebesarAS$460 (2012: AS$240). Piutang individualyang diturunkan nilainya, terkait denganpelanggan yang secara tidak terdugamengalami situasi ekonomi yang sulit.Sebagian piutang ini diharapkan dapatdipulihkan. Umur piutang usaha adalahsebagai berikut:

As at 31 December 2013, trade receivables ofUS$470 (2012: US$265) were impaired andbeing provided for the provision of US$460 asat 31 December 2013 (2012: US$240). Theindividually impaired receivables, related tocustomers in unexpectedly difficult economicsituations. It was assessed that a portion of thereceivables are expected to be recovered. Theaging of these receivables is as follows:

2013 2012

3 sampai 6 bulan 400 202 3 to 6 monthsLebih dari 6 bulan 70 63 Over 6 months

470 265






BR-52 6. PIUTANG USAHA (lanjutan) 6. TRADE RECEIVABLES (continued)

60p17BR-52

Mutasi provisi penurunan nilai piutang usahaadalah sebagai berikut:

Movements in the Group’s provision forimpairment of trade receivables are as follows:

2013 2012

Pada awal tahun (240) (160) At beginning of the yearProvision for impairment

Provisi penurunan nilai piutang (230) (230) of receivablesPiutang yang dihapus selama

tahun berjalan karena Receivables written off duringtidak dapat ditagih 10 - the year as uncollectible

Jumlah yang dibalik karenatidak digunakan - 150 Unused amounts reversed

Pada akhir tahun (460) (240) At end of the year

Penyisihan dan pelepasan provisi penurunannilai piutang dicatat dalam “beban penurunannilai” (Catatan 30) pada laba rugi. Jumlahyang dibebankan pada akun penyisihanbiasanya dihapus ketika tidak terdapatekspektasi untuk dapat memulihkan uangtersebut.

The allowance and release of the provision forimpaired receivables have been included in“impairment charges” (Note 30) in profit or loss.Amounts charged to the allowance account aregenerally written off when there is noexpectation of recovering additional cash.

60p39(a) Eksposur maksimum risiko kredit padatanggal pelaporan adalah sebesar nilai tercatatmasing–masing kategori piutang yangdisebutkan diatas. Grup tidak menguasai asetsebagai jaminan piutang.

The maximum exposure to credit risk at thereporting date is the carrying value of each classof receivables mentioned above. The Group doesnot hold any collateral as security.

BR-52 Manajemen berkeyakinan bahwa penyisihanatas penurunan nilai piutang tersebut cukupuntuk menutupi kerugian dari tidaktertagihnya piutang usaha.

Management believes that the provision forimpairment of receivables is adequate to coverlosses on uncollectible trade receivables.

BR-55 7. BIAYA DIBAYAR DIMUKA 7. PREPAID EXPENSES

2013 2012

Asuransi 2,354 1,890 InsuranceSewa kantor 1,001 1,025 Office rentalSewa gudang 508 400 Warehouse rental

3,863 3,315

Asuransi dibayar dimuka merupakan asuransiuntuk aset tetap dan persediaan (Catatan 8 dan14).

Prepaid insurance represent insurance forproperty, plant and equipment and inventory(Notes 8 and 14).






BR-54 8. PERSEDIAAN 8. INVENTORIES

BR-54 2013 201214p35(b)

Persediaan batubara 8,072 6,258 Coal inventoryPerlengkapan dan bahan

pendukung 3,930 3,457 Tools and suppliesSuku cadang 2,679 1,217 Spare partsBahan bakar dan minyak pelumas 1,481 764 Fuels and lubricants

16,162 11,696

14p35(d)BR-54

Jumlah persediaan, selain persediaanbatubara, yang diakui sebagai beban dantermasuk dalam beban pokok pendapatansebesar AS$22.461 (2012: AS$19.946).

The cost of inventories, other than coal inventory,recognised as expense and included in cost ofrevenue amounted to US$22,461 (2012:US$19,946).

Manajemen Grup berpendapat bahwa semuapersediaan dapat digunakan atau dijual.Selain itu, nilai realisasi bersih persediaanmasih melebihi nilai tercatat persediaan,sehingga tidak diperlukan adanya provisipersediaan usang dan penurunan nilai.

The Group’s management is of the opinion that theinventories can be either used or sold. In addition,the net realisable value of inventories exceed thecarrying value of inventories, and therefore aprovision for obsolete stock and decline in value isnot considered necessary.

BR-43 Pada tanggal 31 Desember 2013, persediaanGrup telah diasuransikan terhadap semuarisiko kerusakan dengan jumlahpertanggungan sebesar AS$14.106 (2012:AS$11.000). Manajemen Grup berpendapatbahwa persediaan pada tanggal 31 Desember2013 dan 2012 telah diasuransikan secaramemadai.

As at 31 December 2013, the Group’s inventorieswere insured against all risks of damage, withtotal coverage of approximately US$14,106 (2012:US$11,000). The Group’s management believesthat the inventories as at 31 December 2013 and2012 were adequately insured.

BR-56 9. INVESTASI PADA ENTITAS ASOSIASI 9. INVESTMENTS IN ASSOCIATES

2013 2012

Pada awal tahun 7,034 6,277 At beginning of the year15p33 Bagian keuntungan 2,745 1,057 Share of net income

Pembagian dividen (1,000) (300) Dividend distribution

Pada akhir tahun 8,779 7,034 At end of the year

Guidance notesSpare parts, and servicing equipment are usually carried as inventory and recognised in profit or loss as consumed.However, major spare parts, and stand-by equipment qualify as property, plant and equipment when an entity expectsto use them during more than one period. Similarly, if the spare parts and servicing equipment can be used only inconnection with an item property, plant and equipment, they are accounted for as property, plant and equipment.[SFAS 16 para 8].






BR-56 9. INVESTASI PADA ENTITAS ASOSIASI(lanjutan)

9. INVESTMENTS IN ASSOCIATES(continued)

15p32(b)BR-56

Bagian Grup atas hasil entitas asosiasi utamadan aset agregat (termasuk goodwill) danliabilitas adalah sebagai berikut:

The Group’s share of the results of its principalassociates and its aggregated assets (includinggoodwill) and liabilities are as follows:

Negara %domisili / kepemilikan/

Country of Aset/ Liabilitas/ Pendapatan/ Laba/(rugi)/ % interestdomicile Assets Liabilities Revenue Profit/(loss) held

2013PT Mining Semesta

Indonesia Indonesia 6,655 2,534 4,998 1,344 40PT Mining Sarana

Indonesia Indonesia 8,549 3,891 6,420 1,401 16

2012PT Mining Semesta

Indonesia Indonesia 2,762 558 1,420 206 40PT Mining Sarana

Indonesia Indonesia 6,084 1,254 4,256 851 16

15p32(a)BR-56

Pada tanggal 31 Desember 2013, nilai wajarkepemilikan saham Grup pada PT MiningSemesta Indonesia, perusahaan yang terdaftarpada Power World City Stock Exchange, adalahAS$4.980 (2012: AS$2.575) dan nilai tercatatdari kepemilikan saham Grup adalah AS$4.371(2012: AS$2.454).

As at 31 December 2013, the fair value of theGroup’s interest in PT Mining SemestaIndonesia, which is listed on the Power WorldCity Stock Exchange, was US$4,980 (2012:US$2,575) and the carrying amount of theGroup’s interest was US$4,371 (2012:US$2,454).

15p32(c)BR-56

Meskipun Grup memiliki kurang dari 20%saham PT Mining Sarana Indonesia, Grupmemiliki pengaruh signifikan denganmenjalankan hak kontraktualnya melaluipenunjukkan dua direktur pada direksi entitastersebut serta memiliki kekuatan untukberpartisipasi dalam pengambilan keputusankeuangan dan operasi PT Mining SaranaIndonesia.

Although the Group holds less than 20% of theequity shares of PT Mining Sarana Indonesia,the Group exercises significant influence byvirtue of its contractual right to appoint twodirectors to the board of directors of that entityand has the power to participate in the financialand operating policy decisions of PT MiningSarana Indonesia.

BR-52 10. ASET KEUANGAN TERSEDIA UNTUKDIJUAL

10. AVAILABLE-FOR-SALE FINANCIALASSETS

2013 2012

Pada awal tahun 380 360 At beginning of the yearPenambahan 1,500 - AdditionsKeuntungan yg belum direalisasi 120 20 Unrealised gains

Pada akhir tahun 2,000 380 At end of the year

Guidance notesUnder the existing Indonesian tax laws and regulation, dividend paid by a limited liability company incorporated inIndonesia is subject to non-final withholding tax if the shareholder owns less than 25% of shareholding equity. Atemporary difference may arise between the investment's carrying amount in the consolidated financial statements andits tax base (outside basis difference). As such, the reporting entity should recognise the deferred tax related to thosedifferences.

In practice, however, there are complexities to the tax treatment of an investment in associates. Consequently, theresulting tax effects may also be different due to the uncertainties involved. We recommend reporting entities to consultwith your PwC contact members to discuss this matter further.






BR-52 10. ASET KEUANGAN TERSEDIA UNTUKDIJUAL (lanjutan)

10. AVAILABLE-FOR-SALE FINANCIALASSETS (continued)

60p37BR-52

Aset keuangan tersedia untuk dijual terdiridari:

Available-for-sale financial assets include thefollowing:

2013 2012

Efek ekuitas yang diperdagangkan di : Listed equity securities:Bursa saham Power World City 2,000 380 Power World City Stock Exchange

60p37(c) Aset keuangan tersedia untuk dijualdidenominasikan dalam mata uang Dolar AS.

Available-for-sale financial assets aredenominated in US Dollars.

33p06BR-25

11. BIAYA PENGUPASAN LAPISAN TANAHYANG DITANGGUHKAN

11. DEFERRED STRIPPING COSTS

2013 2012

Nilai tercatat - saldo awal 13,400 9,893 Carrying amount – beginning balancePenambahan pada biaya

pengupasan lapisan tanah yangditangguhkan 12,218 4,400 Addition of deferred stripping costs

Dibebankan dalam laba-rugi (3,700) (893) Charged to profit or loss

21,918 13,400

33p0633p07BR-25

Penambahan biaya pengupasan lapisan tanahyang ditangguhkan selama tahun berjalandikarenakan rasio aktual nisbah kupas rata-rataberbeda signifikan dengan rasio nisbah kupasyang direncanakan.

Additional deferred stripping costs recognisedduring the year was due to the actual averagestripping ratio significantly exceeding theplanned stripping ratio.

64p15 12. ASET EKSPLORASI DAN EVALUASI 12. EXPLORATION AND EVALUATIONASSETS

2013Mutasi ke

Saldo Dari pertambangan yangawal/ akuisisi/ sedang dikembangkan/ Saldo akhir/

Beginning Penambahan/ From Transfer to mines Endingbalance Additions acquisition under development balance

Tambang Pandawa 1 1,005 121 - - 1,126 Pandawa 1 MineTambang Mari Mari 3,416 784 - (4,200) - Mari Mari MineTambang Pandawa 2 877 1,300 - - 2,177 Pandawa 2 MineTambang Panajakan - 430 2,567 - 2,997 Panajakan Mine

5,298 2,635 2,567 (4,200) 6,300

2012Mutasi ke

Saldo Dari pertambangan yangawal/ akuisisi/ sedang dikembangkan/ Saldo akhir/

Beginning Penambahan/ From Transfer to mines Endingbalance Additions acquisition under development balance

Tambang Pandawa 1 740 265 - - 1,005 Pandawa 1 MineTambang Mari Mari 2,352 1,064 - - 3,416 Mari Mari MineTambang Pandawa 2 420 457 - - 877 Pandawa 2 Mine

3,512 1,786 - - 5,298

64b18BR-25

Manajemen Grup berpendapat bahwa tidakterdapat fakta dan kondisi selama tahun berjalanyang mengindikasikan adanya penuruan nilaiatas aset eksplorasi dan evaluasi. Karena itu,tidak terdapat penurunan nilai atas nilai tercatataset eksplorasi dan evaluasi.

The Group’s management is of the opinionthat there are no facts and circumstancesduring the year that indicate that theexploration and evaluation assets areimpaired. As such, there has been noimpairment of the carrying amounts ofexploration and evaluation assets.






BR12BR46BR61

13. PROPERTI PERTAMBANGAN 13. MINING PROPERTIES

2013Pertambangan Pertambangan

yang sedang yangdikembangkan/ berproduksi/

Mines under Mines in Jumlah/development production Total

Harga perolehan Acquisition costsNilai tercatat – Carrying amount –

saldo awal 24,174 9,700 33,874 beginning balanceAkuisisi - 23,102 23,102 AcquisitionsPenambahan 9,926 - 9,926 AdditionMutasi ke tambang operasi (4,467) 4,467 - Transfer to operating mineMutasi dari aset eksplorasi Transfer from exploration

dan evaluasi 4,200 - 4,200 and evaluation assets

33,833 37,269 71,102

Akumulasi Accumulatedamortisasi amortisation

Nilai tercatat - Carrying amount –saldo awal - (5,001) (5,001) beginning balance

Amortisasi - (3,205) (3,205) Amortisation

- (8,206) (8,206)

33,833 29,063 62,896

2012Pertambangan Pertambangan

yang sedang yangdikembangkan/ berproduksi/

Mines under Mines in Jumlah/development production Total

Harga perolehan Acquisition costsNilai tercatat – Carrying amount –

saldo awal 20,900 8,500 29,400 beginning balancePenambahan 3,274 1,200 4,474 Addition

24,174 9,700 33,874

Akumulasi Accumulatedamortisasi amortisation

Nilai tercatat - Carrying amount –saldo awal - (3,479) (3,479) beginning balance

Amortisasi - (1,522) (1,522) Amortisation

- (5,001) (5,001)

24,174 4,699 28,873

Seluruh amortisasi properti pertambangandialokasikan ke beban pokok pendapatan.

All amortisation of mining properties wasallocated to the cost of revenue.

BR 12 Manajemen berpendapat bahwa tidak terdapatpenurunan atas nilai tercatat propertipertambangan.

Management is of the opinion that there hasbeen no impairment of the carrying amounts ofmining properties.






BR-59 14. ASET TETAP 14. PROPERTY, PLANT AND EQUIPMENT

2013Saldoawal/ Saldo akhir/

Beginning Akuisisi/ Penambahan/ Reklasifikasi/ Pengurangan/ Endingbalance Acquisition Additions Reclassification Disposals balance

Harga perolehan Acquisition costAset kepemilikan

langsung: Direct ownership assets:Hak atas tanah 32,984 11,569 - - - 44,553 Land rightsBangunan 45,425 14,962 10,890 - (1,575) 69,702 BuildingsFasilitas infrastruktur 41,823 10,030 12,670 - - 74,523 Infrastructure facilitiesKendaraan dan mesin 64,429 14,415 7,131 5,670 (4,094) 77,551 Vehicles and machineriesPeralatan proyek dan Project equipment and

peralatan tambang 26,451 7,886 9,084 568 (4,789) 39,200 mining equipment

211,112 58,862 39,775 6,238 (10,458) 305,529

Aset sewa pembiayaan: Leased assets:Kendaraan dan mesin 13,868 - 5,372 (5,670) - 13,570 Vehicles and machineriesPeralatan proyek dan Project equipment and

peralatan tambang 7,917 - 2,932 (568) - 10,281 mining equipment

21,785 - 8,304 (6,238) - 23,851Aset dalam

penyelesaian - - 14,174 - - 14,174 Construction in progress

232,897 58,862 62,253 - (10,458) 343,554

AccumulatedAkumulasi penyusutan depreciationAset kepemilikan

langsung: Direct ownership assets:Bangunan (6,390) (2,500) (2,883) - 475 (11,298) BuildingsFasilitas infrastruktur (11,837) (320) (5,040) - - (17,197) Infrastructure facilitiesKendaraan dan mesin (21,613) (2,848) (8,007) (555) 3,424 (29,599) Vehicles and machineriesPeralatan proyek dan Project equipment and

peralatan tambang (15,075) (2,398) (7,541) (123) 3,878 (21,259) mining equipment

(54,915) (8,066) (23,471) (678) 7,777 (79,353)

Aset sewa pembiayaan: Leased assets:Kendaraan dan mesin (1,740) - (480) 555 - (1,665) Vehicles and machineriesPeralatan proyek dan Project equipment and

peralatan tambang (971) - (230) 123 - (1,078) mining equipment

(57,626) (8,066) (24,181) - 7,777 (82,096)

Nilai buku bersih 175,271 261,458 Net book value

2012Saldoawal/ Saldo akhir/

Beginning Akuisisi/ Penambahan/ Reklasifikasi/ Pengurangan/ Endingbalance Acquisition Additions Reclassification Disposals balance

Harga perolehan Acquisition costAset kepemilikan

langsung: Direct ownership assets:Hak atas tanah 32,984 - - - - 32,984 Land rightsBangunan 40,792 - 4,633 - - 45,425 BuildingsFasilitas infrastruktur 39,185 - 2,638 - - 41,823 Infrastructure facilitiesKendaraan dan mesin 61,290 - 5,498 - (2,359) 64,429 Vehicles and machineriesPeralatan proyek dan Project equipment and

peralatan tambang 23,085 - 5,256 - (1,890) 26,451 mining equipment

197,336 - 18,025 - (4,249) 211,112

Aset sewa pembiayaan: Leased assets:Kendaraan dan mesin 11,650 - 2,218 - - 13,868 Vehicles and machineriesPeralatan proyek dan Project equipment and

peralatan tambang 6,672 - 1,245 - - 7,917 mining equipment

18,322 - 3,463 - - 21,785

215,658 - 21,488 - (4,249) 232,897

AccumulatedAkumulasi penyusutan depreciationAset kepemilikan

langsung: Direct ownership assets:Bangunan (4,254) - (2,136) - - (6,390) BuildingsFasilitas infrastruktur (7,907) - (3,930) - - (11,837) Infrastructure facilitiesKendaraan dan mesin (14,768) - (8,045) - 1,200 (21,613) Vehicles and machineriesPeralatan proyek dan Project equipment and

peralatan tambang (9,494) - (6,301) - 720 (15,075) mining equipment

(36,423) - (20,412) - 1,920 (54,915)

Aset sewa pembiayaan: Leased assets:Kendaraan dan mesin (1,382) - (358) - - (1,740) Vehicles and machineriesPeralatan proyek dan Project equipment and

peralatan tambang (791) - (180) - - (971) mining equipment

(38,596) - (20,950) - 1,920 (57,626)

Nilai buku bersih 177,062 175,271 Net book value






BR-59 14. ASET TETAP (lanjutan) 14. PROPERTY, PLANT AND EQUIPMENT(continued)

25p39 Pada bulan Juni 2013, Grup melakukanpeninjauan kembali atas masa manfaat asettetap. Berdasarkan hasil reviu, Grup merevisimasa manfaat atas beberapa jenis mesin dari 8tahun menjadi 4 tahun. Atas perubahan ini,beban penyusutan Grup per bulan menjadi lebihbesar AS$150.

In June 2013, the Group performed a review ofthe useful lives of property, plant andequipment. Based on the review results, theGroup revised useful lives of several types ofmachinaries from 8 years to 4 years. As result ofthis change, the Group recognised highermonthly depreciation expenses amounting toUS$150.

1p55(b)BR-59

Beban penyusutan untuk tahun yang berakhirpada tanggal 31 Desember 2013 dan 2012,dialokasikan sebagai berikut:

Depreciation expenses for the years ended 31December 2013 and 2012 were allocated asfollow:

2013 2012

Beban pokok pendapatan 22,488 19,484 Cost of revenueBeban umum dan administrasi 1,693 1,466 Operating expenses

24,181 20,950

Hak atas tanah diperoleh berdasarkan SertifikatHak Guna Bangunan (“HGB”) yang dapatdiperbaharui dengan masa yang akan berakhirantara tahun 2024 sampai 2027. Mengacu padapraktik di masa lampau, Grup memilikikeyakinan dapat memperpanjang HGB tersebut.

Land rights are held under renewable BuildingRight Titles (“HGB”) which expire between 2024and 2027. With reference to historical practices,the Group believe that they can renew theseHGBs.

BR-60 Aset dalam penyelesaian pada 31 Desember2013 terdiri dari:

Construction in progress as at 31 December 2013comprised of the following:

2013Persentase Akumulasi Estimasi

penyelesaian/ biaya/ penyelesaian/Aset dalam Percentage of Accumulated Estimated Construction

Penyelesaian completion costs completion in progress

Peralatan proyek dan 10%-35% 6,950 Desember/ Project equipment andperalatan tambang December 2016 mining equipment

Fasilitas infrastruktur 12%-33% 5,234 Mei/ May 2015 Infrastructure facilitiesLain-lain (masing-

masing di bawah Others (each belowAS$1.000) 1%-47% 1,990 Bervariasi/Various US$1,000)

14,174






BR-59 14. ASET TETAP (lanjutan) 14. PROPERTY, PLANT AND EQUIPMENT(continued)

BR-6026p26

Selama tahun berjalan, Grup telahmengkapitalisasi biaya pinjaman sebesarAS$452 (2012: AS$320) atas aset kualifikasian.Biaya pinjaman dikapitalisasi pada tingkatbunga rata-rata tertimbang dari pinjamanumum yaitu sebesar 2,5%.

During the year, the Group capitalisedborrowing costs amounting to US$452 (2012:US$320) on qualifying assets. Borrowing costswere capitalised at the weighted average rate ofits general borrowings of 2.5%.

BR-60 Aset tetap yang dilepas selama tahun 2013 dan2012 dijual sebesar nilai buku netonya. Jumlahpenjualan neto aset tetap selama tahun berjalanadalah AS$2.681 (2012: AS$2.329).

Property, plant and equipment disposed ofduring 2013 and 2012 were sold at the asset’snet book value. The total net selling value ofproperty, plant and equipment during the yearwas US$2,681 (2012: US$2,329).

BR-6016p80(d)

Selain tanah dan bangunan, tidak adaperbedaan yang signifikan antara nilai wajaraset tetap dengan nilai tercatatnya.

There is no significant difference between thefair value and carrying value of property, plantand equipment other than land and building.

16p75(a) Pinjaman kepada United Nation Bankdijaminkan dengan tanah bangunan danbeberapa fasilitas infrastruktur senilaiAS$100.000 (2012: AS$100.000) (Catatan 19a).

Borrowings from the United Nation Bank aresecured by land buildings and certaininfrastructure facilities for the value ofUS$100,000 (2012: US$100,000) (Note 19a).

30p30(e) Grup menyewa berbagai kendaraan dan mesinberdasarkan perjanjian sewa pembiayaan yangtidak dapat dibatalkan. Masa sewa berkisarantara 3 sampai 15 tahun dan Grup memegangpemilikan atas aset. Tidak ada dari aset sewatersebut yang disewakan kembali oleh Grupkepada pihak ketiga.

Pada tanggal 31 Desember 2013 dan 2012,seluruh aset sewa pembiayaan dijaminkanterhadap utang sewa pembiayaan (lihat Catatan19c) dan tidak ada aset tetap kepemilikanlangsung yang dijaminkan.

The Group leases various vehicles andmachinery under non-cancellable finance leaseagreements. The lease terms are between 3 and15 years, and ownership of the assets lies withthe Group. None of the leased assets were sub-leased by the Group to third parties.

As at 31 December 2013 and 2012, all leasedassets are pledged for finance leases payable(refer to Note 19c) and there are no directownership property, plant and equipment thathas been pledged.

BR-6016p80(a)16p80(b)

Seluruh aset tetap yang ada pada tanggalpelaporan digunakan untuk menunjang aktivitasoperasi Perusahaan. Aset-aset tersebut belumdisusutkan secara penuh.

All of the property, plant and equipment as atthe reporting date are fully used to support theCompany’s operation activities. These assets arenot yet fully depreciated.

BR-43 Pada tanggal 31 Desember 2013, aset tetap Gruptelah diasuransikan terhadap semua risikokerusakan dengan jumlah pertanggungansebesar AS$222.000 (2012: AS$167.000).Manajemen Grup berpendapat bahwa aset tetappada tanggal 31 Desember 2013 dan 2012 telahdiasuransikan secara memadai.

As at 31 December 2013, the Group’s property,plant and equipment were insured against allrisks of damage, with total coverage ofapproximately US$222,000 (2012:US$167,000). The Group’s managementbelieves that the property, plant and equipmentas at 31 December 2013 and 2012 wereadequately insured.

BR-60 15. ASET TAK BERWUJUD 15. INTANGIBLE ASSETS

2013 2012

Goodwill 68,462 49,028 GoodwillPiranti lunak 1,125 1,875 Software

69,587 50,903






BR-60 15. ASET TAKBERWUJUD (lanjutan) 15. INTANGIBLE ASSETS (continued)

Goodwill Goodwill

2013 2012

Nilai tercatat - saldo awal 49,028 49,028 Carrying amount – beginning balancePenambahan 19,434 - Addition

68,462 49,028

48p8048p125(d)(i)BR-82

Manajemen melakukan peninjauan ataskinerja bisnisnya berdasarkan segmen bisnis.Terdapat dua segmen yaitu penambanganbatubara dan jasa penambangan. Goodwillditinjau oleh manajemen berdasarkan segmenyang dilaporkan. Berikut ini adalah ikhtisardari alokasi goodwill pada setiap segmen yangdilaporkan:

Management reviews the business performancebased on the type of business. There are coalmining and mining services segments. Goodwillis monitored by management at the reportablesegment level. The following is a summary ofgoodwill allocation for each reportablesegment:

Penambanganbatubara/ Jasa penambangan/

Coal mining Mining services Total

31 Desember/December 2013 40,516 27,946 68,46231 Desember/December 2012 21,082 27,946 49,028

48p125(e)48p129(c)48p129(d)(iii)

Sesuai dengan kebijakan akuntansi Grup,manajemen melakukan pengujian penurunannilai atas goodwill secara tahunan dan untuktujuan pengujian penurunan nilai, asetdikelompokkan hingga unit terkecil yangmenghasilkan arus kas terpisah (unit penghasilkas). Tidak terdapat penurunan nilai yang diakuidalam laba rugi pada tahun 2013 dan 2012.

In accordance with the Group’s accountingpolicies, management tests goodwill annuallyfor impairment and for the purpose ofassessing impairment, assets are grouped atthe lowest level for which there is separatelyidentifiable cash flows (cash generating unit).There was no impairment recognised in profitor loss in 2013 and 2012.

Nilai terpulihkan dari unit penghasil kasditentukan berdasarkan nilai pakainya. Arus kasyang melampaui periode lima tahundiekstrapolasi dengan menggunakan tingkatpertumbuhan yang dinyatakan di tabel berikutini. Tingkat pertumbuhan tidak melebihi rata-rata tingkat pertumbuhan jangka panjangindustri di mana unit penghasil kas berada.

The recoverable amounts of the cash-generatingunits (“CGU”) have been determined based ontheir value-in-use. Cash flows beyond a five-year period are extrapolated using theestimated growth rates stated in the followingtable. The growth rate does not exceed the long-term average growth rate for the industries inwhich the CGU operates.

48p130(d) Asumsi utama yang digunakan dalamperhitungan nilai pakai pada 31 Desember 2013adalah sebagai berikut:

The key assumptions used for value-in-usecalculations as at 31 December 2013 are asfollow:

Penambangan Jasabatubara/ penambangan/

Coal mining Mining services

Tingkat pertumbuhan setelah limatahun/Growth rate after five years 3% 3%

Laba bruto/Gross margin 22%-26% 20%-25%Tingkat diskonto sebelum pajak/

Pre-tax discount rate 11% 12%

48p130(d) Manajemen menentukan marjin laba kotor yangdianggarkan berdasarkan kinerja masa lalu danharapan atas perkembangan pasar. Tingkatpertumbuhan rata-rata tertimbang yangdigunakan adalah konsisten dengan perkiraantermasuk dalam laporan industri. Tarif diskontoyang digunakan adalah sebelum pajak danmencerminkan risiko tertentu yang berkaitandengan segmen usaha yang relevan.

Management determined the budgeted grossmargin based on past performance and itsexpectations of market developments. Theweighted average growth rates used areconsistent with the forecasts included in industryreports. The discount rates used are pre-tax andreflect specific risks relating to the relevantoperating segments.






BR-60 15. ASET TAKBERWUJUD (lanjutan) 15. INTANGIBLE ASSETS (continued)

Goodwill (lanjutan) Goodwill (continued)

BR-6 Manajemen berpendapat bahwa tidak terdapatpenurunan atas nilai tercatat aset takberwujudpada tanggal 31 Desember 2013 dan 2012.

Management believes that there is noimpairment in the carrying amount of intangibleassets at 31 December 2013 and 2012.

48p129(f) Pada segmen penambangan batubara, jumlahyang dapat dipulihkan dihitung berdasarkannilai pakai yang lebih tinggi dari nilai tercatatsebesar AS$6.306. Pengurangan marjin brutosebesar 2,1%, atau penurunan tingkatpertumbuhan sebesar 1,6% atau kenaikantingkat diskonto menjadi 12,9% akanmenghapus kelebihan yang tersisa.

For the coal mining segment, the recoverableamount calculated based on value-in-useexceeded carrying value by US$6,306. Areduction in gross margin of 2.1%, or a fall ingrowth rate to 1.6% or a rise in discount rate to12.9% would eliminate the remaining headroom.

48p129(f) Pada segmen jasa penambangan, jumlah yangdapat dipulihkan dihitung berdasarkan nilaipakai yang lebih tinggi dari nilai tercatatsebesar AS$3.633. Pengurangan marjin brutosebesar 1,9%, atau penurunan tingkatpertumbuhan sebesar 2,2% atau kenaikantingkat diskonto menjadi 13,8% akanmenghapus kelebihan yang tersisa.

For the mining services segment, the recoverableamount calculated based on value-in-useexceeded carrying value by US$3,633. Areduction in gross margin of 1.9%, or a fall ingrowth rate to 2.2% or a rise in discount rate to13.8% would eliminate the remaining headroom.

Piranti lunak Software

Beban amortisasi untuk tahun yang berakhir pada31 Desember 2013 dan 2012 masing-masingsebesar AS$750 dibebankan pada beban umumdan administrasi.

Amortisation expenses for the years ended 31December 2013 and 2012 each amounting toUS$750 were charged to general andadministrative expenses.

BR-62 16. UTANG USAHA 16. TRADE PAYABLES

2013 2012

Pihak ketiga 34,507 14,314 Third parties

Saldo utang usaha terutama berasal daripembelian bahan bakar minyak, suku cadang,jasa perbaikan dan pemeliharaan, jasapengangkutan, dan jasa penambanganbatubara.

Trade payables balances mainly arose from thepurchases of fuel, spare parts, repair andmaintenance services, coal transportationservices and coal mining services.

BR-62 Rincian utang usaha berdasarkan mata uangadalah sebagai berikut:

Details of trade payables by currency are asfollow:

2013 2012

Dolar AS 22,246 6,340 US DollarsRupiah 10,904 6,800 RupiahEuro 707 500 EurosPound Sterling Inggris 650 674 Great Britain Pounds Sterling

34,507 14,314

Guidance notes:Disclosure of long-term growth rates and discount rates is required. Other key assumptions are required to be disclosedand quantified where a reasonably possible change in the key assumption would remove any remaining headroom inthe impairment calculation.






BR-63 17. BEBAN AKRUAL 17. ACCRUED EXPENSES

2013 2012

Bunga 2,674 2,773 InterestPengangkutan dan sewa kapal 1,353 1,224 Barging and vessel rentalJasa pertambangan 1,199 2,067 Mining servicesPembelian bahan bakar 845 750 Fuel purchasingDeadrent 255 233 DeadrentLainnya 61 666 Others

6,387 7,713

18. UTANG IURAN EKSPLOITASI 18. EXPLOITATION FEE PAYABLE

2013 2012

Utang iuran eksploitasi Exploitation fee payable tokepada Pemerintah 4,403 3,408 the Government

Utang iuran eksploitasi subjek diaudit olehDirektorat Pembinaan Pengusahaan Mineraldan Batubara, Kementerian Energi danSumber Daya Mineral (“KESDM”).

Exploitation fee payable is subject to an audit bythe Directorate of Mineral and Coal BusinessSupervision, the Ministry of Energy and MineralResources (“MoEMR”).

BR-63 19. PINJAMAN 19. BORROWINGS

2013 2012

Pihak ketiga: Third parties:Jangka panjang Non-current

Utang sewa pembiayaan 11,388 6,102 Finance lease payablesUtang bank 44,500 36,500 Bank loansObligasi konversi 95,127 95,088 Convertible bonds

151,015 137,690

Jangka pendek CurrentUtang bank 39,000 23,250 Bank loansUtang sewa pembiayaan 3,018 1,451 Finance lease payables

42,018 24,701

BR-64 (a) Utang bank (a) Bank loans

Rincian pinjaman bank Grup pada tanggal 31Desember 2013 dan 2012 adalah sebagaiberikut:

Details of the Group’s bank loans as at 31December 2013 and 2012 were as follow:

2013 2012Jumlah tercatat/ Jumlah tercatat/

Carrying amount Carrying amount

Setara SetaraMata uang asal/ Dolar AS/ Mata uang asal/ Dolar AS/

Kreditur/ Mata uang/ Original Equivalent Original EquivalentCreditor Currency currency in US Dollars currency in US Dollars

United Nation Bank US$ 83,500 83,500 59,750 59,750

Bagian lancar/Current portion (39,000) (23,250)

Bagian jangka panjang/Long-term portion 44,500 36,500






BR-63 19. PINJAMAN (lanjutan) 19. BORROWINGS (continued)

BR-64 (a) Utang bank (lanjutan) (a) Bank loans (continued)

BR - 64 Beberapa informasi lain yang signifikanterkait dengan utang bank pada tanggal 31Desember 2013 dan 2012 adalah sebagaiberikut:

Other significant information related tobank loans as at 31 December 2013 and2012 are as follows:

JumlahFasilitas/ Periode Tingkat suku

Total facility Periode pembayaran bunga perMata (dalam pinjaman/ bunga/ tahun/

Kreditur/ uang/ Dolar AS/ Loan Interest Annual Jaminan/Creditor Currency in US Dollar) term payment period interest rate Collateral

31 Juli/July2013 - Tahunan/ Aset tetap/

United Nation 31 Juli/July Annually Property, plantBank US$ 100,000 2015 Tahunan/Annually LIBOR + 2.5% and equipment

BR-64 Pinjaman ini ditujukan untuk mendanaibelanja modal proyek-proyek Perusahaandan/atau Entitas Anak, aktivitas umum danbiaya tertentu sehubungan denganperjanjian.

This borrowing is intended to finance thecapital expenditures of the Company’sand/or Subsidiaries’s projects, generalactivities and certain costs relating to theagreement.

BR-64 Dalam perjanjian pinjaman dengan UnitedNation Bank, diatur beberapa pembatasanyang harus dipenuhi oleh Grup antara lain:

Tidak diperkenankan melakukanperubahan terhadap bisnis utamasecara substansial tanpa persetujuantertulis dari pemberi pinjaman

Grup diwajibkan untuk memenuhipersyaratan keuangan tertentu sepertimenjaga rasio utang terhadap ekuitastidak melebihi 100% dan rasio lancartidak kurang dari 1:1, dan

Tidak diperkenankan mengubahperuntukkan aset yang dijaminkanatau menjaminkan kembali aset yangdijaminkan tersebut untukmemperoleh fasilitas pinjaman darikreditur lain.

In the borrowing agreement with theUnited Nation Bank, there are severalrestrictions that have to be fulfilled by theGroup, such as:

Restricted to make substantial changeto the principal business purposeswithout prior written consent of thelender

The Group is obliged to meet certainfinancial requirement such asmaintaining the debt to equity ratio notto exceed 100% and maintaining acurrent ratio of not less than 1:1, and

Restricted to make changes to thepurpose of collateralised assets fromwhat have been intended before orusing collateralised assets as acollateral to obtain borrowing facilityfrom other creditors.







(a) Utang bank (lanjutan) (a) Bank loans (continued)

BR-64BR-90

Grup telah memenuhi batasan-batasan yangdiwajibkan dalam perjanjian pinjamantersebut.

The Group has complied with the covenantsin the borrowing agreement.

2p49(a)BR-91BR-64

Grup memiliki fasilitas pinjaman yangbelum digunakan senilai AS$16.500 (2012:AS$40.250) dengan suku bungamengambang dan akan berakhir pada tahun2015.

The Group has undrawn borrowingfacilities amounting to US$16,500 (2012:US$40,250) with floating rates which willexpire in 2015.

BR-72 (b) Obligasi konversi (b) Convertible bonds

60p18BR-72

Pada tanggal 8 Februari 2010, Perusahaanmenerbitkan 100.000.000 lembar obligasikonversi dengan bunga 5,0% dengan nilainominal AS$100.000 di BEI. Penerbitanobligasi konversi dilakukan sesuai denganPerjanjian Perwaliamanatan No. 456tanggal 19 Januari 2010 yangditandatangani Perusahaan dan PT BankLondon yang bertindak selaku WaliAmanat para pemegang obligasi. PT BankLondon bukan merupakan pihak berelasiGrup.

The Company issued 100,000,000 5.0%interest rate convertible bonds at a parvalue of US$100,000 on 8 February 2010on the IDX. The issue of convertible bondswas based on the Trusteeship AgreementNo. 456 dated 19 January 2010 signed bythe Company and PT Bank London as thetrustee for the bondholders. PT BankLondon is not a related party of the Group.

BR-72 Obligasi jatuh tempo lima tahun daritanggal penerbitan sebesar nilai nominalAS$100.000 atau dapat dikonversimenjadi sejumlah tetap saham pada saatjatuh tempo atas opsi pemegang obligasisebesar 1 lembar untuk setiap AS$1. Bungaatas obligasi dibayarkan setiap enambulanan yaitu pada tanggal 8 Agustus dan8 Februari.

The bonds mature five years from the issuedate at their nominal value of US$100,000or can be converted into a fixed number ofshares at the holder’s option at the maturitydate at a rate of one share per US$1.Interest on the bonds is payablesemiannually on 8 August and 8 February.

BR-72 Berdasarkan peringkat yang dikeluarkanoleh PT Pemeringkat Efek-efek Indonesia,peringkat obligasi konversi Grup adalahidAAA.

According to the ratings issued by PTPemeringkat Efek-efek Indonesia, the ratingof the Group’s convertible bonds is idAAA.

BR-72 Penerbitan obligasi tersebut ditujukanuntuk mendanai modal kerja Perusahaanterutama dalam kaitannya denganekspansi bisnis di Kalimantan.

Issuance of the bonds is intended to financethe Company’s working capital, especiallyin relation to the business expansion inKalimantan.







BR-72 (b) Obligasi konversi (lanjutan) (b) Convertible bonds (continued)

60p28BR-72

Nilai wajar komponen liabilitas, tercakupdalam pos obligasi konversi dan disajikansebagai bagian liabilitas jangka panjang,dihitung dengan menggunakan tingkatsuku bunga pasar untuk obligasi yangserupa tanpa fitur konversi. Nilai wajarditentukan saat penerbitan dan untukselanjutnya dicatat pada nilai yangdiamortisasi. Jumlah sisa, mewakili nilaiopsi konversi ekuitas, dimasukkan padaekuitas, dikurangi dengan pajakpenghasilan.

The fair value of the liability componentincluded in convertible bonds line item andpresented as part of non-current liabilities,was calculated using a market interest ratefor an equivalent debt instrument withoutconversion features. The fair value wasdetermined upon issue and subsequentlycarried at amortised cost. The residualamount, representing the value of the equityconversion option, is included inshareholders’ equity, net of income taxes.

60p17 Obligasi konversi diakui pada laporanposisi keuangan konsolidasian yangdihitung sebagai berikut:

The convertible bonds recognised in theconsolidated statement of financial positionare calculated as follow:

Nilai nominal obligasi konversiyang diterbitkan tanggal Face value of convertible bond8 Februari 2010 100,000 issued on 8 February 2010

Komponen liabilitas padapengakuan awal tanggal Liability component on initial8 Februari 2010 (93,400) recognition as at 8 February 2010

Komponen ekuitas sebelum pajak 6,600 Equity component before tax adjustmentPengaruh pajak (1,650) Tax effect

Komponen ekuitas setelah pajak 4,950 Equity component after tax adjustment

60p17 Perubahan komponen liabilitas atasobligasi konversi selama tahun berjalanadalah sebagai berikut:

The changes in the liability component ofconvertible bonds during the year are asfollow:

2013 2012

Komponen liabilitas pada Liability component atawal tahun 95,088 95,050 beginning of the year

Beban bunga 5,039 5,038 Interest expenseBunga yang dibayar (5,000) (5,000) Interest paid

Komponen liabilitas pada Liability componentakhir tahun 95,127 95,088 at year end

Guidance notesThe tax effect is initially recorded under the assumptions that (1) the tax base of the liability component is equal to theinitial carrying amount of the sum of the liability and equity components; and (2) the future effective interest calculatedon the carrying amount of the liability component may not be deductible for tax purpose. Therefore, a taxabletemporary difference arises on initial recognition for the difference between the accounting and the tax base of theliability. [SFAS 46 para 25]

In practice, however, there are complexities in the tax treatment of a convertible instruments. Consequently, theresulting tax effects may also be different due to the uncertainties involved. We recommend reporting entities to consultwith your PwC contact members to discuss this matter further.







BR-64 (c) Utang sewa pembiayaan (c) Finance lease payables

2013 2012

BR-65 PT Kesatuan Finance 3,286 1,056 PT Kesatuan FinancePT Amara Finance 3,561 2,108 PT Amara FinancePT Jaya Finance 7,559 4,389 PT Jaya Finance

14,406 7,553BR-65 Dikurangi: Less:

Bagian jangka pendek (3,018) (1,451) Current portion

Bagian jangka panjang 11,388 6,102 Non-current portion

Utang sewa secara efektif terjamin karenahak atas aset sewaan akan kembali kepadapihak yang menyewakan jika terjadiperistiwa gagal bayar.

Lease payables are effectively secured asthe rights to the leased asset revert to thelessor in the event of default.

30p30(b)BR-65

Pembayaran sewa pembiayaan minimumdi masa mendatang, serta nilai kini ataspembayaran minimum sewa pembiayaanpada tanggal 31 Desember 2013 dan 2012adalah sebagai berikut:

Future minimum lease payments underfinance leases together with the presentvalue of the minimum lease payments as at31 December 2013 and 2012 were as follow:

BR-65 2013 2012

30p30(b) Utang sewa pembiayaan bruto Gross finance lease payables- pembayaran sewa minimum: -

minimum lease payments:Tidak lebih dari 1 tahun 4,026 1,980 No later than 1 yearLebih dari 1 tahun dan kurang Later than 1 year and no later

dari 5 tahun 8,918 4,873 than 5 yearsLebih dari 5 tahun 6,062 3,379 Later than 5 years

19,006 10,232Beban keuangan di masa depan Future finance charges

atas sewa pembiayaan (4,600) (2,679) on finance leases

Nilai kini utang sewa Present value of financepembiayaan 14,406 7,553 lease payables

30p30(b) Nilai kini utang sewapembiayaan adalah sebagai The present value of financeberikut: lease payables is as follows:

Tidak lebih dari 1 tahun 3,018 1,451 No later than 1 yearLebih dari 1 tahun dan kurang Later than 1 year and no later

dari 5 tahun 6,886 3,523 than 5 yearsLebih dari 5 tahun 4,502 2,579 Later than 5 years

14,406 7,553

30p30(iii)BR-65

Syarat dan ketentuan yang penting dalamsewa pembiayaan adalah sebagai berikut:

- Grup tidak diperbolehkan untukmenjual, meminjamkan, menyewakan,menghapus, atau menghentikanpengendalian langsung atas aset sewapembiayaan

The significant general terms andconditions of the finance leases are asfollow:- The Group is restricted from selling,

lending, leasing, or otherwise disposingof or ceasing to exercise direct controlover the leased assets







BR-64 (c) Utang sewa pembiayaan (lanjutan) (c) Finance lease payables (continued)

30p30(iii)BR-65

- Grup tidak diperbolehkan untukmembuat atau memperbolehkanpembebanan terhadap semua atausebagian aset sewa pembiayaan, dan

- Semua aset sewa pembiayaan dijadikansebagai jaminan atas utang sewapembiayaan.

- The Group is restricted from creating orallowing any encumbrance to all or anypart of the leased assets, and

- All leased assets are pledged ascollateral for the underlying financelease payables.

20. PERPAJAKAN 20. TAXATION

BR-63 (a) Utang pajak (a) Taxes payable

2013 2012

46p85 Pajak penghasilan: Corporate income tax:Pasal 25/29 3,445 3,890 Article 25/29

Pajak lain-lain: Other taxes:Pasal 21 2,560 1,187 Income tax article 21Pasal 23 2,378 896 Income tax article 23Pajak pertambahan nilai 910 326 Value added taxPajak bumi dan bangunan 300 299 Land and building tax

9,593 6,598

BR-80 (b) Beban pajak penghasilan (b) Income tax expense

2013 2012

BR-8046p87(a) Beban pajak kini 47,021 24,924 Current tax expenses46p87(c),(d) Beban pajak tangguhan 1,975 635 Deferred tax expenses

Jumlah beban pajakpenghasilan 48,996 25,559 Total income tax expenses

46p88(c)BR-81 Pajak atas laba Grup sebelum pajak berbeda

dari nilai teoritis yang mungkin munculapabila menggunakan rata-rata tertimbangtarif pajak terhadap laba pada entitaskonsolidasian dalam jumlah sebagai berikut:

The tax on the Group’s profit before taxdiffers from the theoretical amount thatwould arise using the weighted average taxrate applicable to profits on the consolidatedentities as follows:

2013 2012

Laba konsolidasian sebelumpajak 188,738 98,632 Consolidated profit before tax

Pajak dihitung dengan Tax calculated at applicable taxtarif pajak yang berlaku 47,185 24,658 rates

Dampak pajak penghasilan pada: Tax effects of:- Laba setelah Associates’ results -

pajak entitas asosiasi (686) (264) reported net of tax- Pendapatan bunga dikenakan Interest income subject -

pajak final (219) (209) to final tax- Beban yang tidak dapat

dikurangkan untuk tujuan Expenses not -perpajakan 2,716 1,374 deductible for tax purposes

Beban pajak penghasilan 48,996 25,559 Income tax expenses






20. PERPAJAKAN (lanjutan) 20. TAXATION (continued)

BR-80 (b) Beban pajak penghasilan (lanjutan) (b) Income tax expense (continued)

46p88(c)BR-81

Rekonsiliasi antara laba sebelum pajakPerusahaan dengan penghasilan kena pajakPerusahaan untuk tahun-tahun yangberakhir pada tanggal 31 Desember 2013dan 2012 adalah sebagai berikut:

The reconciliation between the profit beforeincome tax of the Company and theCompany’s estimated taxable income for theyears ended 31 December 2013 and 2012 isas follows:

2013 2012

Laba konsolidasian sebelumpajak penghasilan 188,738 98,632 Consolidated profit before income tax

Dikurangi: laba sebelumpajak penghasilan - Less: profit before income tax -entitas anak (181,155) (90,068) subsidiaries

Disesuaikan dengan jurnal Adjusted for consolidationeliminasi konsolidasi 108,626 54,548 eliminations

Laba sebelum pajak Profit before income taxpenghasilan Perusahaan 116,209 63,112 of the Company

Perbedaan temporer: Temporary differences:Penyisihan imbalan karyawan 60 14 Provision for employee benefitsPerbedaan penyusutan antara Difference between commercial

komersial dan fiskal (398) (184) and taxPerbedaan transaksi sewa

pembiayaan antara komersial Difference between commercialdan fiskal (745) - and tax in finance lease

Amortisasi biaya keuangan 39 38 Amortisation of finance cost

Perbedaan permanen: Permanent differences:Laba dari investasi pada Income from investments

entitas anak (108,626) (54,548) in subsidiariesPenghasilan bunga dikenakan Interest income subject to final

pajak final (236) (136) tax in depreciationBeban yang tidak dapat

dikurangkan untuk tujuan Expenses not deductible forperpajakan (1,087) 3,788 tax purposes

Penghasilan kena pajak -Perusahaan 5,216 12,084 Taxable income - the Company

Beban pajak penghasilan kini Current income tax expensesPerusahaan 1,304 3,021 the Company

Pembayaran pajak dimuka - Prepayment of income taxes -Perusahaan (1,087) (1,029) the Company

Utang pajak penghasilan - Income tax payable -Perusahaan 217 1,992 the Company

Beban pajak penghasilan kini Current income tax expensesentitas anak 45,717 21,903 of subsidiaries

Pembayaran pajak dimuka - Prepayment of income taxes -entitas anak (42,489) (20,005) subsidiaries

Utang pajak penghasilan - Income tax payable -entitas anak 3,228 1,898 subsidiaries

Utang pajak penghasilankonsolidasian 3,445 3,890 Consolidated income tax payable







BR-80 (b) Beban pajak penghasilan (lanjutan) (b) Income tax expense (continued)

Dalam laporan keuangan konsolidasianini, jumlah penghasilan kena pajakdidasarkan atas perhitungan sementara,karena Perusahaan belummenyampaikan Surat PemberitahuanTahunan pajak penghasilan badan.

Pajak penghasilan yang dibebankansehubungan dengan pendapatankomprehensif lainnya selama tahunberjalan adalah sebesar AS$5 (2012: AS$1)

In these consolidated financial statements,the amount of taxable income is based onpreliminary calculations, as the Companyhas not yet submitted its corporate incometax returns.

The income tax charged in relation to othercomprehensive income during the year isamounted to US$5 (2012: US$1).

BR-81 (c) Aset dan liabilitas pajak tangguhan (c) Deferred tax assets and liabilities

1p59 Analisis aset dan liabilitas pajak tangguhanadalah sebagai berikut:

The analysis of deferred tax assets anddeferred tax liabilities is as follows:

2013 2012

Aset pajak tangguhan: Deferred tax assets:- Aset pajak tangguhan yang

akan dipulihkan setelah Deferred tax assets to be recovered-12 bulan 258 209 after more than 12 months

- Aset pajak tangguhan yangakan dipulihkan dalam Deferred tax assets to be recovered -12 bulan 696 394 within 12 months

954 603

Liabilitas pajak tangguhan: Deferred tax liabilities:- Liabilitas pajak tangguhan Deferred tax liabilities to be

yang akan dipulihkan recovered after more thansetelah 12 bulan (1,040) (747) 12 months

- Liabilitas pajak tangguhanyang akan dipulihkan dalam Deferred tax liabilities to be -12 bulan (4,147) (1,979) recovered within 12 months

(5,187) (2,726)

Liabilitas pajak tangguhan (neto) (4,233) (2,123) Deferred tax liabilities (net)

Mutasi bruto akun pajak penghasilantangguhan adalah sebagai berikut:

The gross movement in the deferred incometax account is as follows:

2013 2012

Pada awal tahun 2,123 1,487 At beginning of the year46p88(j) Akuisisi entitas anak (Catatan 4) 130 - Acquisition of subsidiary (Note 4)

Dibebankan dalam laba rugi 1,975 635 Charged to profit or loss46p88(b) Pajak yang dibebankan sehubungan Tax charged in relation to the

dengan pendapatan komprehensif components of otherlain 5 1 comprehensive income


Mutasi aset dan liabilitas pajak penghasilantangguhan selama tahun berjalan adalahsebagai berikut:

The movement in deferred income tax assetsand liabilities during the year is as follows:







BR-8146p88(g)(i)

(c) Aset dan liabilitas pajak tangguhan(lanjutan)

(c) Deferred tax assets and liabilities(continued)

46p88(g)(ii) 2013Dibebankan

padaAkuisisi pendapatan

Dibebankan entitas komprehensifpada anak lainnya/

laba rugi/ (Catatan 4)/ Charged SaldoSaldo awal/ Charged Acquisition of to other akhir/Beginning to the subsidiary comprehensive Ending

balance profit or loss (Note 4) income balance

Liabilitas pajak tangguhan Deferred tax liabilitiesProperty, plant

Aset tetap 1,027 1,566 130 - 2,723 and equipmentSewa pembiayaan 216 420 - - 636 Finance leaseObligasi konversi 1,227 (10) - - 1,217 Convertible bondsAset keuangan tersedia untuk Available for sale financial

dijual 1 - - 5 6 assetsBagian atas laba Share in net

neto entitas asosiasi 255 350 - - 605 profit of associates

Jumlah 2,726 2,326 130 5 5,187 Total

Aset pajak tangguhan Deferred tax assetsImbalan kerja 543 293 - - 836 Provisions employee benefit

Provision of impairmentProvisi penurunan piutang 60 58 - - 118 receivables

Jumlah 603 351 - - 954 Total

2012Dibebankan

padaAkuisisi pendapatan

Dibebankan entitas komprehensifpada anak lainnya/

laba rugi/ (Catatan 4)/ Charged SaldoSaldo awal/ Charged Acquisition of to other akhir/Beginning to the subsidiary comprehensive Ending

balance profit or loss (Note 4) income balance

Liabilitas pajak tangguhan Deferred tax liabilitiesProperty, plant

Aset tetap 421 606 - - 1,027 and equipmentSewa pembiayaan 49 167 - - 216 Finance leaseObligasi konversi 1,237 (10) - - 1,227 Convertible bondsAset keuangan tersedia untuk Available for sale financial

dijual - - - 1 1 assetsBagian atas laba Share in net

neto entitas asosiasi 42 213 - - 255 profit of associates

Jumlah 1,749 976 - 1 2,726 Total

Aset pajak tangguhan Deferred tax assetsImbalan kerja 222 321 - - 543 Provisions employee benefit

Provision of impairmentProvisi penurunan piutang 40 20 - - 60 receivables

Jumlah 262 341 - - 603 Total

Aset dan liabilitas pajak tangguhan padatanggal 31 Desember 2013 dan 2012 telahmemperhitungkan tarif pajak yang berlakuuntuk setiap periode yang terkait.

Deferred tax assets and liabilities as at 31December 2013 and 2012 have beencalculated based on the tax rates applicablefor each respective period.

(d) Administrasi pajak di Indonesia (d) Tax administration in Indonesia

Undang-undang Perpajakan yang berlaku diIndonesia mengatur bahwa masing-masingentitas dalam Grup menghitung,menetapkan dan membayar sendiribesarnya jumlah pajak yang terutang secaraindividu. Berdasarkan peraturanperundang-undangan yang berlaku,Direktur Jenderal Pajak (“DJP”) dapatmenetapkan atau mengubah jumlah pajakterutang dalam jangka waktu tertentu.Untuk tahun pajak 2007 dan sebelumnya,jangka waktu tersebut adalah sepuluh tahunsejak saat terutangnya pajak tetapi tidaklebih dari tahun 2013, sedangkan untuktahun pajak 2008 dan seterusnya, jangkawaktunya adalah lima tahun sejak saatterutangnya pajak.

The taxation laws of Indonesia require eachcompany in the Group within Indonesia tosubmit individual tax returns on the basis ofself asessment. Under the prevailingregulations the Director General of Tax(“DGT”) may assess or amend taxes within acertain period. For the fiscal years 2007 andbefore, this period is within ten years of thetime the tax become due, but not later than2013, while for the fiscal years 2008 andonwards, the period is within five years ofthe time when the tax becomes due.






1p76(d)BR-65

21. KEWAJIBAN IMBALAN PASCA KERJA 21. POST-EMPLOYMENT BENEFITOBLIGATIONS

24p135(d) Jumlah yang diakui pada laporan posisikeuangan ditentukan sebagai berikut:

The amounts recognised in the statement offinancial position are determined as follows:

2013 2012

Nilai kini kewajiban yang tidakdidanai 6,706 5,520 Present value of unfunded obligations

Kerugian aktuarial yang belumdiakui (1,556) (1,339) Unrecognised actuarial loss

Liabilitas pada laporan posisi Liability in the consolidated statementkeuangan konsolidasian 5,150 4,181 of financial position

24p135(c)BR-65BR-66

Mutasi kewajiban imbalan pasti selama tahunberjalan adalah sebagai berikut:

The movement in the defined benefitobligation over the year is as follows:

2013 2012

Pada awal tahun 5,520 4,050 At beginning of the yearBiaya jasa kini 1,026 956 Current service costBiaya bunga 351 310 Interest costKerugian aktuarial 360 414 Actuarial lossesImbalan yang dibayar (386) (120) Benefits paidEfek selisih kurs (165) (90) Exchange difference


24p135(g)BR-67

Jumlah yang diakui pada laporan laba rugiadalah sebagai berikut:

The amounts recognised in the profit or lossare as follows:

2013 2012

Biaya jasa kini 1,026 956 Current service costBiaya bunga 351 310 Interest costKerugian aktuarial neto yang Net actuarial loss recognised

diakui selama tahun berjalan 143 65 during the yearEfek selisih kurs (165) (90) Exchange differences

Jumlah, tercakup dalam biaya Total, included inpekerja (Catatan 30 dan 31) 1,355 1,241 staff costs (Note 30 and 31)

Dari total beban, AS$949 (2012: AS$869) danAS$406 (2012: AS$372) masing-masingdimasukkan sebagai “beban pokok pendapatan”dan “beban usaha”.

Of the total charge, US$949 (2012: US$869)and US$406 (2012: US$372) were includedin “cost of revenue” and “operatingexpenses”, respectively.

24p135(n)BR-68

Asumsi aktuarial utama yang digunakan aktuarisindependen yang memenuhi syarat, PT AktuarisPenilai, adalah sebagai berikut:

The principal actuarial assumptions used bythe independent qualified actuaries, PTAktuaris Penilai, were as follow:

2013 2012

Tingkat diskonto 6.5% 6.75% Discount rateTingkat inflasi 4.3% 3.8% Inflation rateKenaikan gaji di masa depan 12% - 15% 12% - 15% Future salary increases

BR-68 Asumsi yang berhubungan dengan pengalamanmortalitas masa depan ditentukan berdasarkansaran aktuaris menurut statistik yang telahditerbitkan dan pengalaman setiap wilayah. DiIndonesia, asumsi mortalitas yang digunakanadalah Tabel Mortalitas Indonesia 2011.

Assumptions regarding future mortalityexperience are made based on actuarialadvice, in accordance with publishedstatistics and experience in each territory.In Indonesia, the mortality assumptionsused are based on the Indonesian MortalityTable 2011.






1p76(d)BR-65

21. KEWAJIBAN IMBALAN PASCA KERJA(lanjutan)

21. POST-EMPLOYMENT BENEFITOBLIGATIONS (continued)

Penyesuaian pengalaman pada penyisihanimbalan karyawan adalah sebagai berikut:

Experience adjustments to the provision foremployee benefits are as follow:

201324p135 2012 2011 2010 2009BR-68BR-69 Nilai kini kewajiban

yang tidak didanai 6,706 5,520 4,361 3,445 2,722Present value of

unfunded obligation

Penyesuaianpengalaman padaliabilitas program 113 177 81 106 29

Experienceadjustments on plan

liabilities

1p52(k)BR-62

22. PROVISI REKLAMASI DANPENUTUPAN TAMBANG

22. PROVISION FOR MINE RECLAMATIONAND CLOSURE

2013 2012

Saldo awal 11,682 10,930 Beginning balancePenambahan 2,342 2,003 AdditionKenaikan provisi yang disebabkan Increase in provision due to

oleh berlalunya waktu 789 738 the passage of timeAkuisisi 4,913 - AcquisitionPenggunaan (2,151) (1,989) Utilisation

Saldo akhir 17,575 11,682 Ending balance

Estimasi penggunaan dalam waktusatu tahun 2,740 2,082 Estimated utilisation within one year

Estimasi penggunaan dalam jangkawaktu lebih dari satu tahun 14,835 9,600 Estimated utilisation after one year

Jumlah 17,575 11,682 Total

1p76(e)BR-72-73

23. MODAL SAHAM 23. SHARE CAPITAL

1p111(b)1p111(c)BR-73

Susunan pemegang saham berdasarkancatatan yang dibuat oleh PT Kustodian SentralEfek Indonesia (“KSEI”), biro administrasiefek, adalah sebagai berikut:

Details of shareholders based on the recordsmaintained by PT Kustodian Sentral EfekIndonesia (“KSEI”), the share administrator,are as follow:

2013 dan/and 2012Jumlahsaham/Number ofshares

Persentasekepemilikan/Percentageof ownership

Jumlah/Amount

PT Induk 142,576,827 52.69% 7,372 PT IndukFajar Santoso (Presiden Fajar Santoso (President

Komisaris) 39,155,185 14.47% 2,024 Commissioner)Halim Baskoro (Komisaris) 13,989,793 5.17% 723 Halim Baskoro(Commissioner)Adhi Wijaya Adhi Wijaya

(Presiden Direktur) 1,434,157 0.53% 74 (President Director)Eva Bernadeth (Direktur) 135,298 0.05% 7 Eva Bernadeth (Director)Masyarakat 73,304,350 27.09% 3,791 Public

Jumlah saham ditempatkan Number of shares issueddan disetor penuh 270,595,610 100% 13,991 and fully paid

1p77(a) (v)BR-73

Saham biasa memberikan hak kepadapemegangnya untuk memperoleh dividen danhasil dari pembubaran Perusahaan sesuaidengan proporsi jumlah dan jumlah yangdibayarkan atas saham yang dimiliki.

Ordinary shares entitle the holder to participatein dividends and the proceeds of the winding upof the Company in proportion to the number ofand amounts paid on the shares held.






1p76(e) 24. TAMBAHAN MODAL DISETOR 24. ADDITIONAL PAID-IN CAPITAL

BR-72BR-73 Rincian tambahan modal disetor adalah

sebagai berikut:Details of additional paid-in capital are asfollow:

2013 2012

Tambahan modal disetor saatPenawaran Umum Saham Perdana 18,852 18,852 Additional paid-in-capitalfrom IPO

Biaya emisi saham (660) (660) Share issuance costs

Tambahan modal disetor 18,192 18,192 Additional paid-in-capital

25. SALDO LABA DAN CADANGANLAINNYA

25. RETAINED EARNINGS AND OTHERRESERVES

(a) Saldo laba yang dicadangkan (a) Appropriated retained earnings

1p77(b)BR-73BR-75

Berdasarkan Undang-undang PerseroanTerbatas, perusahaan diharuskan untukmembuat penyisihan cadangan wajibhingga sekurang-kurangnya 20% darijumlah modal yang ditempatkan dandisetor penuh.

Saldo laba yang dicadangkan pada tanggal31 Desember 2013 dan 2012 adalahsebesar AS$6.500 atau 20% dari jumlahmodal yang ditempatkan dan disetorpenuh.

Under Indonesian Limited Company Law,companies are required to set up a statutoryreserve amounting to at least 20% of theCompany's issued and paid up capital.

The balance of the appropriated retainedearnings as at 31 December 2013 and 2012 isUS$6,500 or 20% of the Company’s issuedand paid up capital.

(b) Sifat dan tujuan cadangan perubahannilai wajar atas aset keuangan tersediauntuk dijual

(b) Nature and purpose of reserve for changes infair value of available-for-sale financialassets

1p77(b)BR-73BR-75

Perubahan pada nilai wajar dan selisihnilai tukar yang muncul dari translasiinvestasi, seperti efek ekuitas, yangdiklasifisikan sebagai aset keuangantersedia untuk dijual, diakui sebagaipendapatan komprehensif lainnya dandiakumulasikan pada saldo cadanganterpisah dalam ekuitas. Saldo tersebutdireklasifikasi ke laporan laba rugi ketikaaset yang terkait dijual atau mengalamipenurunan nilai.

Changes in the fair value and exchangedifferences arising on translation ofinvestments, such as equities, classified asavailable-for-sale financial assets, arerecognised in other comprehensive income,and accumulated in a separate reservewithin equity. Amounts are reclassified toprofit or loss when the associated assets aresold or impaired.

(c) Dividen (c) Dividends

1p106BR-88

Pada Rapat Umum Pemegang SahamTahunan (“RUPST”) Perusahaan yangdiadakan pada tanggal 12 April 2012, telahdisetujui pembagian dividen tunai untuktahun 2011 sejumlah AS$15.000.

At the Company’s Annual General Meetingof Shareholders (“AGMS”) held on 12 April2012, a total cash dividend for 2011 ofUS$15,000 was approved.

Pada RUPST Perusahaan yang diadakanpada tanggal 16 April 2013, telah disetujuipembayaran dividen tunai untuk tahun2012 sejumlah AS$15.500.

At the Company’s AGMS held on 16 April2013, a total cash dividend for 2012 ofUS$15,500 was approved.






BR-34 26. KEPENTINGAN NONPENGENDALI 26. NON-CONTROLLING INTERESTS

2013Bagian atas

Akuisisi dan laba/(rugi) SaldoSaldo awal/ penambahan/ neto/ Share akhir/Beginning Acquisition of net Dividen/ Ending

balance and addition income/(loss) Dividends balance

PT Mining BerdikariIndonesia 11,007 7,927 2,546 (1,550) 12,003

PT Jasa PenambanganIndonesia 21,694 - 14,617 - 36,311

PT Mining SwadayaIndonesia 3,648 - 1,429 - 5,077

PT Mining MandiriIndonesia - - 6,836 - 14,763

36,349 7,927 25,428 (1,550) 68,154

2012Bagian ataslaba/(rugi) Saldo

Saldo awal/ neto/ Share akhir/Beginning of net Ending

balance income/(loss) balance

PT Mining Berdikari Indonesia 8,252 2,755 11,007PT Jasa Penambangan Indonesia 13,539 8,155 21,694PT Mining Swadaya Indonesia 2,456 1,192 3,648

24,247 12,102 36,349

Pada Rapat Dewan Komisaris dan Direksi PTMining Berdikari Indonesia yang diadakanpada tanggal 2 Desember 2013, telah disetujuipembayaran dividen interim tunai untuktahun 2013 sejumlah AS$15.500. Dividensebesar AS$1.550 merupakan porsikepentingan nonpengendali.

At the PT Mining Berdikari Indonesia’sBoard of Commissioners and DirectorsMeeting held on 2 December 2013, a totalinterim cash dividend for 2013 of US$15,500,was approved. The dividend amounted toUS$1,550 pertained to non-controllinginterest.

BR-90BR-91

27. TRANSAKSI NONKAS 27. NON-CASH TRANSACTIONS

2p422p43

Transaksi nonkas yang penting adalah sebagaiberikut:

The principal non-cash transaction are asfollow:

2013 2012

Perolehan aset melalui utangsewa pembiayaan 8,304 3,463 Acquisition of assets under finance leases






BR-87 28. LABA BERSIH PER SAHAM 28. EARNINGS PER SHARE

(a) Laba bersih per saham dasar (a) Basic earnings per share

Laba bersih per saham dasar dihitungdengan membagi laba yang dapatdiatribusikan kepada pemilik ekuitasperusahaan dengan jumlah rata-ratatertimbang saham biasa yang beredarselama tahun berjalan.

Basic earnings per share is calculated bydividing the profit attributable to the equityholders of the Company by the weightedaverage number of ordinary shares in issueduring the year.

2013 2012

56p13 Laba yang tersedia bagi pemegang sahambiasa Perusahaan yang digunakan Profit attributable to the ordinarydalam perhitungan laba bersih per equity holders of the Company used insaham dasar 114,314 60,971 calculating basic earnings per share

Rata-rata tertimbang jumlah saham Weighted average number of ordinarybiasa yang beredar (nilai penuh) 270,595,610 270,595,610 shares in issue (full amount)

Jumlah laba bersih per saham dasar yang Total basic earnings per share attributabletersedia bagi pemegang saham to the ordinary equity holdersbiasa Perusahaan (nilai penuh) 0.422 0.225 of the Company (full amount)

(b) Laba bersih per saham dilusian (b) Diluted earnings per share

Laba bersih per saham dilusian dihitungdengan menyesuaikan jumlah rata-ratatertimbang saham biasa yang beredardengan mengasumsikan konversi atasobligasi konversi dan laba bersih telahdisesuaikan untuk mengeliminasi bebanbunga atas obligasi terkait dikurangidampak perpajakan.

Diluted earnings per share is calculated byadjusting the weighted average number ofordinary shares outstanding, assuming theconversion of convertible bonds and the netprofit is adjusted to eliminate the interestexpense on such bonds, less the tax effect.

2013 2012

56p13 Laba yang tersedia bagi pemegang sahambiasa Perusahaan yang digunakan Profit attributable to the ordinarydalam perhitungan laba bersih per equity holders of the Company used insaham dasar: 114,314 60,971 calculating basic earnings per share:

Penghematan bunga dariobligasi konversi Interest savings on convertible(dikurangi pajak) 3,779 3,779 bonds (less tax)

Jumlah laba yang tersedia bagipemegang saham biasaperusahaan yang digunakan Total profit attributable to the ordinarydalam perhitungan laba per equity holders of the Company used insaham dilusian 118,093 64,750 calculating diluted earnings per shares

Rata-rata tertimbang jumlah saham Weighted average number of ordinarybiasa yang beredar (nilai penuh) 370,595,610 370,595,610 shares in issue (full amount)

Jumlah laba bersih per saham dilusian Total diluted earnings per share attributableyang tersedia bagi pemegang to the ordinary equity holderssaham biasa Perusahaan (nilai penuh) 0.319 0.175 of the Company (full amount)

(c) Jumlah rata-rata tertimbang saham yangdigunakan sebagai penyebut

(c) Weighted average number of shares used asthe denominator

2013 2012

56p13 Jumlah rata-rata tertimbang sahamyang digunakan sebagai penyebut Weighted average number of ordinary sharesdalam perhitungan laba bersih per used as the denominator in calculatingsaham dasar 270,595,610 270,595,610 basic earnings per share

56p73(a) Penyesuaian untuk perhitungan Adjustments for calculation of dilutedlaba bersih per saham dilusian: earnings per share:

Obligasi konversi 100,000,000 100,000,000 Convertible bonds

Jumlah rata-rata tertimbang sahamyang digunakan sebagai penyebut Weighted average number of ordinary sharesdalam perhitungan laba per used as the denominator in calculatingsaham dilusian 370,595,610 370,595,610 diluted earnings per share






BR-7523p33(b)

29. PENDAPATAN 29. REVENUE

2013 2012

Penjualan batubara Sales of coalEkspor 255,760 117,344 ExportDomestik 63,940 29,336 Domestic

Jumlah pendapatan daripenjualan batubara 319,700 146,680 Total revenue from sales of coal

Pendapatan jasa pertambangan 185,618 125,089 revenue from mining services

Jumlah pendapatan 505,318 271,769 Total revenue

BR-76 Pendapatan sebesar AS$83.767 (2012:AS$26.932) atau setara dengan 17%(2012:10%) dari jumlah pendapatan diterimadari satu pelanggan eksternal, PT TambangIndonesia. Tidak ada konsentrasi risiko kredityang signifikan selain yang telah disebutkandiatas.

Revenues of approximately US$83,767 (2012:US$26,932) or equal to 17% (2012: 10%) of totalrevenues are derived from a single externalcustomer, PT Tambang Indonesia. There is nosignificant credit risk concentration other thanas explained above.

BR-76 Pendapatan konsolidasian dari penjualanbatubara senilai US$20.580(2012:US$16.800) dan jasa pertambangansenilai US$69.569 (2012:US$53.677)dihasilkan dari transaksi dengan pihak berelasi(Catatan 34).

Consolidated revenue from sales of coalamounting to US$20,580 (2012:US$16,800)and mining services amounting to US$61,722(2012:US$53,677) generated from related partytransactions (Note 34).

1p102 30.BEBAN POKOK PENDAPATAN 30. COST OF REVENUE

BR-77 2013 2012

Penjualan batubara Sales of coalPenambangan 88,717 31,414 MiningPemrosesan batubara 19,588 10,743 Coal processing

Jumlah biaya produksi 108,305 42,157 Total production costs

Iuran eksploitasi 22,379 10,268 Exploitation feesPengangkutan dan bongkar muat 29,796 14,011 Freight and handling costsBiaya pembelian batubara 18,038 6,782 Purchases of coalBiaya penyusutan 14,617 12,664 DepreciationBiaya amortisasi properti

pertambangan 3,205 1,522 Amortisation of mining propertiesBeban penurunan nilai 230 80 Impairment charges

Persediaan batubara: Coal inventory:Saldo awal 6,258 7,096 Beginning balanceSaldo akhir (8,072) (6,258) Ending balance

(Kenaikan)/penurunanpersediaan batubara (1,814) 838 (Increase)/decrease in coal inventory

Jumlah beban pokok pendapatan –penjualan batubara 194,756 88,322 Total cost of revenue - sales of coal






1p102 30.BEBAN POKOK PENDAPATAN(lanjutan)

30. COST OF REVENUE (continued)

2013 2012

Jasa penambangan Mining servicesPerbaikan dan pemeliharaan 39,914 20,885 Repair and maintenanceBiaya pemakaian bahan 22,461 19,946 ConsumablesBiaya karyawan 16,498 13,287 Employee costsBiaya penyusutan 7,871 6,820 DepreciationSubkontraktor 5,784 3,840 SubcontractorsBiaya lain-lain (masing-masing

di bawah AS$5.000) 2,609 1,730 Other costs (each below US$5,000)

Jumlah beban pokok pendapatan-jasa penambangan 95,137 66,508 Total cost of revenue-mining services

Jumlah beban pokok pendapatan 289,893 154,830 Total cost of revenue

BR-77 Rincian pemasok yang memiliki transaksi lebihdari 10% pendapatan konsolidasian adalahsebagai berikut:

Details of suppliers with transactions thatrepresent more than 10% of the consolidatedrevenue are as follow:

2013 2012

Pihak ketiga: Third party:PT Penjualan BBM 55,143 12,948 PT Penjualan BBM

55,143 12,948

Lihat Catatan 34 untuk rincian saldo dantransaksi dengan pihak berelasi.

Refer to Note 34 for details of related partybalances and transactions.

1p101 31. BEBAN USAHA 31. OPERATING EXPENSES

BR-77 2013 2012

Penjualan dan pemasaran Selling and marketingKomisi penjualan 3,048 1,215 Sales commissionGaji dan tunjangan 2,050 794 Salary and allowancesBiaya angkut 1,658 889 Freight costBahan bakar 1,023 844 FuelLain-lain 473 164 Others

8,252 3,906

Umum dan administrasi General and administrativeBiaya karyawan 3,379 2,078 Employee costsPenyusutan dan amortisasi 2,443 2,216 Depreciation and amortisationJasa professional 2,197 1,430 Professional feesPerbaikan dan pemeliharaan 1,936 1,063 Repairs and maintenanceKomunikasi 1,540 990 CommunicationPelatihan dan pendidikan 1,080 457 Training and educationLain-lain 269 123 Others

12,844 8,357

21,096 12,263






BR-77 32. BIAYA DAN PENDAPATANKEUANGAN

32. FINANCE COSTS AND INCOME

2013 2012

Beban bunga: Interest expenses:Utang sewa pembiayaan 656 366 Finance lease payableUtang bank 2,505 1,592 Bank loansObligasi konversi 5,039 5,038 Convertible bonds

8,200 6,996

Pendapatan keuangan (874) (835) Finance income

Biaya keuangan, neto 7,326 6,161 Finance costs, net

BR-77 33. BEBAN LAIN-LAIN, NETO 33. OTHER EXPENSES, NET

2013 2012

Beban lain-lain Other expensesKerugian nilai tukar mata uang asing (1,179) (767) Losses on foreign exchangeBeban lain-lain (70) (173) Other expenses

(1,249) (940)

Pendapatan lain-lain 239 - Other income

(1,010) (940)

BR-78 34. TRANSAKSI PIHAK BERELASI 34. RELATED PARTY TRANSACTIONS

1p138(c)7p13

Grup dikendalikan oleh PT Prime WorldCorporation (berdomisili di Indonesia) yangmemiliki 80% saham Perusahaan. Indukutama Grup adalah PT Prima Warna Corp(berdomisili di Indonesia). Pihak pengendaliutama Grup adalah Mr. Caraka Wong.

The Group is controlled by PT Prime WorldCorporation (domiciled in Indonesia) which owns80% of the Company’s shares. The ultimate parentof the Group is PT Prima Warna Corp (domiciledin Indonesia). The Group’s ultimate controllingparty is Mr. Caraka Wong.

7p177p187p207p21

Dalam kegiatan usahanya, Grup mengadakantransaksi dengan pihak-pihak berelasi,terutama meliputi transaksi-transaksipenjualan, pembelian dan transaksi keuanganlainnya. Lihat Catatan 1 untuk rincianstruktur Grup.

In the normal course of business, the Groupengages in transactions with related parties,primarily consisting of sales, purchases and otherfinancial transactions. Refer to Note 1 for details ofthe Group’s structure.






BR-78 34. TRANSAKSI PIHAK BERELASI(lanjutan)

34. RELATED PARTY TRANSACTIONS(continued)

BR-78 (a) Sifat hubungan dan transaksi (a) Nature of relationships and transactionsBR-797p187p20

Tabel berikut ini adalah ikhtisar pihak-pihak berelasi yang bertransaksi denganPerusahaan, termasuk sifat hubungandan sifat transaksinya:

The following table is a summary of relatedparties who have transactions with theCompany, and includes the nature of therelationship and transactions:

Pihak Terkait/Related Parties

Sifat hubungan/Nature of relationship

Sifat transaksi/Nature of transaction

PT Prime World Corporation Entitas induk langsung/Immediateparent

Perdagangan/Trading

PT Prima Warna Corp Entitas induk utama/Ultimateparent

Jasa transportasi dan konsultanmanajemen/Transportation services andmanagement consultant

PT Mining Semesta Indonesia Entitas asosiasi/Associate Penjualan batubara/Sales of coal

PT Mining Sarana Indonesia Entitas asosiasi/Associate Jasa pertambangan/Mining services

PT Mining Kreasi Indonesia Entitas sepengendali/Entity undercommon control

Jasa pertambangan/Mining services

PT Mining Sejahtera Indonesia Entitas sepengendali/Entity undercommon control

Jasa pertambangan/Mining services

Dewan Komisaris, Direksi, Pemegang sahamutama yang juga bagian dari Manajemen,Personil manajemen kunci lainnya dankeluarga/Board of Commissioners, Board ofDirectors, Shareholders that are part ofmanagement, Other key managementpersonnel and family

Manajemen kunci Perusahaan/Keymanagement of the Company

Kompensasi dan remunerasi, pemberianpinjaman, penjualan jasadesain/Compensation and remuneration,loans and sales of design services

PT Asosiasi Utama Perusahaan asosiasi indukutama/Associate of ultimateparent

Penjualan batubara/Sales of coal

PT Mitra Bersama Entitas yang dikendalikan olehpersonil manajemen kunci/Anentity controlled by keymanagement personnel

Pembelian jasa transportasi/Purchase oftransportation services

7p17(a) (b) Penjualan batubara dan jasapertambangan

(b) Sales of coal and mining services

2013 2012

% a) US$ % a) US$

Penjualan batubara/Sales of coalPihak berelasi lainnya/Other related parties

PT Asosiasi Utama 1.55% 7,790 2.17% 5,900PT Mining Sejahtera Indonesia 2.53% 12,790 4.01% 10,900

4.08% 20,580 6.18% 16,800

Jasa pertambangan/Mining servicesEntitas asosiasi/Associates

PT Mining Sarana Indonesia 9.76% 49,341 16.17% 43,951PT Mining Kreasi Indonesia 4.00% 20,228 3.58% 9,726

13.76% 69,569 19.75% 53,677

Jumlah penjualan batubara dan jasa pertambangan/Total sales of coal and mining services 17.84% 90,149 25.93% 70,477

a) % terhadap jumlah pendapatan konsolidasian. a) % of total consolidated revenue.








7p17(a) (b) Penjualan batubara dan jasapertambangan (lanjutan)

(b) Sales of coal and mining services (continued)

7p22BR-80

Penjualan barang dilakukan berdasarkanIndonesian Coal Index Price dan syarat-syarat yang sama seperti transaksi denganpihak ketiga. Penjualan jasa dirundingkandengan pihak berelasi berdasarkan biayaditambah marjin antara 2% sampai 5%(2012: 2% sampai 4%).

Goods are sold based on the Indonesian CoalIndex Price and at terms that would beavailable to third parties. Sales of services arenegotiated with related parties on a cost-plusbasis, allowing a margin ranging from 2% to5% (2012: 2% to 4%).

7p17(a) (c) Pembelian suku cadang dan jasa lainnya (c) Purchases of spare parts and other servicesBR-90

2013 2012

% b) US$ % b) US$

Pembelian suku cadang/Purchase of spare parts

7p18(a) Entitas induk langsung/Immediate parentPT Prime World Corporation 1.15% 5,784 0.31% 840

b) % terhadap jumlah beban pokok pendapatankonsolidasian.

b) % of total consolidated cost of revenue.

2013 2012

% c) US$ % c) US$

Jasa konsultan manajemen/Management consultation

7p18(a) Pihak pengendali utama/Ultimate controlling partyPT Prima Warna Corp 5% 1,055 5% 663

c) % terhadap jumlah beban usaha konsolidasian. c) % of total consolidated operating expenses.

2013 2012

% b) US$ % b) US$

Jasa transportasi/Transportation services

7p18(a) Entitas induk utama/Ultimate parentPT Prima Warna Corp 7% 20,500 5.8% 8,990

b) % terhadap jumlah beban pokok pendapatankonsolidasian.

b) % of total consolidated cost of revenue.

7p22BR-80

Pembelian suku cadang dari PT PrimeWorld Corporation berdasarkan syarat-syarat komersial. Jasa konsultan yangdiperoleh dari PT Prima Wahana Corpberdasarkan harga perolehan ditambahmarjin antara 2% sampai 5% (2012: 4%).Jasa transportasi yang diperoleh dari PTPrima Warna Corp terkait denganpenggunaan jasa pengangkutan batubaradan berdasarkan harga perolehanditambah marjin antara 10% sampai 15%.

Puchases of coal are made from PT PrimeWorld Corporation under normal commercialterms and conditions. Management servicesto PT Prima Wahana Corp are charged on acost-plus basis, allowing a margin rangingfrom 2% to 5% (2012: 4%). Transportationservices paid to PT Prima Warna Corp relateto freight services for coal and are charged ona cost-plus basis, allowing a margin rangingfrom 10% to 15%.








7p16BR-79

(d) Kompensasi manajemen kunci (d) Key management compensation

7p16(a)7p16(b)

Kompensasi yang dibayar atau terutangpada manajemen kunci atas jasakepegawaian adalah sebagai berikut:

The compensation paid or payable to keymanagement for employee services is shownbelow:

2013Personil

manajemenDewan kunci lainnya/

Direksi/ Komisaris/ Other keyBoard of Board of managementDirectors Commissioners personnel

%d) US$ %d) US$ %d) US$

Gaji dan imbalan karyawan Salaries and other short-termjangka pendek lainnya 8.72% 3,500 2.08% 835 1.03% 412 employee benefits

Imbalan pascakerja 0.87% 350 0.18% 74 0.21% 85 Post-employment benefits

Jumlah 9.59% 3,850 2.26% 909 1.24% 497 Total

2012Personil

manajemenDewan kunci lainnya/

Direksi/ Komisaris/ Other keyBoard of Board of managementDirectors Commissioners personnel

%d) US$ %d) US$ %d) US$

Gaji dan imbalan karyawan Salaries and other short-termjangka pendek lainnya 2.54% 700 0.76% 210 0.07% 20 employee benefits

Imbalan pascakerja 0.53% 145 0.36% 100 0.03% 7 Post-employment benefits

Jumlah 3.07% 845 1.13% 310 0.10% 27 Total

d) % terhadap jumlah beban imbalan kerja. d) % of total employee benefit expense.

7p17(b)BR-79

(e) Saldo akhir tahun yang timbul daripenjualan/pembelian batubara, jasapertambangan, dan jasa lainnya.

(e) Year-end balances arising fromsales/purchases of coal, mining services andother services.

2013 2012

% e) US$ % e) US$

Piutang usaha/Trade receivables

PT Mining Kreasi Indonesia 0.35% 2,112 0.22% 925PT Mining Sarana Indonesia 0.33% 1,978 0.43% 1,789PT Mining Sejahtera Indonesia 0.21% 1,245 0.27% 1,113PT Asosiasi Utama 0.11% 643 - -

Jumlah/Total 1.00% 5,978 0.92% 3,827

2013 2012

% e) US$ % e) US$

Utang nonusaha/Non-trade payablesPT Prima Warna Corp 3.67% 10,535 6.36% 14,488

e) % terhadap jumlah aset konsolidasian. e) % of total consolidated assets.

7p17(b)(i)7p17(b)(ii)7p17(c)

Piutang usaha dari pihak berelasi timbulterutama dari transaksi penjualan danjatuh tempo dua bulan sejak tanggalpenjualan. Piutang tidak memiliki jaminandan tidak berbunga. Tidak ada provisiuntuk piutang usaha dari pihak berelasi(2012: nihil).

The trade receivables from relatedparties arise mainly from salestransactions and are due two monthsafter the date of sale. The receivables areunsecured in nature and bear nointerest. There is no provision made fortrade receivables from related parties(2012: nil).

7p17(b)(i) Utang nonusaha kepada pihak berelasitimbul terutama dari transaksipembayaran dimuka atas biaya-biayaPerusahaan. Utang tersebut didenominasidalam mata uang Dolar AS, tidak berbungadan tidak mempunyai tanggal jatuh tempo.

The non-trade payables to related partyarise mainly from payments madeupfront on behalf of the Company. Thepayables are denominated in US Dollars,non interest bearing and have no fixedrepayment date.






BR-92 35. INFORMASI SEGMEN 35. SEGMENT INFORMATION

BR-925p22(a)

Manajemen telah menentukan segmen operasididasarkan pada laporan yang ditelaah olehDireksi, yang telah diidentifikasikan sebagaipengambil keputusan operasional utama Grup,yang digunakan dalam mengambil keputusanstrategis.

Management has determined the operatingsegments based on reports reviewed by theBoard of Directors, which has been identified asthe Group’s chief operating decision maker,which makes strategic decisions.

BR-925p22(a)

Direksi mempertimbangkan operasi bisnis dariperspektif jenis bisnis yang terdiri daripenambangan batubara dan jasa penambangan.

The Board of Directors considers the businessoperation by business type perspective whichare coal mining and mining services.

Penjualan antara segmen operasi dilakukanberdasarkan pada harga di dalam kontrak.Pendapatan dari pihak eksternal yangdilaporkan kepada Direksi diukur dengan carayang sama sebagaimana disampaikan pada labarugi.

Sales between segments are carried out atcontracted prices. The revenue from externalparties reported to the Board of Directors ismeasured in a manner consistent with that inprofit or loss.

Jumlah yang dilaporkan kepada Direksisehubungan dengan jumlah aset dan liabilitasdiukur dengan cara yang konsisten denganyang dilaporkan dalam laporan posisi keuangankonsolidasian.

The amounts provided to the Board of Directorswith respect to total assets and liabilities aremeasured in a manner consistent with that ofthe consolidated statements of financialposition.

Informasi segmen yang diberikan kepadaDireksi untuk pelaporan segmen tahun yangberakhir 31 Desember 2013 dan 2012, adalahsebagai berikut:

The segment information provided to the Boardof Directors for the reportable segments for theyear ended 31 December 2013 and 2012, is asfollows:

Penambangan Jasabatubara/ penambangan/ Eliminasi/ Konsolidasi/

Coal Mining Mining services Eliminations ConsolidatedUntuk tahun yang berakhir 31 Desember 2013/

For the year ended 31 December 2013

Pendapatan di luarsegmen External revenueAsia 271,745 185,618 - 457,363 AsiaAmerika 31,970 - - 31,970 AmericaEropa 15,985 - - 15,985 Europe

Pendapatan antar Inter-segmentsegmen - 97,266 (97,266) - revenue

Pendapatan 319,700 282,884 (97,266) 505,318 Revenue

Beban pokokpendapatan (194,756) (192,403) 97,266 (289,893) Cost of revenue

OperatingBeban usaha (11,829) (9,267) - (21,096) expenses

Biaya keuangan (1,290) (6,910) - (8,200) Finance costs

Pendapatan keuangan 402 472 - 874 Finance income

Income taxBeban pajak penghasilan (29,981) (19,015) - (48,996) expense

Laba tahun berjalan 85,331 54,411 139,742 Profit for the year

Depresiasi dan Depreciation anddan amortisasi 13,943 10,238 - 24,181 amortisation

Aset segmen 411,871 264,612 (74,145) 602,338 Segment assets

Liabilitas segmen 139,435 222,062 (74,145) 287,352 Segment liabilities






BR-92 35. INFORMASI SEGMEN (lanjutan) 35. SEGMENT INFORMATION (continued)

Penambangan Jasabatubara/ penambangan/ Eliminasi/ Konsolidasi/

Coal Mining Mining services Eliminations ConsolidatedUntuk tahun yang berakhir 31 Desember 2013/

For the year ended 31 December 2013

Pendapatan di luarsegmen External revenueAsia 124,678 125,089 - 249,767 AsiaAmerika 14,668 - - 14,668 AmericaEropa 7,334 - - 7,334 Europe

Pendapatan antar Inter-segmentsegmen - 91,598 (91,958) - revenue

Pendapatan 146,680 216,687 (91,958) 271,769 Revenue

Beban pokokpendapatan (88,322) (158,466) 91,958 (154,830) Cost of revenue

OperatingBeban usaha (5,281) (6,982) - (12,263) expenses

Biaya keuangan (1,657) (5,339) - (6,996) Finance costs

Pendapatan keuangan 366 469 - 835 Finance income

Income taxBeban pajak penghasilan (13,867) (11,692) - (25,559) expense

Laba tahun berjalan 39,466 33,607 - 73,073 Profit for the year

Depresiasi dan Depreciation anddan amortisasi 10,848 10,102 - 20,950 amortisation

Aset segmen 230,232 241,385 (59,674) 411,943 Segment assets

Liabilitas segmen 83,681 203,689 (59,674) 227,696 Segment liabilities

BR-92 Penjualan berdasarkan tujuan adalah sebagaiberikut:

Sales by destination is as follows:

2013 2012

Domestik 185,618 125,089 DomesticEkspor Export- China 186,511 74,132 China -- India 85,234 50,546 India -- Amerika Serikat 31,970 14,668 United States of America -- Lain-lain 15,985 7,334 Others -

505,318 271,769

Guidance notes:

The disclosure requirements related to segment information depend on the information which are regularly reviewedby the entity’s Chief Operating Decision Maker (“CODM”) of the Company/Group in order to make decisions aboutresources to be allocated to the segments and assess their performance.

In the event that the CODM only focuses on the segmental gross profit, while the segment information related to itemsbelow gross profit and assets or liabilities of the segment are not evaluated in their decision, the reporting entity maynot need to disclose segmental information below gross profit and other unnecessary information. The reporting entitywill only need to disclose the reconciliation of segment information balance to the primary statements of the financialreporting.

On the other hand, revenue is subject to segmental information at the minimum, based on the geography location.






BR-91 36. PERJANJIAN PENTING, IKATAN, DANKONTINJENSI

36. SIGNIFICANT AGREEMENTS,COMMITMENTS AND CONTINGENCIES

a. Permasalahan hukum PT MiningBerdikari Indonesia

a. PT Mining Berdikari Indonesia legal issue

Pada tanggal 27 April 2011, BupatiSibanjar mengirimkan surat kepada PTMining Berdikari Indonesia tentangpenghentian kegiatan operasional di areahutan lindung sebagai dampak darikerusakan lingkungan yang di timbulkandari kegiatan pertambangan di areatersebut. Bupati Kalimantan Selatan jugamengirimkan surat kepada MenteriLingkungan Hidup mengenai keberatandengan aktivitas pertambangan yang dilakukan oleh PT Mining BerdikariIndonesia di area hutan lindung.

On 27 April 2011, the Sibanjar Regent senta letter to PT Mining Berdikari Indonesiaconcerning the suspension of PT MiningBerdikari Indonesia’s operations due toenvironmental damage on the forestryarea as a result of mining activity. TheSouth Kalimantan Regent also sent aletter to the Minister of the Environmentobjecting to the PT Mining BerdikariIndonesia’s mining activity in the forestryarea.

Pada tanggal 19 Mei 2013, Bupati Sibanjarmengirimkan surat peringatan kepada PTMining Berdikari Indonesia perihalpenghentian kegiatan pertambangan diarea hutan lindung. Menurut surattersebut, jika permintaan tidak dipenuhidalam waktu 30 hari sejak tanggal surat,Bupati Kalimantan Selatan akanmengambil tindakan hukum. PT MiningBerdikari Indonesia telah mengirimkansurat kepada KESDM untuk mencaripanduan mengenai hal ini.

On 19 May 2013, the Sibanjar Regent senta warning letter to PT Mining BerdikariIndonesia requesting the suspension of PTMining Berdikari Indonesia’s miningactivity in forestry area. According to theletter, if the request was not fulfilledwithin 30 days of the date of the letter, theSouth Kalimantan Regent would take thenecessary legal action. PT MiningBerdikari Indonesia has sent a letter toMOEMR seeking guidance on this matter.

PT Mining Berdikari Indonesia yakinbahwa surat-surat yang dikeluarkan olehBupati Sibanjar tidak memiliki dasarhukum dan kegiatan pertambangan saatini telah sesuai dengan semua hukumyang berlaku.

PT Mining Berdikari Indonesia believesthat the letters issued by the SibanjarRegent have no legal basis and that itsmining activity is in compliance with alllaws.

b. Perjanjian penambangan, pengangkutan,pemindahan batubara, dan lainnya

b. Coal mining, transportation, barging,transhipment and other relatedagreements

Grup sebagai produsen batubaramengadakan sejumlah perjanjianpenambangan batubara. Berdasarkanperjanjian-perjanjian tersebut,Perusahaan diharuskan membayar biayajasa kepada kontraktor, dihitung secarabulanan, berdasarkan rumus yangmeliputi jumlah batubara dan overburdenyang ditambang dan diangkut. Kontraktorakan menyediakan semua sarana, mesin,perlengkapan, dan barang-barang lainyang diperlukan untuk melakukan jasapenambangan dan transportasi, dandiharuskan memenuhi persyaratanminimum produksi tertentu. Berikutadalah daftar kontraktor yang digunakanGrup.

The Group as a coal producer has enteredinto a number of coal mining agreements.Under the agreements, the Company isrequired to pay contractors a service fee,calculated on a monthly basis, based on aformula which includes the amount ofcoal and overburden mined andtransported. The contractors will provideall equipment, machinery, appliances andother supplies necessary for performingmining and transportation services andare required to meet certain minimumproduction requirements. Below is the listof contractors used by the Group.






BR-91 36. PERJANJIAN PENTING, IKATAN, DANKONTINJENSI (lanjutan)

36. SIGNIFICANT AGREEMENTS,COMMITMENTS AND CONTINGENCIES(continued)

b. Perjanjian penambangan, pengangkutan,pemindahan batubara, dan lainnya(lanjutan)

b. Coal mining, transportation, barging,transhipment and other relatedagreements (continued)

Kontraktor/Contractors

Tipe perjanjian/Agreement type

Tanggalperjanjian/Agreement

date

Akhir periodeperjanjian/

Contract period end

PT Perkasa Laju Jasa penambangan dantransportasi batubara/Coalmining and transportation

7 Oktober/October 2009

31 Desember/December 2015

PT PandinMulia

Pengangkutan batubara/Coalbarging

1 Juli/July 2010 31 Agustus/ August2017

PT UltramasSetiakawan

Sewa peralatan berat/Rental ofheavy equipment

28 September2012


PT PasopatiUnggul Jaya

Sewa peralatan berat/Rental ofheavy equipment

1 Oktober/October 2012


PT Jasa Penambangan Indonesiamenyediakan jasa kontraktorpenambangan kepada produsen batubara.Berdasarkan perjanjian-perjanjiantersebut, PT Jasa Penambangan Indonesiamenyediakan tenaga kerja, peralatan, danmaterial untuk pembuangan overburden,penambangan batubara, danpengangkutan overburden dan batubara,dan diharuskan untuk memenuhiproduksi minimum tertentu untukaktivitas-aktivitas ini. PT JasaPenambangan Indonesia menerimaimbalan jasa yang dihitung secarabulanan, berdasarkan suatu rumusan yangmeliputi beberapa klausa penyesuaian.

PT Jasa Penambangan Indonesiaprovides mining contractor services tovarious coal producers. Under theagreements, PT Jasa PenambanganIndonesia provides labour, equipment andmaterials for overburden removal, coalmining and coal transportation andoverburden hauling and is required tomeet certain minimum productionrequirements for these activities. PT JasaPenambangan Indonesia receives aservice fee calculated on a monthly basis,based on a formula which includes severaladjustment clauses.

c. Komitmen penjualan c. Sales commitments

Pada tanggal 31 Desember 2013, Grupmemiliki beberapa komitmen untukmengirimkan sekitar 17 juta metrik tonbatubara kepada beberapa pelanggan,bergantung kepada kesepakatan harga.Penjualan batubara ini akan dilakukanselama sisa periode antara 2014 dan 2017.

As at 31 December 2013, the Group hadvarious commitments to deliverapproximately 17 million metric tonnes ofcoal to various buyers, subject to priceagreements. The coal will be deliveredduring the remaining period between2014 and 2017.

d. Pengeluaran modal d. Capital expenditure

Pada tanggal 31 Desember 2013, PTMining Berdikari Indonesia mempunyaipesanan pembelian untuk peralatantambang yang belum diterima sebesarAS$7.830 dan PT Jasa PenambanganIndonesia untuk peralatan operasionalsebesar AS$1.414.

As at 31 December 2013, PT MiningBerdikari Indonesia had outstandingpurchase orders for mining equipmentamounting to US$7,830 and PT JasaPenambangan Indonesia for operationalequipment amounting to US$1,414.








e. Undang-undang Pertambangan No.4/2009

e. Mining Law No. 4/2009

Pada tanggal 16 Desember 2008, DewanPerwakilan Rakyat menyetujui Undang-Undang Pertambangan Mineral danBatubara yang baru (“Undang-UndangPertambangan”), yang telah disahkan olehPresiden pada tanggal 12 Januari 2009dan menjadi UU No. 4/2009. Sesuaidengan ketentuan dalam Undang-UndangPertambangan tersebut, seluruh entitasanak yang bergerak di bidangpenambangan batubara telah memperolehIzin Usaha Pertambangan (“IUP”).

On 16 December 2008, the House ofRepresentatives passed a new Law onMinerals and Coal Mining, whichreceived the assent of the President on 12January 2009, becoming Law No.4/2009 (the “Mining Law”). Inaccordance with the Mining Law, allsubsidiaries engaged in coal mining haveobtained a Mining Business Permit(“IUP).

Pada tanggal 1 Februari 2010, PresidenRepublik Indonesia menandatangani duaperaturan pelaksanaan untuk Undang-Undang Pertambangan tersebut, yaitu PPNo. 22/2010 dan No. 23/2010.

On 1 February 2010, the President of theRepublic of Indonesia signed twoimplementing regulations for the MiningLaw, i.e. GR No. 22/2010 and GR No.23/2010.

PP No. 22/2010 mengatur tentangpembentukan area pertambangan diIndonesia. PP No. 23/2010 menjelaskanlebih detil beragam tipe perizinanpertambangan yang ada sesuai denganyang diatur dalam Undang-UndangPertambangan ini, dan menjelaskansyarat dan kondisi dasar yang harusdipenuhi oleh pihak yang mengajukanmaupun pihak berwenang yangmengeluarkan izin pertambangan.

GR No. 22/2010 deals with theestablishment of mining areas inIndonesia. GR No. 23/2010 offers furtherdetails of different types of mininglicenses which may be made availableunder this Mining Law, and sets out thebasic terms and conditions which need tobe satisfied by license applicants andissuing authorities.

Pada tanggal 21 Februari 2012,Pemerintah Indonesia mengubah PP No.23/2010 dengan menerbitkan PP No.24/2012, yang mengatur mengenaipengalihan IUP, divestasi dan wilayahpertambangan.

On 21 February 2012, the Government ofIndonesia amended GR No. 23/2010 byissuing GR No 24/2012, which regulatesthe transfer to IUPs, divestment andmining areas.

Grup memonitor secara seksamaperkembangan atas peraturan pelaksanadari Undang-Undang Pertambangantersebut dan akan mempertimbangkandampaknya terhadap operasi Grup, jikaada, pada saat peraturan-peraturanpelaksana ini diterbitkan.

The Group is closely monitoring theprogress of the implementing regulationsfor the Mining Law and will consider theimpact on its operations, if any, as theseregulations are issued.








f. Peraturan Menteri No. 28/2009 f. Ministerial Regulation No. 28/2009

Pada bulan September 2009, MenteriEnergi dan Sumber Daya Mineralmengeluarkan Peraturan Menteri No.28/2009, yang salah satu isinyamengharuskan persetujuan DirekturJenderal untuk penggunaan perusahaanafiliasi sebagai jasa kontraktorpertambangan. Peraturan tersebutmemberikan definisi tersendiri tentangapa yang dimaksud dengan perusahaanafiliasi dan memberikan pengecualianhanya apabila tidak terdapat perusahaanjasa pertambangan sejenis padakabupaten/kota dan/atau provinsi, atauapabila tidak terdapat perusahaankontraktor pertambangan yang mampu dilokasi tersebut. Dalam peraturantersebut, perusahaan pemilik konsesipertambangan, berdasarkan kontrak yangtelah ada, diwajibkan untukmelaksanakan sendiri semua aktivitaspenggalian batubaranya dalam waktu tigatahun setelah peraturan ini dikeluarkan,kecuali pada kontrak baru dimanakewajiban tersebut berlaku efektif sejaktanggal kontrak.

In September 2009, the Minister ofEnergy and Mineral Resources issuedMinisterial Regulation No. 28/2009,which, among others, requires theDirectorate General’s approval to use anaffiliate as a mining services contractor.The regulation provides a definition ofaffiliates and provides exceptions onlywhen there are no similar mining servicescompanies in the regency/city and/orprovince, or when there are no othercapable mining service companiesoperating in the area. The regulationrequires mining concession companiesunder their existing contracts to conductall coal extraction activities themselveswithin three years after the issue of theregulation, except for new contractswhere the obligation is effective from thedate of the contract.

Oleh sebab itu, PT Mining BerdikariIndonesia, PT Mining Swadaya Indonesiadan PT Mining Mandiri Indonesiadiharuskan untuk mengembangkansendiri kemampuan penggalianbatubaranya sebagai penggantiketergantungan pada kontraktor pihakketiga. Peraturan tersebut memberikanmasa transisi selama tiga tahun untukketentuan ini.

Accordingly, PT Mining BerdikariIndonesia, PT Mining Swadaya Indonesiaand PT Mining Mandiri Indonesia will berequired to develop its own extractioncapabilities in lieu of relying on thirdparty contractors. The regulationprovides a three year transition period forchanges to existing arrangements.

Direktur Jenderal Mineral, Batubara, danPanas Bumi telah mengeluarkanPeraturan Direktur Jenderal No.376.K/30/DJB/2010 tertanggal 10 Mei2010 mengenai tata cara dan persyaratanpermohonan persetujuan keikutsertaanentitas anak dan afiliasi dalam usaha jasapertambangan (“Peraturan Dirjen”).Peraturan Dirjen mengatur lebih lanjutPeraturan Menteri No. 28/2009,khususnya mengenai tata cara danpersyaratan permohonan persetujuankeikutsertaan entitas anak dan/atauafiliasi dalam usaha jasa pertambangan.

The Director General of Mineral, Coal andGeothermal has recently issued DirectorGeneral Regulation No.376.K/30/DJB/2010 dated 10 May 2010regarding the procedures andrequirements for requesting approval forinvolving a subsidiary and/or an affiliatein mining services activities (the “DirgenRegulation”). The Dirgen Regulationfurther regulates Ministerial RegulationNo. 28/2009, specifically regarding theprocedures and requirements for theinvolvement of a subsidiary and/or anaffiliate in mining services activities.








f. Peraturan Menteri No. 28/2009(lanjutan)

f. Ministerial Regulation No. 28/2009(continued)

Pada tanggal 8 Oktober 2012, PeraturanMenteri No. 28/2009 digantikansebagian dengan Peraturan Menteri No.24/2012 yang mengatur bahwa PTMining Berdikari Indonesia, PT MiningSwadaya Indonesia dan PT MiningMandiri Indonesia dapat menyewaperalatan dari perusahaan jasapertambangan manapun yang memilikiSurat Keterangan Terdaftar yangditerbitkan oleh Kementerian, Gubernur,atau Bupati sesuai dengankewenangannya.

On 8 October 2012, MinisterialRegulation No. 28/2009 is partiallyamended with Ministerial Regulation No.24/2012, which regulates that PT MiningBerdikari Indonesia, PT Mining SwadayaIndonesia and PT Mining MandiriIndonesia may lease equipment from anymining supporting companies holding theCertificate of Registration issued by theMinister, Governor, Regent inaccordance to the authorities.

Manajemen telah mematuhi PeraturanMenteri No. 28/2009 yangmengharuskan PT Mining BerdikariIndonesia, PT Mining Swadaya Indonesiadan PT Mining Mandiri Indonesia untukmelakukan aktivitas penggalian batubarasendiri maupun Peraturan Menteri No.24/2012 mengenai penyewaan peralatan.Kedua peraturan menteri tersebut tidakmengubah secara substansial strukturoperasi PT Mining Berdikari Indonesia,PT Mining Swadaya Indonesia dan PTMining Mandiri Indonesia.

Management has complied withMinisterial Regulation No.28/2009 thatrequires PT Mining Berdikari Indonesia,PT Mining Swadaya Indonesia and PTMining Mandiri Indonesia to carry outcoal extraction activities themselves, aswell as Ministerial Regulation No.24/2012 regarding equipment leases.Neither regulation inflicts any impact orsubstantial change upon the structure ofoperations of PT Mining BerdikariIndonesia, PT Mining SwadayaIndonesia and PT Mining MandiriIndonesia.

g. Peraturan Menteri No. 34/2009 g. Ministerial Regulation No. 34/2009

Pada bulan Desember 2009, MenteriEnergi dan Sumber Daya Mineralmengeluarkan Peraturan Menteri No.34/2009 yang mewajibkan perusahaanpertambangan untuk menjual sebagianhasil produksinya kepada pelanggandomestik (“Domestic Market Obligation”atau “DMO”).

In December 2009, the Minister ofEnergy and Mineral Resources issuedanother regulation, MinisterialRegulation No. 34/2009, which providesa legal framework requiring miningcompanies to sell a portion of their outputto domestic customers (the “DomesticMarket Obligation” or “DMO”).

Pada tanggal 12 September 2012, MenteriEnergi dan Sumber Daya Mineralmengeluarkan Keputusan Menteri No.1000/MEM/2012 tentang PenetapanKebutuhan dan Persentase MinimalPenjualan Batubara Untuk KepentinganDalam Negeri Tahun 2013 yangmenetapkan persentase batas minimalDMO tahun 2013 adalah sebesar 20,20%(2012: 20,47%). Grup telah memenuhibatas minimum DMO untuk tahun 2013.

On 12 September 2012, the Minister ofEnergy and Mineral Resources issuedMinisterial Decree No. 1000/MEM/2012regarding the Setting of theRequirement and Minimum Percentageof Coal Sales for Domestic ConsumptionYear 2013 which states the minimumDMO percentage for the year 2013 is20.20% (2012: 20.47%). The Group hasmet the minimum requirement for theyear 2013.








g. Peraturan Menteri No. 34/2009(lanjutan)

g. Ministerial Regulation No. 34/2009(continued)

Pada tanggal 30 Juli 2013, Menteri Energidan Sumber Daya Mineral mengeluarkanKeputusan Menteri No. 2901K/30/MEM/2013 tentang PenetapanKebutuhan dan Persentase MinimalPenjualan Batubara untuk KepentinganDalam Negeri Tahun 2014 yangmenetapkan persentase batas minimalDMO tahun 2014 adalah sebesar 25,90%.Grup terus memonitor jumlah DMO ditahun 2014 dan memastikan bahwa Grupmemenuhi ketentuan DMO.

On 30 July 2013, the Minister of Energyand Mineral Resources issuedMinisterial Decree No. 2901K/30/MEM/2013 regarding the Settingof the Requirement and MinimumPercentage of Coal Sales for DomesticConsumption Year 2014 which statesthat the minimum DMO percentage forthe year 2013 is 25.90%. The Group isclosely monitoring the quantity of DMOfor 2014 and will ensure that the Groupfulfills the DMO requirement.

h. Peraturan Menteri No. 17/2010 h. Ministerial Regulation No. 17/2010

Pada bulan September 2010, MenteriEnergi dan Sumber Daya Mineralmengeluarkan Peraturan Menteri No.17/2010 tentang Tata Cara PenetapanHarga Patokan Penjualan Mineral danBatubara, yang mengatur bahwapenjualan batubara harus dilakukandengan mengacu pada harga patokanbatubara sebagaimana ditetapkan olehPemerintah.

In September 2010, the Minister ofEnergy and Mineral Resources issuedMinisterial Regulation No. 17/2010 onthe Procedure for the Setting ofBenchmark Prices For Mineral and CoalSales, which regulates that the sale ofcoal shall be conducted with reference tothe benchmark price issued by theGovernment.

Pada tanggal 3 Maret 2011, MenteriEnergi dan Sumber Daya Mineralmengeluarkan Keputusan Menteri No.0617 K/32/MEM/2011 tentang HargaBatubara UntukPT Perusahaan Listrik Negara (Persero)(“PLN”) Dalam Rangka PengoperasianPembangkit Listrik Tenaga Uap.

On 3 March 2011, the Minister of Energyand Mineral Resources issuedMinisterial Decision No. 0617K/32/MEM/2011 on The BenchmarkPrice for PT Perusahaan Listrik Negara(Persero) (“PLN”) for the Operation of aCoal Fired Power Plant.

Pada tanggal 24 Maret 2011, DirekturJenderal Mineral, Batubara, dan PanasBumi mengeluarkan Peraturan DirekturJenderal No. 515.K/32/DJB/2011 tentangFormula untuk Penetapan Harga PatokanBatubara.

On 24 March 2011, the Director Generalof Mineral, Coal and Geothermal issuedDirector General Regulation No.515.K/32/DJB/2011 on the Formula forSetting the Coal Benchmark Price.

Pada tanggal 26 Agustus 2011, DirekturJenderal Mineral dan Batubaramengeluarkan Peraturan DirekturJenderal No. 999.K/30/DJB/2011 tentangTata Cara Penetapan Besaran BiayaPenyesuaian Harga Patokan Batubara.

On 26 August 2011, the Director Generalof Mineral and Coal issued DirectorGeneral Regulation No.999.K/30/DJB/2011 on the Procedurefor Determining the Adjustment of CoalBenchmark Price.

Grup telah memenuhi ketentuan dalamperaturan tersebut, sebagaimanadimaksud diatas.

The Group has complied with therequirements of the regulationsmentioned above.






BR-50 37. JAMINAN REKLAMASI 37. RECLAMATION GUARANTEEBR-91

Pada tanggal 29 Mei 2008, Menteri Energi danSumber Daya Mineral mengumumkanperaturan baru mengenai reklamasi tambangdan penutupan tambang yang termaktubdalam Peraturan Menteri No. 18/2008. Dalamperaturan tersebut ditetapkan bahwa suatuperusahaan disyaratkan untuk menyediakanjaminan untuk reklamasi tambang danpenutupan tambang yang dapat berupadeposito berjangka, jaminan bank, atauasuransi, yang jangka waktunya sesuai denganjadwal reklamasi.

On 29 May 2008, the Minister of Energy andMineral Resources announced a new regulationregarding mine reclamations and mineclosures, as detailed in Ministerial RegulationNo. 18/2008. It is stated that a company isrequired to provide mine reclamation and mineclosure guarantees which may be in the form ofa time deposit, bank guarantee or insurance, allwith a duration corresponding to thereclamation schedule.

Pada tanggal 20 Desember 2010, PemerintahIndonesia mengeluarkan peraturanimplementasi atas Undang-Undang MineralNo. 4/2009, yaitu Peraturan Pemerintah No.78/2010 (“PP No. 78”) yang mengatur aktivitasreklamasi dan pasca tambang untuk pemegangIUP-Eksplorasi dan IUP-Operasi Produksi.Peraturan ini memperbarui Peraturan MenteriNo. 18/2008 yang dikeluarkan oleh MenteriEnergi dan Sumber Daya Mineral pada tanggal29 Mei 2008.

On 20 December 2010, the Government ofIndonesia released an implementing regulationfor Mining Law No. 4/2009, i.e. GovernmentRegulation No. 78/2010 (“GR No. 78”) that dealswith reclamations and post-mining activities forboth IUP-Exploration and IUP-ProductionOperation holders. This regulation updatesMinisterial Regulation No. 18/2008 issued bythe Minister of Energy and Mineral Resourceson 29 May 2008.

Pemegang IUP-Operasi Produksi,ketentuannya antara lain, harus menyiapkan(1) rencana reklamasi lima tahunan; (2)rencana pasca tambang; (3) menyediakanjaminan reklamasi yang dapat berupa rekeningbersama atau deposito berjangka yangditempatkan pada bank pemerintah, bankgaransi, atau cadangan akuntansi (biladiijinkan); dan (4) menyediakan jaminanpasca tambang berupa deposito berjangkayang ditempatkan di bank pemerintah.

An IUP-Production Operation holder, amongother requirements, must prepare (1) a five-year reclamation plan; (2) a post-mining plan;(3) provide a reclamation guarantee whichmay be in the form of a joint account or timedeposit placed at a stateowned bank, a bankguarantee, or an accounting provision (ifeligible); and (4) provide a post-mineguarantee in the form of a time deposit at astate-owned bank.

Penempatan jaminan reklamasi dan jaminanpasca tambang tidak menghilangkankewajiban pemegang IUP dari ketentuanuntuk melaksanakan aktivitas reklamasi danpasca tambang.

The requirement to provide a reclamationguaranteeand a post-mining guarantee doesnot release the IUP holder from therequirement to perform reclamation and post-mining activities.

Berdasarkan Surat Keputusan DJM No.7272/37.06/DJB/2013 tertanggal 15 Maret2013 and No.115/30/DJB/2013 tertanggal 9Maret 2013, PT Mining Mandiri Indonesia andPT Mining Swadaya Indonesia diwajibkanuntuk menyediakan Jaminan Reklamasi dalambentuk jaminan pelaksanaan. Pada tanggal 31Desember 2013, PT Mining Mandiri Indonesiadan PT Mining Swadaya Indonesia telahmenempatkan jaminan reklamasi dalambentuk jaminan pelaksanaan sejumlah Rp12,8miliar (2012: Rp7,5 miliar) atau setara denganAS$1.110 (2012: AS$776).

Based on the Decree of the DGoMC No.7272/37.06/DJB/2013 dated 15 March 2013and No. 115/30/DJB/2013 dated 9 March2013, PT Mining Mandiri Indonesia and PTMining Swadaya Indonesia are required toprovide a Reclamation Guarantee in the formof performance bonds. As at 31 December 2013,PT Mining Mandiri Indonesia and PT MiningSwadaya Indonesia had placed reclamationguarantees in the form of performance bondsamounting to Rp12.8 billion (2012: Rp7.5billion) or equivalent to US$1,110 (2012:US$776).






BR-50 37. JAMINAN REKLAMASI (lanjutan) 37. RECLAMATION GUARANTEE (continued)BR-91

PT Mining Berdikari Indonesia telahmenyampaikan rencana penutupantambangnya yang telah disetujui ESDM padatanggal 14 Maret 2013.

PT Mining Berdikari Indonesia has submittedits mine closure plan which has been approvedby the MoEMR on 14 March 2013.

BR-86 38. ASET ATAU LIABILITAS MONETERNETO DALAM MATA UANG ASING

38. NET MONETARY ASSETS ORLIABILITIES DENOMINATED INFOREIGN CURRENCIES

Grup memiliki aset dan liabilitas dalam matauang asing dengan rincian sebagai berikut(dalam satuan penuh, kecuali jumlah setaraDolar AS):

The Group has assets and liabilitiesdenominated in foreign currencies as follows(in full amounts, except US Dollarsequivalents):

2013Dolar Pound Sterling Setara

Singapura/ Inggris/ Dolar AS/USSingapore Great Britain Dollar

Rupiah Dollars Pounds Sterling equivalentAset AssetsKas dan setara kas 152,845,128 - - 13,254 Cash and cash equivalentsPiutang usaha 79,997,484 - - 6,937 Trade receivablesAset tidak lancar lainnya 12,800,520 - - 1,110 Other non-current assets

245,643,132 - - 21,301

Liabilitas LiabilitiesUtang usaha (125,744,928) (707) (548) (12,261) Trade payablesLiabilitas imbalan kerja Short-term employee

jangka pendek (1,729,800) - - (150) benefit liabilitiesKewajiban imbalan pasca Post-employement benefit

kerja (59,389,800) - - (5,150) obligationsPajak lain-lain (70,898,736) - - (6,148) Other taxes

(257,763,264) (707) (548) (23,709)

Liabilitas neto (12,120,132) (707) (548) (2,408) Net liabilities

Dalam ekuivalen Dolar AS (1,051) (650) ( 707) (2,408) US Dollar equivalent

2012Dolar Pound Sterling Setara

Singapura/ Inggris/ Dolar AS/USSingapore Great Britain Dollar

Rupiah Dollars Pounds Sterling equivalent

Aset AssetsKas dan setara kas 119,134,400 - - 12,320 Cash and cash equivalentsPiutang usaha 98,343,900 - - 10,170 Trade receivablesAset tidak lancar lainnya 7,503,920 - - 776 Other non-current assets

224,982,220 - - 23,266

Liabilitas LiabilitiesUtang usaha (65,756,000) (822) (310) (7,974) Trade payablesLiabilitas imbalan kerja Short-term employee

jangka pendek (1,305,450) - - (135) benefit liabilitiesKewajiban imbalan pasca Post-employement benefit

kerja (40,430,270) - - (4,181) obligationsPajak lain-lain (26,186,360) - - (2,708) Other taxes

(133,678,080) (822) (310) (14,998)

Aset neto 90,404,140 (822) (310) 8,268 Net asset

Dalam ekuivalen Dolar AS 9,348 (674) (500) 8,268 US Dollar equivalent






BR-86 38. ASET ATAU LIABILITAS MONETERNETO DALAM MATA UANG ASING(lanjutan)

38. NET MONETARY ASSETS ORLIABILITIES DENOMINATED INFOREIGN CURRENCIES (continued)

Aset dan liabilitas moneter di atas dijabarkanmenggunakan kurs penutupan Bank Indonesiatanggal 31 Desember 2013.

Monetary assets and liabilities mentioned aboveare translated using the Bank of Indonesiaclosing rate as at 31 December 2013.

Apabila aset dan liabilitas dalam mata uangasing pada tanggal 31 Desember 2013dijabarkan dengan menggunakan kurspenutupan mata uang asing pada tanggallaporan ini, maka liabilitas neto dalam matauang asing Grup akan naik sekitar AS$120.

If assets and liabilities in foreign currencies asat 31 December 2013 had been translated usingthe closing rates as at the date of this report, thetotal net foreign currency liabilities of theGroup would be increased by approximatelyUS$120.

60p8 39. ASET DAN LIABILITAS KEUANGAN 39. FINANCIAL ASSETS AND LIABILITIES

Pada tanggal laporan posisi keuangankonsolidasian, Grup tidak memiliki asetmaupun kewajiban keuangan yang nilaiwajarnya diakui melalui laporan laba rugi danaset keuangan yang dimiliki hingga jatuhtempo.

As at the consolidated statements of financialposition date, the Group did not have financialassets and liabiities at fair value through profitand loss or held-to-maturity financial assets.

Informasi di bawah ini terkait dengan aset danliabilitas keuangan Grup berdasarkankategori:

The information given below relates to theGroup’s financial assets and liabilities bycategory:

Aset keuangantersedia

Pinjaman untuk dijual/dan piutang/ Available-for-

Loan and sale financial Jumlah/receivables assets Total

31 Desember/December 2013Kas dan setara kas/Cash and

cash equivalents 105,837 - 105,837Piutang usaha/Trade receivables 40,230 - 40,230Aset keuangan tersedia untuk dijual/Available-

for-sale financial assets - 2,000 2,000Aset tidak lancar lainnya/Other non-current assets 1,110 - 1,110

Jumlah/Total 147,177 2,000 149,177

31 Desember/December 2012Kas dan setara kas/Cash and

cash equivalents 81,480 - 81,480Piutang usaha/Trade receivables 32,854 - 32,854Aset keuangan tersedia untuk dijual/Available-

for-sale financial assets - 380 380Aset tidak lancar lainnya/Other non-current assets 776 - 776

Jumlah/Total 115,110 380 115,490






60p8 39. ASET DAN LIABILITAS KEUANGAN(lanjutan)

39. FINANCIAL ASSETS AND LIABILITIES(continued)

Liabilitaskeuangan diukur

Liabilitas pada nilai wajardiukur pada melalui laba

biaya rugi/ Liabilitiesamortisasi/ at fair value

Liabilities at throughamortised profit and Jumlah/

cost loss Total

31 Desember/December 2013Utang dagang/Trade payables 34,507 - 34,507Liabilitas imbalan kerja jangka pendek

/Short-term employee benefit liabilities 150 - 150Beban akrual/Accrued expenses 6,387 - 6,387Utang sewa pembiayaan/Finance lease payables 14,406 - 14,406Utang bank/Bank loans 83,500 - 83,500Obligasi konversi/Convertible bonds 95,127 - 95,127Utang nonusaha pihak berelasi/Non-trade related

party payables 10,535 - 10,535

Jumlah/Total 244,612 - 244,612

31 Desember/December 2012Utang dagang/Trade payables 14,314 - 14,314Beban akrual/Accrued expenses 7,713 - 7,713Liabilitas imbalan kerja jangka pendek

/Short-term employee benefit liabilities 135 - 135Utang sewa pembiayaan/Finance lease payables 7,553 - 7,553Utang bank/Bank loans 59,750 - 59,750Obligasi konversi/Convertible bonds 95,088 - 95,088Utang nonusaha pihak berelasi/Non-trade related

party payables 14,488 - 14,488

Jumlah/Total 199,041 - 199,041

1p113(d)(ii) 40. MANAJEMEN RISIKO KEUANGAN 40. FINANCIAL RISK MANAGEMENT

60p34 (1) Faktor risiko keuangan (1) Financial risk factors

60p3360p34BR-89BR-90

Aktivitas Grup rentan terhadap berbagairisiko keuangan: risiko pasar (termasukrisiko nilai mata uang, risiko tingkatbunga dan risiko harga), risiko kredit danrisiko likuiditas. Program manajemenrisiko Grup secara keseluruhandipusatkan pada pasar keuangan yangtidak dapat diprediksi dan Grup berusahauntuk memperkecil efek yang berpotensimerugikan kinerja keuangan Grup.

The Group’s activities are exposed to avariety of financial risks: market risk(including currency risk, fair value interestrate risk, cash flow interest rate risk andprice risk), credit risk and liquidity risk.The Group’s overall risk managementprogramme focuses on the unpredictabilityof financial markets and seeks to minimisepotential adverse effects on the Group’sfinancial performance.

60p34 Manajemen risiko merupakan tanggungjawab Direksi, yang dibantu oleh KomiteManajemen Risiko Keuangan (“KomiteMRK”). Komite MRK terdiri atas FinanceController dan Manajer Operasional setiapentitas anak, dan dipimpin oleh DirekturKeuangan. Direksi bertugas menentukanprinsip dasar kebijakan manajemen risikoGrup secara keseluruhan serta kebijakanpada area tertentu seperti risiko matauang asing, risiko suku bunga, risikokredit, penggunaan instrumen keuanganderivatif dan instrumen keuangannonderivatif dan investasi atas kelebihanlikuiditas.

Risk management is the responsibility ofthe Board of Directors, supported by theFinancial Risk Management Committee(the “Committee”). The Committee,comprising the Finance Controller andOperational Manager of each subsidiary,is led by the Finance Director. The Boardof Directors has the responsibility todetermine the basic principles of theGroup’s risk management as well asprinciples covering specific areas, such asforeign exchange risk, interest rate risk,credit risk, the use of derivative financialinstruments and the investment of excessliquidity.






1p113(d)(ii) 40. MANAJEMEN RISIKO KEUANGAN(lanjutan)

40. FINANCIAL RISK MANAGEMENT(continued)

60p34 (1) Faktor risiko keuangan (lanjutan) (1) Financial risk factors (continued)

Grup menggunakan berbagai metodeuntuk mengukur risiko yang dihadapinya.Metode ini meliputi analisis sensitivitasuntuk risiko tingkat suku bunga, nilaitukar dan risiko harga lainnya dananalisis umur piutang untuk risiko kredit.

The Group uses various methods tomeasure risk to which it is exposed. Thesemethods include sensitivity analysis in thecase of interest rate, foreign exchange andother price risks and aging analysis forcredit risk.

60p34 Sementara itu, Komite MRK bertugasmembantu Direksi dalam melaksanakantanggung jawabnya untuk memastikanbahwa manajemen risiko telahdilaksanakan sesuai dengan prinsip yangtelah ditetapkan.

Meanwhile, the Committee has aresponsibility to assist the Board ofDirectors in ensuring that riskmanagement has been implemented inaccordance with these principles.

60p43 (a) Risiko pasar (a) Market risk

60pPI132

60p36(a)

(i) Risiko nilai tukar mata uangasing

Pembiayaan dan sebagianbesar pendapatan danpengeluaran operasi darientitas anak yang beroperasidari Perusahaan didenominasidalam mata uang Dolar AS,yang secara tidak langsungmerupakan lindung nilai alami(natural hedging) terhadapeksposur fluktuasi nilai tukarmata uang asing. Manajementelah membuat kebijakanuntuk mengelola risiko nilaitukar mata uang asingterhadap mata uang fungsionalperusahaan dalam Grup.

(i) Foreign exchange risk

The financing and the majority ofrevenue and operatingexpenditure of the operatingsubsidiaries of the Company aredenominated in US Dollars, whichindirectly represents a naturalhedge on exposure to fluctuationsin foreign exchange rates.Management has set up a policyto require companies within theGroup to manage their foreignexchange risk against theirfunctional currency.

60p43(a)60p36(a)BR-90

BR-89

Pada tanggal 31 Desember2013 jika mata uang Rupiahmelemah/menguat sebesar10% terhadap Dolar AS dengansemua variabel konstan, labasetelah pajak dalam tahunberjalan akan menjadi lebihrendah/lebih tinggi AS$793(2012: lebih rendah/lebihtinggi AS$1.452), terutamadiakibatkan penjabarankeuntungan/ kerugiantranslasi kas dan setara kas,piutang usaha, utang usaha,beban akrual, dan utang pajak.Laba lebih sensitif terhadappergerakan mata uang Rupiahdi tahun 2012 dibanding tahun2013 karena penurunanjumlah aset dalam Rupiah.

As at 31 December 2013, if theRupiah currency hadweakened/strengthened by 10%against the US Dollars with allother variables held constant, thepost-tax profit for the year wouldhave been US$793 lower/higher(2012: US$1,452 lower/higher),respectively, mainly as a result offoreign exchange gains/losses onthe translation of Rupiahdenominated cash and cashequivalents, trade receivables,trade payables, accrued expensesand taxes payable. Profit is moresensitive to movements incurrency Rupiah exchange ratesin 2012 than 2013 because of thedecreased amount of Rupiahdenominated assets.









60p43 (a) Risiko pasar (lanjutan) (a) Market risk (continued)

60pPI13260p36(a)

(ii) Risiko harga (ii) Price risk

60pPI132

60p36(a)

Grup terekspos terhadap risikoharga komoditas karenabatubara adalah produkkomoditas yangdiperjualbelikan di pasarbatubara dunia. Hargabatubara Grup ditentukanberdasarkan harga batubaradunia, yang cenderung sangatmengikuti siklus dan dapatberfluktuasi secara signifikan.Sebagai produk komoditas,harga batubara dunia sangattergantung pada dinamikapasokan dan permintaanbatubara di pasar ekspordunia. Grup belummengadakan perjanjianperdagangan batubara danbelum melakukan perikatanharga batubara jangka panjanguntuk melakukan lindung nilaiterhadap fluktuasi hargabatubara, tetapi dapat sajamelakukannya di masa depan.Sebaliknya, Grup melakukankontrak penjualan batubaradengan beberapa pelangganmenggunakan harga tetapselama satu tahun untukmelindungi sebagian daripendapatan untuk tiaptahunnya.

The Group is exposed tocommodity price risk because coalis a commodity product traded inthe world coal markets. Prices forGroup’s coal are based on globalcoal prices, which tend to behighly cyclical and subject tosignificant fluctuations. As acommodity product, global coalprices are principally dependenton the supply and demanddynamics of coal in the worldexport market. The Group did notengage in trading coal contractsand has not entered into longterm coal pricing agreements tohedge its exposure to fluctuationsin the coal price but may do so inthe future. Instead, the Groupentered into one-year fixed pricecoal contracts with some of itscustomers to safeguard a portionof its revenue for each year.

Grup juga terekspos terhadapharga komoditas berkaitandengan pembelian bahan bakarminyak yang diperlukan untukmenjalankan operasipenambangan batubara. Selainitu, untuk jasa penambanganyang diberikan kepadapelanggannya, untuk mengaturrisiko harga, Grupmengadakan kontrak jangkapanjang dengan pelanggannya(maksimal lima tahun) yangmemperbolehkan penyesuaianharga ketika harga bahanbakar minyak naik.

The Group is also exposed tocommodity price risk relating topurchases of fuel necessary to runits coal mining operations.Besides this, for mining servicesprovided to its customers, inorder to manage price risk, theGroup entered into long-termcontracts with its customers(maximum five years) which alsoallow for price adjustments whenthe fuel price increases.










60pPI13260p36(a)

(ii) Risiko harga (lanjutan) (ii) Price risk (continued)

Pada tanggal 31 Desember2013, tidak terdapat aset danliabilitas keuangan dengannilai tercatat yang secaralangsung berkaitan denganharga pasar komoditas ataukontrak derivatif komoditas.

At 31 December 2013, there wereno financial assets or liabilitieswith a carrying amount directlylinked to market commodityprices or commodity derivativecontracts.

60pPI132

60p36(a)

(iii) Risiko tingkat suku bunga aruskas dan nilai wajar

Grup memiliki pinjamandengan tingkat suku bungavariabel sehingga Grupterekspos risiko suku bungaarus kas. Untuk mengurangirisiko perubahan tingkat sukubunga yang menyebabkanadanya ketidakpastian arus kasterhadap pembayaran bebanbunga di masa depan, Grup:

(iii) Cash flow and fair value interestrate risk

The Group has borrowing thatare subject to variable interestrates, as such the Group isexposed to cash flow interest raterisk. In order to minimise interestrate risks which increase theuncertainty of the cash flows forinterest payments in the future,the Group:

a) Memonitor tingkat sukubunga di pasar; dan

a) Monitors interest rates in themarket; and

b) Mengimplementa sikanmanajemen kas untukmeminimalkan bebanbunga.

b) Implements cash managementmeasures to minimise interestexpenses.

Untuk tahun yang berakhirpada tanggal 31 Desember2013, jika tingkat bunga ataspinjaman yangdidenominasikan dalam DolarAS lebih tinggi/rendah sepuluhbasis poin dan variabel laindianggap tetap, laba setelahpajak untuk tahun berjalanakan lebih rendah/tinggisebesar AS$63, terutamasebagai akibattingginya/rendahnya bebanbunga dari pinjaman dengansuku bunga mengambang.

For the year ended 31 December2013, if interest rates on USDollars-denominated borrowingshad been ten basis pointshigher/lower with all othervariables held constant, post-taxprofit for the year would havebeen US$63 lower/higher, mainlyas a result of higher/lowerinterest expenses on floating rateborrowings.










60pPI132 (iii) Risiko tingkat suku bunga aruskas dan nilai wajar (lanjutan)

(iii) Cash flow and fair value interestrate risk (continued)

Tabel berikut menyajikan asetdan liabilitas keuangan Grupyang terpengaruh oleh risikosuku bunga tersebut di atas:

The following table presents abreakdown of the Group’sfinancial assets and financialliabilities on which interest raterisk may have an impact as notedabove:

Suku bunga mengambang/ Suku bunga tetap/Floating Rate Fixed Rate

TanpaKurang dari Lebih dari Kurang dari Lebih dari bunga/satu tahun/ satu tahun/ satu tahun/ satu tahun/ Non-Less than Greater than Less than Greater than interest Jumlah/one year one year one year one year bearing Total

31 Desember 2013 31 December 2013Aset Assets

Cash and cashKas dan setara kas 58,278 - 44,388 - 3,171 105,837 equivalentsPiutang usaha - - - - 40,230 40,230 Trade receivablesAset keuangan tersedia untuk Available-for-sale

dijual - - - - 2,000 2,000 financial assetsAset tidak lancar lainnya - 1,110 - - - 1,110 Other non-current assets

Jumlah aset keuangan 58,278 1,110 44,388 - 45,401 149,177 Total financial assets

Liabilitas LiabilitiesUtang usaha - - - - 34,507 34,507 Trade payablesBeban akrual - - - - 6,387 6,387 Accrued expensesLiabilitas imbalan kerja jangka Short-term employee benefit

pendek - - - - 150 150 liabilitiesUtang sewa pembiayaan - - 3,018 11,388 - 14,406 Finance leases payableUtang bank 39,000 44,500 - - - 83,500 Bank loansObligasi konversi - - - 95,127 - 95,127 Convertible bonds

Non-trade relatedUtang nonusaha pihak berelasi - - - - 10,535 10,535 party payables

Jumlah liabilitas Total financialkeuangan 39,000 44,500 3,018 106,515 51,579 244,612 liabilities

31 Desember 2012 31 December 2012Aset Assets

Cash and cashKas dan setara kas 42,122 - 35,917 - 3,441 81,480 equivalentsPiutang usaha - - - - 32,854 32,854 Trade receivablesAset keuangan tersedia untuk Available-for-sale

dijual - - - - 380 380 financial assetsAset tidak lancar lainnya - 776 - - - 776 Other non-current assets

Jumlah aset keuangan 42,122 776 35,917 - 36,675 115,490 Total financial assets

Liabilitas LiabilitiesUtang usaha - - - - 14,314 14,314 Trade payablesBeban akrual - - - - 7,713 7,713 Accrued expensesLiabilitas imbalan kerja jangka Short-term employee benefit

pendek - - - - 135 135 liabilitiesUtang sewa pembiayaan - - 1,451 6,102 - 7,553 Finance leases payableUtang bank 23,250 36,500 - - - 59,750 Bank loansObligasi konversi - - - 95,088 - 95,088 Convertible bonds

Non-trade relatedUtang nonusaha pihak berelasi - - - 14,488 - 14,488 party payables

Jumlah liabilitas Total financialkeuangan 23,250 36,500 1,451 115,678 22,612 199,041 liabilities









60p39 (b) Risiko kredit (b) Credit risk

60p36(a)60p36(b)

Risiko kredit dikelola secaraberkelompok, kecuali risiko kreditsehubungan dengan saldo piutang.Setiap entitas bertanggung jawabmengelola dan menganalisa risikokredit pelanggan barunya sebelumpersyaratan pembayaran dandistribusi ditawarkan. Risiko kredittimbul dari kas dan setara kas,maupun risiko kredit yang timbuldari pelanggan, termasuk piutangyang belum dibayar dan transaksiyang mengikat. Untuk bank danlembaga keuangan, hanya yangsecara independen dinilai denganperingkat minimum “A” yangditerima.

Credit risk is managed on a group basisexcept for credit risk relating toaccounts receivable balances. Eachentity is responsible for managing andanalysing the credit risk for each oftheir new clients before standardpayment and delivery terms andconditions are offered. Credit riskarises from cash and cash equivalents,as well as credit exposures tocustomers, including outstandingreceivables and committedtransactions. For banks and financialinstitutions, only independently ratedparties with a minimum rating of “A”are accepted.

Tidak ada batasan kredit yangdilampaui selama periode pelaporandan manajemen tidakmengharapkan kerugian darikegagalan pihak-pihak dalammelunasi utangnya.

No credit limits were exceeded duringthe reporting period, and managementdoes not expect any losses from non-performance by these counterparties.

BR-90 Lihat Catatan 6 untuk informasipiutang yang belum jatuh tempodan tidak mengalami penurunannilai, serta piutang yang telah jatuhtempo namun tidak mengalamipenurunan nilai.

Refer to Note 6 for the informationregarding not past due and unimpairedreceivables and also past duereceivables but not impaired.

60p39(c) Kualitas kredit dari aset keuanganbaik yang belum jatuh tempo atautidak mengalami penurunan nilaidapat dinilai dengan mengacu padaperingkat kredit eksternal (jikatersedia) atau mengacu padainformasi historis mengenai tingkatgagal bayar debitur.

Pada tanggal 31 December 2013,jumlah maksimum eksposur daririsiko kredit adalah AS$146.466(2012: AS$112.289). Risiko kreditterutama berasal dari penempatandana pada bank, depositoberjangka, piutang usaha, dan asetkeuangan tersedia untuk dijual.

The credit quality of financial assetsthat are neither past due nor impairedcan be assessed with reference toexternal credit ratings (if available) orto historical information aboutcounterparty default rates.

As at 31 December 2013, the totalmaximum exposure to credit risk wasUS$146,466 (2012: US$112,289). Creditrisk arises from cash in banks, timedeposits, trade receivables, andavailable-for-sale assets.









60p39 (b) Risiko kredit (lanjutan) (b) Credit risk (continued)

Semua kas di bank, depositoberjangka, dan kas dan depositoberjangka yang dibatasipenggunaannya ditempatkan dibank asing dan lokal yang memilikireputasi.

All cash in banks, time deposits andrestricted cash and time deposits areplaced with reputable foreign and localbanks.

Kualitas kredit dari aset keuanganbaik yang belum jatuh tempo, telahjatuh tempo tetapi tidak mengalamipenurunan nilai dan yangmengalami penurunan nilai dapatdinilai dengan mengacu padaperingkat kredit eksternal (jikatersedia) atau mengacu padainformasi historis mengenai tingkatgagal bayar debitur:

The credit quality of financial assetsthat are neither past due nor impaired,past due but not impaired andimpaired can be assessed withreference to external credit ratings (ifavailable) or to historical informationabout counterparty default rates:

2013 2012

Kas pada bank dan Cash in bank anddeposito jangka short-termpendek deposits

AAA 57,469 40,676 AAAAA 37,997 30,692 AAA 7,200 6,671 A

Jumlah 102,666 78,039 Total

31 Desember/December 2013Mengalami

Belum jatuh Telah jatuh penurunantempo dan tempo nilai (setelah

tidak tetapi tidak dikurangimengalami mengalami provisipenurunan penurunan penurunan

nilai/ Neither nilai/Past due nilai)/Impairedpast due but not (net of provision Jumlah

nor impaired impaired for impairment) /Total

Piutang usaha Trade receivableDengan pihak yang tidak Counterparties

memiliki peringkat kredit without externaleksternal credit rating

Grup 1 14,081 4,230 - 18,311 Group 1Grup 2 19,709 2,200 10 21,919 Group 2

Jumlah 33,790 6,430 10 40,230 Total










31 Desember/December 2012Mengalami

Belum jatuh Telah jatuh penurunantempo dan tempo nilai (setelah

tidak tetapi tidak dikurangimengalami mengalami provisipenurunan penurunan penurunan

nilai/ Neither nilai/Past due nilai)/Impairedpast due but not (net of provision Jumlah

nor impaired impaired for impairment) /Total

Piutang usaha Trade receivableDengan pihak yang tidak Counterparties

memiliki peringkat kredit without externaleksternal credit rating

Grup 1 11,499 2,389 - 13,888 Group 1Grup 2 10,741 8,200 25 18,966 Group 2

Jumlah 22,240 10,589 25 32,854 Total

60pPI125(b) Grup 1 – pelanggan baru/pihak-pihak berelasi (kurang darienam bulan).

Grup 2 – pelanggan yang sudahada/pihak-pihak berelasi (lebihdari enam bulan) tanpa adanyakasus gagal bayar di masaterdahulu.

Group 1 – new customers/relatedparties (less than six months).

Group 2 – existing customers/related parties (more than sixmonths) with no defaults in the past.

Seluruh saldo terutang dari piutangusaha di atas terutama berasal daripelanggan/pihak ketiga/pihakberelasi yang sudah ada lebih dari 12bulan dan tidak memiliki sejarahwanprestasi.

The entire receivable balances fromtrade receivable are mostly derivedfrom customers/third parties/relatedparty which existed for more than 12months and do not have any history ofdefault.

Manajemen yakin akankemampuannya untuk terusmengendalikan danmempertahankan eksposur yangminimal terhadap risiko kreditmengingat Grup memiliki kebijakanyang jelas dalam pemilihanpelanggan, perjanjian yang mengikatsecara hukum untuk transaksipenjualan batubara, jasapenambangan, dan jasa lainnya yangtelah dilakukan, dan secara historismempunyai tingkat yang rendahuntuk piutang usaha yangbermasalah.

Management is confident in its abilityto continue to control and maintainminimal exposure to credit risk, sincethe Group has clear policies on theselection of customers, legally bindingagreements in place for coal salestransactions, mining services andother services rendered, andhistorically low levels of bad debts.










Kebijakan umum Grup untukpenjualan batubara dan pemberianjasa untuk pelanggan yang sudahada dan pelanggan baru adalahsebagai berikut:

The Group’s general policies for coalsales and rendering services to newand existing customers are as follows:

- Memilih pelanggan (padaumumnya adalah perusahaanpembangkit listrik unggulan)dengan kondisi keuangan yangkuat dan reputasi yang baik.

- Menerima pelanggan baru danpenjualan batubara sertapemberian jasa disetujui olehpihak yang berwenang sesuaidengan kebijakan delegasikekuasaan Grup.

- Meminta pembayaran denganmenggunakan letter of credituntuk pelanggan baru.

- Selecting customers (mostly bluechip power plant companies) witha strong financial condition and agood reputation

- Acceptance of new customers andsales of coal and renderingservices are approved by theauthorised personnel according tothe Group’s delegation ofauthority policy.

- Requesting payments by letter ofcredit for new customers.

Pada tanggal 31 Desember 2013,Manajemen berpendapat bahwatidak terjadi konsentrasi risikokredit karena seluruh piutang usahaberasal dari berbagai pihak dengannilai masing-masing tidak melebihi10% dari seluruh nilai piutang danpinjaman.

As at 31 December 2013, Managementis of the opinion that there is noconcentration of credit risk since theentire trade receivables, from manyparties which values less than 10%from the total loans and receivables.

60p42 (c) Risiko likuiditas (c) Liquidity risk

60p36(b)60p42(c)BR-90

Perkiraan atas arus kas dilakukanpada setiap entitas Grup yangberoperasi dan disatukan olehdepartemen keuangan Grup.Selanjutnya departemen keuanganGrup akan mengawasi pergerakanperkiraan kebutuhan likuiditas Grupuntuk memastikan tersedianya kasyang cukup untuk memenuhikebutuhan operasional serta untuksenantiasa memelihara kelonggaranlikuiditas Grup (Catatan 19),sehingga Grup tidak melampauibatas pinjaman atau perjanjian(apabila berlaku) untuk setiapfasilitas pinjaman yang diperoleh.Dalam membuat perkiraan, Grupjuga mempertimbangkan rencanapembiayaan melalui utang,kepatuhan terhadap perjanjianpinjaman, kepatuhan atas targetposisi keuangan internal dan, jikaberlaku, regulasi eksternal ataupersyaratan hukum – misalnya,batasan mata uang.

Cash flow forecasting is performed inthe operating entities of the Groupand aggregated by Group finance.Group finance monitors rollingforecasts of the Group’s liquidityrequirements to ensure it has sufficientcash to meet operational needs whilemaintaining sufficient headroom on itsundrawn committed borrowingfacilities (Note 19) at all times so thatthe Group does not breach borrowinglimits or covenants (where applicable)on any of its borrowing facilities. Suchforecasting takes into consideration theGroup’s debt financing plans, covenantcompliance, compliance with internalbalance sheet ratio targets and, ifapplicable external regulatory or legalrequirements – for example, currencyrestrictions.









60p42 (c) Risiko likuiditas (lanjutan) (c) Liquidity risk (continued)

60p36(b)60p42(c)BR-90

Kelebihan kas dari jumlah yangdibutuhkan untuk mengelola modalkerja yang ada pada entitas operasidialihkan kepada aset-aset investasiyang telah disetujui oleh KomiteMRK. Umumnya setiap entitas didalam Grup akan menginvestasikankelebihan tersebut pada rekeningbank dan deposito bank jangkapendek dengan berdasarkan padapertimbangan Komite MRK ataswaktu jatuh tempo yang sesuai ataulikuiditas yang memadai sehinggadapat memberikan kelonggaranpada likuiditas sebagaimana yangdiramalkan di atas. Pada tanggalpelaporan, Grup memiliki modalkerja positif sebesar AS$66.706(2012: AS$70.394) yang diharapkandapat menghasilkan arus kas masukuntuk mengelola risiko likuiditas.

Surplus cash held by the operatingentities over and above balancesrequired for working capitalmanagement are placed to investmentasset as approved by the Committee.Generally, each Group’s entity investssurplus cash in interest bearing bankaccounts and short-term bank depositswhich have been chosen based on theCommittee consideration onappropriateness of instrument’smaturities or sufficient liquidity toprovide sufficient headroom asdetermined by the above-mentionedforecasts. At the reporting date, theGroup held positive working capital ofUS$66,706 (2012: US$70,394) that areexpected to readily generate cashinflows for managing liquidity risk.

60p42(a)60p42(b)60p37BR-90

Tabel dibawah ini menggambarkanliabilitas keuangan Grup padatanggal pelaporan berdasarkan jatuhtemponya yang relevan berdasarkanperiode sisa hingga tanggal jatuhtempo kontraktual. Jumlah yangdiungkapkan dalam tabel ini adalahnilai arus kas kontraktual yang tidakterdiskonto1):

The table below analyses the Group’sfinancial liabilities at the reporting dateinto relevant maturity groupings basedon the remaining period to thecontractual maturity date. Theamounts disclosed in the tablerepresent the contractual undiscountedcash flows1):

2013Lebih Lebih

dari 3 bulan dari satu tahundan kurang dan kurang

dari 1 tahun/ dari 5 tahun/Kurang dari More than More than Lebih daritiga bulan/ three months one year but lima tahun/Less than but not later not later than More than Jumlah/

three months2) than one year2) five years2) five years2) TotalLiabilitas keuangan/Financial liabilitiesUtang usaha/Trade

payables 34,507 - - - 34,507Beban akrual/Accrued

expenses 6,537 - - - 6,537Utang sewa pembiayaan/

Finance lease payables 1,219 2,807 8,918 6,062 19,006Utang bank/Bank loans 9,871 31,237 48,950 90,058Obligasi konversi/

Convertible bonds 2,520 2,520 99,599 - 104,639Utang nonusaha pihak

berelasi/Non-traderelated party payables - - 10,535 - 10,535

Jumlah liabilitas keuangan/Total financial liabilities 54,654 36,564 168,002 6,062 265,282









60p42 (c) Risiko likuiditas (lanjutan) (c) Liquidity risk (continued)

2012Lebih Lebih

dari 3 bulan dari satu tahundan kurang dan kurang

dari 1 tahun/ dari 5 tahun/Kurang dari More than More than Lebih daritiga bulan/ three months one year and lima tahun/Less than and not later not later than More than Jumlah/

three months2) than one year2) five years2) five years2) TotalLiabilitas keuangan/Financial liabilitiesUtang usaha/Trade

payables 14,314 - - - 14,314Beban akrual/Accrued

expenses 7,848 - - - 7,848Utang sewa pembiayaan/

Finance lease payables 524 1,456 4,873 3,379 10,232Utang bank/Bank loans 5,885 18,308 41,975 - 66,168Obligasi konversi/

Convertible bonds 2,519 2,519 104,493 - 109,531Utang nonusaha pihak

berelasi/Non-traderelated party payables - - 14,488 - 14,488

Jumlah liabilitas keuangan/Total financial liabilities 31,090 22,283 165,829 3,379 222,581

1) Jumlah yang disertakan pada tabel untuk utang bank dan obligasi konversimerupakan arus kas kontraktual yang tidak didiskontokan, termasukpembayaran bunga dan pokok pinjaman. Akibatnya, jumlah tersebut tidak akansesuai dengan jumlah yang disajikan pada laporan posisi keuangan. Jika mau,entitas dapat menambah kolom rekonsiliasi dan jumlah akhir yang sesuai denganyang disajikan di laporan posisi keuangan.

1) The amounts included in the table for bank loans and convertible bonds are thecontractual undiscounted cash flows, including interest and principal payment. As aresult these amounts will not reconcile to the amounts disclosed on the statement offinancial position. Entities can choose to add a reconciling column and a final totalthat ties into the statement of financial position if they wish.

2) Pengelompokan berdasarkan periode waktu tertentu tidak diwajibkan olehstandar namun berdasarkan hal-hal apa saja yang dilaporkan secara internalkepada personil manajemen kunci. Entitas harus menyajikan pengelompokanwaktu yang memadai untuk dapat memberikan informasi yang cukup rinci yangdapat membantu pemahaman pembaca laporan keuangan atas likuiditasperusahaan.

2) The specific time buckets presented are not mandated by the standard but are basedon what is reported internally to key management personnel. Time buckets shouldbe given with sufficient regularity to provide the reader with an understanding ofthe entity’s liquidity.

1p133-135BR-90

(2) Manajemen permodalan (2) Capital management

Dalam mengelola permodalannya, Grupsenantiasa mempertahankankelangsungan usaha sertamemaksimalkan manfaat bagi pemegangsaham dan pemangku kepentinganlainnya.

In managing capital, the Group safeguardsits ability to continue as a going concernand to maximise benefits to theshareholders and other stakeholders.

Grup secara aktif dan rutin menelaah danmengelola permodalannya untukmemastikan struktur modal danpengembalian yang optimal bagipemegang saham, denganmempertimbangkan efisiensi penggunaanmodal berdasarkan arus kas operasi danbelanja modal, serta mempertimbangkankebutuhan modal di masa yang akandatang.

The Group actively and regularly reviewsand manages its capital to ensure theoptimal capital structure and return to theshareholders, taking into consideration theefficiency of capital use based on operatingcash flow and capital expenditure and alsoconsideration of future capital needs.

Grup juga berusaha mempertahankankeseimbangan antara tingkat pinjamandan posisi ekuitas untuk memastikanstruktur modal dan pengembalian yangoptimal. Tidak ada perubahan padapendekatan Grup dalam mengelolapermodalannya selama tahun berjalan.

The Group also seeks to maintain a balancebetween its level of borrowing and equityposition in order to ensure the optimalcapital structure and return. There were nochanges in the Group’s approach to capitalmanagement during the year.








1p133-135BR-90

(2) Manajemen permodalan (lanjutan) (2) Capital management (continued)

Konsisten dengan entitas lain dalamindustri sejenis, Grup memonitor modaldengan menggunakan dasar rasiogearing. Rasio ini dihitung denganmembagi jumlah utang bersih denganjumlah modal. Utang bersih dihitungdari total pinjaman (termasuk pinjamanjangka pendek, pinjaman jangkapanjang, dan utang sewa pembiayaanseperti yang disajikan pada laporanposisi keuangan konsolidasian)dikurangi kas dan setara kas. Jumlahmodal dihitung dari ekuitas seperti yangada pada laporan posisi keuangankonsolidasian ditambah utang bersih.

Consistently with other entities in theindustry, the Group monitors the capital onthe basis of the gearing ratio. This ratio iscalculated as net debt divided by totalcapital. Net debt is calculated as totalborrowings (including currentborrowings, non-current borrowings, andfinance lease payables as shown in theconsolidated statement of financialposition) less cash and cash equivalents.Total capital is calculated as ‘equity’ asshown in the consolidated statement offinancial position plus net debt.

BR-90 Selama tahun 2013, Grup tidakmelakukan perubahan strategi dari tahun2012 untuk menjaga rasio gearingnyayang berkisar antara 20% - 35%. Padatanggal 31 Desember 2013 dan 2012, rasiogearing adalah sebagai berikut:

During 2013, the Group’s strategy, whichwas unchaged from 2012, was to maintainthe gearing ratio within the range of 20%-35%. As at 31 December 2013 and 2012, Thegearing ratios at 31 December 2013 and2012 were as follow:

BR-90 2013 2012

Jumlah pinjaman (Catatan 19) 193,033 162,391 Total borrowings (Note 19)Dikurangi: kas dan setara kas

(Catatan 5) (105,837) (81,480) Less: cash and cash equivalents (Note 5)

Utang neto 87,196 80,911 Net debtJumlah ekuitas 314,986 184,247 Total equity

Jumlah modal 402,182 265,158 Total capital

Rasio gearing 21.6% 30.5% Gearing ratio

60p28BR-88

(3) Estimasi nilai wajar (3) Fair value estimation

Nilai wajar aset dan liabillitas keuangandiestimasi untuk keperluan pengakuandan pengukuran atau untuk keperluanpengungkapan.

The fair value of financial assets andfinancial liabilities must be estimated forrecognition and measurement or fordisclosure purposes.

60p29 Tabel di bawah ini menganalisis intrumenkeuangan yang dicatat pada nilai wajarberdasarkan tingkatan metode penilaian.Perbedaan pada setiap tingkatan metodepenilaian dijelaskan sebagai berikut:

Harga dikutip (tidak disesuaikan) daripasar yang aktif untuk aset atauliabilitas yang identik (Tingkat 1)

The table below analyses financialinstruments carried at fair value, by levelof valuation method. The different levels ofvaluation methods have been defined asfollows:

Quoted prices (unadjusted) in activemarkets for identical assets orliabilities (Level 1)








60p28BR-88

(3) Estimasi nilai wajar (lanjutan) (3) Fair value estimation (continued)

60p2660p30

Input selain harga yang dikutip daripasar yang disertakan pada Tingkat 1yang dapat diobservasi untuk aset danliabilitas, baik secara langsung (yaitusebagai sebuah harga) atau secaratidak langsung (yaitu sebagai turunandari harga) (Tingkat 2)

Input untuk aset atau liabilitas yangtidak didasarkan pada data pasaryang dapat diobservasi (informasiyang tidak dapat diobservasi)(Tingkat 3).

Tabel berikut menyajikan aset danliabilitas Grup yang diukur sebesar nilaiwajar pada 31 Desember 2013 dan 2012.

Inputs other than quoted pricesincluded within Level 1 that areobservable for the asset or liability,either directly (that is, as prices) orindirectly (that is, derived fromprices) (Level 2)

Inputs for the asset or liability thatare not based on observable marketdata (that is, unobservable inputs)(Level 3).

The following table presents the Group’sassets and liabilities that are measured atfair value at 31 December 2013 and 2012.

31 Desember/December 2013Tingkat 1/ Tingkat 2/ Tingkat 3/ Jumlah/

Level 1 Level 2 Level 3 TotalAset AssetsAset keuangan tersedia Available-for-sale

untuk dijual financial assets- Investasi pada efek

ekuitas 2,000 - - 2,000 Equity investments -

Jumlah aset 2,000 - - 2,000 Total assets

31 Desember/December 2012Tingkat 1/ Tingkat 2/ Tingkat 3/ Jumlah/

Level 1 Level 2 Level 3 TotalAset AssetsAset keuangan tersedia Available-for-sale

untuk dijual financial assets- Investasi pada efek

ekuitas 380 - - 380 Equity investments -

Jumlah aset 380 - - 380 Total assets

60p29 Nilai wajar instrumen keuangan yangdiperdagangkan dalam pasar aktifditentukan berdasarkan harga pasaryang dikutip pada tanggal pelaporan.Suatu pasar dianggap aktif apabilainformasi mengenai harga kuotasi dapatdengan mudah dan secara berkalatersedia dari suatu bursa, pedagangefek, atau broker, kelompok penilaiharga pasar industri tertentu, regulatordan harga-harga tersebutmencerminkan transaksi pasar yangaktual dan reguler pada tingkat yangwajar. Harga pasar yang dikutip untukaset keuangan yang dimiliki Grupadalah harga penawaran sekarang.Instrumen-instrumen tersebuttermasuk dalam Tingkat 1. Instrumenyang termasuk dalam Tingkat 1 meliputiinvestasi ekuitas pada Bursa SahamPower World City yang diklasifikasikansebagai tersedia untuk dijual.

The fair value of financial instrumentstraded in active markets is based on quotedmarket prices at the reporting date. Amarket is regarded as active if quoted pricesare readily and regularly available from anexchange, dealer, or broker, industry grouppricing service, or regulatory agency, andthose prices represent actual and regularlyoccurring market transaction on an arm’slengths basis. The quoted market price usedfor financial assets held by the Group is thecurrent bid price. These instruments areincluded in Level 1. Instruments included inLevel 1 comprise Power World City StockExchange equity investments classified asavailable-for-sale.








60p28BR-88

(3) Estimasi nilai wajar (lanjutan) (3) Fair value estimation (continued)

Nilai wajar dari liabilitas yang akandiselesaikan lebih dari 12 bulan (liabilitasjangka panjang) adalah sebagai berikut:

The fair values of financial liabilities thatwill be settled beyond 12 months (non-current liabilities) are as follows:

Jumlah tercatat/ Nilai wajar/Carrying amount Fair value

2013 2012 2013 2012

Utang sewa pembiayaan 14,406 7,553 15,198 8,479 Finance lease payablesUtang bank 83,500 59,750 83,233 65,209 Bank loansObligasi konversi 95,127 95,088 96,026 96,823 Convertible bonds

193,033 162,391 194,457 170,511

60p2660p28BR-88

Nilai wajar pinjaman jangka pendek samadengan jumlah tercatatnya karena dampakpendiskontoan tidak signifikan. Nilaiwajar pinjaman jangka panjang dihitungdari arus kas didiskonto denganmenggunakan suku bunga pinjaman 6,5%(2012: 6,0%).

The fair value of current borrowingsequals their carrying amount, as theimpact of discounting is not significant.The fair values of non-current borrowingsare based on cash flows discounted usingthe borrowing rate of 6.5% (2012: 6.0%).

Nilai tercatat dari aset dan liabilitaskeuangan lainnya mendekati nilaiwajarnya karena sifat jangka pendek dariinstrumen keuangan.

The carrying amount of other financialassets and liabilities approximates theirfair values because of the short-termnature of the financial instruments.

Guidance notes – Financial risk management

The disclosures related to an entity’s financial risk management should reflect the information providedinternally to key management personnel. As such, the disclosures that will be provided by an entity, theirlevel of detail and the underlying assumptions used will vary greatly from entity to entity. The disclosures inthese illustrative financial statements are only one example of the kind of information that may be disclosed,and the entity should consider carefully what may be appropriate in its individual circumstances.

41.OTORISASI LAPORAN KEUANGAN 41. AUTHORISATION OF FINANCIALSTATEMENTS

Laporan keuangan ini diotorisasi untukditerbitkan sesuai dengan resolusi Direksi PTMining Indonesia Tbk tanggal 31 Januari 2014.

These financial statements were authorised forissue in accordance with a resolution of theBoard of Directors of PT Mining Indonesia Tbkon 31 January 2014.

Lampiran 1 – Implementasi atas ISAK 29Biaya Pengupasan Lapisan Tanah TahapProduksi pada Pertambangan Terbuka

Appendix 1 – Implementation ofISFAS 29 Stripping Costs in the


Guidance notes – Implementation of ISFAS 29 Stripping Costs in the Production Phase of a Surface Mine

ISFAS 29 Stripping Costs in the Production Phase of a Surface Mine (“ISFAS 29”) is effective for annual reportingperiods commencing on or after 1 January 2014. This interpretation has not been early-adopted in the illustrative 2013financial statements of PT Mining Indonesia Tbk

In order to assist entities with the information they may wish to consider in the disclosures to the financial statementswhen they elect to early adopt ISFAS 29, we have included the following illustrative disclosures.

ISFAS 29 does not have specific disclosure requirements. On the other hand, the requirement to disclose the earlyadoption of ISFAS 29 is provisionally made by other standards, as follows: SFAS 1 Presentation of Financial Statements, regarding significant accounting policies and significant judgements

and estimates. SFAS 25 Accounting Policies, Changes in Accounting Estimates and Errors regarding impacts of changes to

accounting policies.

This interpretation requires a number of judgements, including: Determining what to include in stripping costs Identification of components of the ore body for which access is improved Selection of the allocation method used to allocate stripping costs between costs of production and any stripping

activity assets The depreciation approach to be applied to any stripping activity assets recognised The adjustments made on transition to ISFAS 29 in relation to any opening deferred stripping cost balances

Not all mining companies will reach the same conclusions as PT Mining Indonesia Tbk Each entity must analyse andinterpret the requirements of ISFAS 29, develop their accounting policy and then assess the impact on their mine plans.

Appropriate disclosures will then be required to clearly explain how ISFAS 29 has been interpreted and applied inaccounting for waste removal costs incurred during the production phase of a surface mine and what impact it has had,and will have, on the entity and its operations.

The illustrative disclosures provided below should be inserted into the relevant sections of the financial statements.

Guidance notes:When the entity change its accounting policy to adopt this new ISFAS 29 requirement, disclosure of changes in accountingpolicies should be presented, and the accounting policy disclosures regarding the deferred stripping cost should follow thecriteria recognition under this interpretation, as follows:




BR-451p116

IKHTISAR KEBIJAKAN AKUNTANSIYANG PENTING

SUMMARY OF SIGNIFICANTACCOUNTING POLICIES

Perubahan kebijakan akuntansi danpengungkapan

ISAK 29 Biaya Pengupasan LapisanTanah Tahap Produksi padaPertambangan Terbuka

ISAK 29 berlaku efektif untuk periode laporankeuangan tahun buku yang dimulai pada atausetelah 1 Januari 2014, namun, penerapan dinidiperkenankan. Sebelum penerbitan ISAK 29,pencatatan atas biaya pengupasan lapisantanah yang timbul selama tahap produksidilakukan menggunakan pendekatan “rata-rataumur tambang” yang diterapkan sesuai denganPSAK 33 (Revisi 2011), “Aktivitas PengupasanLapisan Tanah dan Pengelolaan LingkunganHidup pada Pertambangan Umum”. Grup telahmemutuskan untuk melakukan penerapan diniatas ISAK 29 pada laporan keuangankonsolidasian yang dimulai pada atau setelah 1Januari 2013.

Changes in accounting policies anddisclosures

ISFAS 29 Stripping Costs in theProduction Phase of a Surface Mine

ISFAS 29 is effective for financial reporting yearbeginning on or after 1 January 2014, however,early adoption is permitted. Prior to theissuance of ISFAS 29, the accounting forproduction stripping costs have been using “life-of-mine average” approach promulgated underSFAS 33 (Revised 2011), “Stripping Activitiesand Environmental Management in GeneralMining”. The Group has decided to early-adoptISFAS 29 for their consolidated financialstatements beginning on or after 1 January2013.

Sebelumnya, biaya pengupasan lapisan tanahpada periode berjalan biasanya dicatat sebagaibiaya produksi berdasarkan rasio umur rata-rata tambang. Dalam keadaan dimana nisbahkupas aktual tidak berbeda jauh dengan rasioumur tambang, biaya pengupasan lapisantanah yang terjadi selama tahun tersebut diakuisebagai biaya produksi. Dalam hal nisbahkupas aktual jauh lebih besar dari rasio umurtambang, kelebihan biaya pengupasan dicatatdalam laporan posisi keuangan konsolidasiansebagai biaya pengupasan lapisan tanah yangditangguhkan. Biaya pengupasan lapisan tanahyang ditangguhkan akan dibebankan sebagaibiaya produksi pada periode dimana nisbahkupas aktual jauh lebih kecil dari rasio rata-rataumur tambang.

Previously, the ongoing stripping costs arenormally recognised as production costs basedon the average life-of-mine ratio. In situationswhere the actual stripping ratio is notsignificantly different from the life-of-mineratio, the stripping costs incurred during theyear are recognised as production costs. Whenthe actual stripping ratio is significantly higherthan the life-of-mine ratio, the excess strippingcosts are recorded in the consolidated statementof financial position as deferred stripping costs.These deferred costs are expensed as productioncosts in periods where the actual ratio issignificantly lower than the average life of mineratio.

Interpretasi ini mengharuskan perusahaanuntuk mengakui aset aktivitas pengupasanlapisan tanah, jika dan hanya jika, seluruhkriteria berikut terpenuhi:1. Besar kemungkinan bahwa manfaat

ekonomik masa depan (peningkatan aksesmenuju badan bijih (ore body)) yangterkait dengan aktivitas pengupasanlapisan tanah akan mengalir kepadaentitas;

2. Entitas dapat mengidentifikasi komponenbadan bijih yang aksesnya telahditingkatkan; dan

3. Biaya yang terkait dengan aktivitaspengupasan lapisan tanah dengankomponen tersebut dapat diukur secaraandal.

The interpretation requires the entities torecognise a stripping activity asset if, and onlyif, all of the following are met:

1. It is probable that the future economicbenefit (improved access to the ore body)associated with the stripping activity willflow to the entity;

2. The entity can identify the component of theore body for which access has beenimproved; and

3. The costs relating to the stripping activityassociated with that component can bemeasured reliably.




BR-451p116



Perubahan kebijakan akuntansi danpengungkapan (lanjutan)

ISAK 29 Biaya Pengupasan LapisanTanah Tahap Produksi padaPertambangan Terbuka (lanjutan)


ISFAS 29 Stripping Costs in theProduction Phase of a Surface Mine(continued)

Terdapat dua perubahan utama atas kebijakanakuntansi Grup sebelumnya sebagai hasil daripenerapan ISAK 29. Pertama, pengakuan awalaset pengupasan lapisan tanah dan penyusutansetelahnya ditentukan oleh referensi darikomponen badan bijih yang dapat diidentifikasidan bukan dari keseluruhan daerah operasitambang. Kedua, pengukuran selanjutnya dariaset disusutkan menggunakan basis unitproduksi, dan bukan dibebankan ke laba rugiketika rasio aktual nisbah kupas lebih kecilsecara signifikan dari ekpektasi rasio rata-rataumur tambang.

There are two key changes in the Group’sprevious accounting policy as a result of theadoption of ISFAS 29. Firstly, the initialrecognition of the stripping asset andsubsequent depreciation is determined withreference to components of the ore body ratherthan with reference to the entire operation.Secondly, the subsequent measurement of theasset is recognised as depreciation on a unit ofproduction basis, rather than as a charge toprofit or loss when the actual stripping ratio issignificantly lower than the average life-of-mineratio.

Grup telah menerapkan ISAK 29 secararetrospektif sesuai dengan ketentuan transisidan laporan keuangan konsolidasian untuktahun 2012 telah disajikan kembali. Setelahmenerapkan ISAK 29, aset pengupasan lapisantanah di laporan posisi keuangan konsolidasianpada tanggal 1 Januari 2012 telah dianalisa danditentukan bahwa sebagian dari aset tersebuttidak terkait dengan komponen badan bijihteridentifikasi. Bagian dari aset ini telahdihentikan pengakuannya dan dicatat ke saldolaba 1 Januari 2012.

The Group has applied ISFAS 29 retrospectivelyin accordance with the transitional provisionsand the 2012 consolidated financial statementshave been restated accordingly. Upon adoptionof ISFAS 29, the stripping assets on theconsolidated statement of financial position at 1January 2012 were assessed and it wasdetermined that elements of the assets did notrelate to identifiable components of the orebody. These elements of the assets have beenderecognised and recorded against retainedearnings as at 1 January 2012.




Laporan keuangan konsolidasian Grup padatanggal 1 Januari 2012 yang telah disesuaikanadalah sebagai berikut:

The Group’s consolidated financial statements as at 1January 2012 have been adjusted as follows:

Jumlah tercatat Jumlah setelahsebelumnya/ penyesuaian/Previously Penyesuaian/ Balance after

reported Adjustment adjustment

Laporan posisi Consolidatedkeuangan statement ofkonsolidasian financial position

NON-CURRENTASET TIDAK LANCAR ASSETSAset pajak tangguhan 262 2,473a) 2,735 Deferred tax assetsBiaya pengupasan

lapisan tanahyang ditangguhkan 9,893 (9,893)a) -Deferred stripping costs

EKUITAS EQUITYSaldo laba – belum Unappropriated

dicadangkan 58,274 (7,420)a) 50,854 retained earnings

Laporan keuangan konsolidasian pada tanggaldan untuk tahun yang berakhir pada tanggal 31Desember 2012 yang telah disesuaikan adalahsebagai berikut:

Consolidated Financial statements as at and forthe year ended 31 December 2012 which havebeen adjusted are presented as follows:



Laporan posisi Consolidatedkeuangan statement ofkonsolidasian financial position

ASET LANCAR CURRENT ASSETSPersediaan 11,696 77d) 11,773 Inventory

NON-CURRENTASET TIDAK LANCAR ASSETSAset pajak tangguhan 603 2,931 3,534 Deferred tax assetsBiaya pengupasan

lapisan tanahyang ditangguhkan 13,400 (13,400)b) - Deferred stripping cost

Properti pertambangan 28,873 1,600c) 30,473 Mining properties

EKUITAS EQUITYSaldo laba – belum Unappropriated

dicadangkan 104,245 (8,792) 95,453 retained earnings

Guidance notes:Presented below are the implication of the early application this interpretation






ConsolidatedLaporan laba rugi statement of

komprehensif comprehensivekonsolidasian income

Beban pokok pendapatan 154,830 (1,830)d) 153,000 Cost of revenue

Laba sebelum pajak Profit before incomepenghasilan 98,632 (1,830) 96,802 tax

Beban pajak penghasilan 48,996 (458) 48,538 Income tax expense

Laba tahun berjalan 73,073 (1,372) 71,701 Profit for the year

a) Under the transitional provisions of ISFAS 29, the balances of deferred stripping costs at 1 January 2012 wereassessed and it was determine that the balance did not relate to the identifiable component of ore bodies. As such,the balance of stripping assets have been derecognised and recorded against opening retained earnings at 1 January2012 (US$7,420 net after tax impact).

b) The adjustment of US$13,400 represents the following (1) derecognition of the opening balance of stripping assetat 1 January 2012 (see point (a) above) amounted to US$9,893; plus (2) derecognition of US$4,400 addition ofcurrent period addition in stripping asset previously recognised under previous accounting policy; less (3) reversalof US$893 amortisation expenses recognised under previous accounting policy.

c) Represents current year addition in stripping activity asset, net off current year amortisation, based on ISFAS 29.

d) Adjustments to reflect impact of current period stripping cost to inventory balance and cost of revenue.

Guidance notes:The adoption of ISFAS 29 will have a deferred tax implication, depending on the tax position made by entities onpreviously reported corporate income tax and the current year tax based assets.

In practice, however, there are complexities to the tax treatment of this application. Consequently, we recommendreporting entities to consult with their PwC contact members to discuss this matters further.

Furthermore, reporting entities should also consult with their PwC contact member to discuss the implications of early-adopting this interpretation on the interim and annual financial statements.




BR-451p116



Biaya pengupasan lapisan tanah Stripping costs

Biaya pengupasan lapisan tanah adalah biayaatas aktivitas memindahan material sisatambang. Biaya pengupasan lapisan tanah yangtimbul pada tahap pengembangan tambangsebelum dimulainya tahap produksidikapitalisasi sebagai bagian dari biayapemgembangan tambang, dan setelahpengakuan awal akan disusutkan ataudiamortisasi menggunakan metode unitproduksi berdasarkan estimasi cadanganterbukti dan terduga, begitu produksi dimulai.

Stripping costs are the costs of removingoverburden from a mine. Stripping costsincurred in the development of a mine beforeproduction commences are capitalised as part ofthe cost of developing the mine, and aresubsequently depreciated or amortised using aunit-of-production method on the basis ofproved and probable reserves, once productionbegins.

Aktivitas pengupasan lapisan tanah yang terjadiselama tahap produksi mungkin memiliki duamanfaat untuk kepentingan perusahaan: (i)bijih yang dapat diproses untuk menjadipersediaan dalam periode berjalan dan (ii)meningkatkan akses ke badan bijih di periodeberikutnya. Sepanjang manfaat dari aktivitaspengupasan lapisan tanah dapat direalisasikandalam bentuk persediaan yang diproduksidalam periode tersebut, Grup mencatat biayaatas aktivitas pengupasan lapisan tanah sesuaidengan prinsip PSAK 14, “Persediaan”.Sepanjang biaya pengupasan lapisan tanahtahap produksi yang timbul dengan manfaatpeningkatan akses menuju bijih di periode yangakan datang, Grup mencatat biaya tersebutsebagai aset aktivitas pengupasan lapisan tanah,jika dan hanya jika, memenuhi kriteria berikut:

1. Besar kemungkinan bahwa manfaatekonomik masa depan (peningkatan aksesmenuju badan bijih (ore body)) yang terkaitdengan aktivitas pengupasan lapisan tanahakan mengalir kepada entitas;

2. Entitas dapat mengidentifikasi komponenbadan bijih yang aksesnya telahditingkatkan; dan

3. Biaya yang terkait dengan aktivitaspengupasan lapisan tanah dengankomponen tersebut dapat diukur secaraandal.

Stripping activity conducted during theproduction phase may provide two benefitsaccruing to the entity: (i) ore that is processedinto inventory in the current period and (ii)improved access to the ore body in futureperiods. To the extent that benefit from thestripping activity is realised in the form ofinventory produced, the Group accounts for thecosts of that stripping activity in accordancewith the principles of SFAS 14, “Inventories”. Tothe extent the benefit is improved access to ore,the Group recognises these costs as a strippingactivity asset, if, and only if, all of the followingcriteria are met:

1. It is probable that the future economicbenefit (improved access to the ore body)associated with the stripping activity willflow to the entity;

2. The entity can identify the component of theore body for which access has beenimproved; and

3. The costs relating to the stripping activityassociated with that component can bemeasured reliably.

Aset aktivitas pengupasan lapisan tanah padaawalnya diukur pada biaya perolehan, biaya inimerupakan akumulasi dari biaya-biaya yangsecara langsung terjadi untuk melakukanaktivitas pengupasan lapisan tanah yangmeningkatkan akses terhadap komponen badanbijih teridentifikasi, ditambah alokasi biayaoverhead yang diatribusikan secara langsung.Jika aktivitas insidentil terjadi pada saat yangbersamaan dengan pengupasan lapisan tanahtahap produksi, namun aktivitas insidentiltersebut tidak harus ada untuk melanjutkanaktivitas pengupasan lapisan tanahsebagaimana direncanakan, biaya yang terkaitdengan aktivitas insidentil tersebut tidak dapatdimasukkan sebagai biaya perolehan asetaktivitas pengupasan lapisan tanah.

The stripping activity asset is initially measuredat cost, which is the accumulation of costsdirectly incurred to perform the strippingactivity that improves access to the identifiedcomponent of ore body, plus an allocation ofdirectly attributable overhead costs. If incidentaloperations are occurring at the same time as theproduction stripping activity, but are notnecessary for the production stripping activity tocontinue as planned, the costs associated withthese incidental operations are not included inthe cost of the stripping activity asset.




BR-451p116



Biaya pengupasan lapisan tanah (lanjutan) Stripping costs (continued)

Ketika biaya perolehan aset aktivitaspengupasan lapisan tanah dan persediaan yangdiproduksi tidak dapat diidentifikasi secaraterpisah, Grup mengalokasikan biayapengupasan lapisan tanah dalam tahapproduksi antara persediaan yang diproduksidan aset aktivitas pengupasan lapisan tanahmenggunakan dasar alokasi berdasarkanukuran produksi yang relevan. Ukuranproduksi tersebut dihitung untuk komponenbadan bijih teridentifikasi, dan digunakansebagai patokan untuk mengidentifikasi sejauhmana aktivitas tambahan yang menciptakanmanfaat di masa depan telah terjadi. Grupmenggunakan ekpektasi volume sisa yangdiekstrak dibandingkan dengan volume aktualuntuk setiap volume produksi batubara.

When the costs of the stripping activity asset andthe inventory produced are not separatelyidentifiable, the Group allocates the productionstripping costs between the inventory producedand the stripping activity asset by using anallocation basis that is based on a relevantproduction measure. This production measure iscalculated for the identified component of the orebody, and is used as a benchmark to identify theextent to which the additional activity ofcreating a future benefit has taken place. TheGroup uses the expected volume of wasteextracted compared with expected volume, for agiven volume of ore production.

Setelah pengakuan awal, aset aktivitaspengupasan lapisan tanah dicatatmenggunakan biaya perolehan dikurangidengan penyusutan atau amortisasi dan rugipenurunan nilai, jika ada. Aset aktivitaspengupasan lapisan tanah disusutkan ataudiamortisasi menggunakan metode unitproduksi selama masa manfaat dari komponenbadan bijih yang teridentifikasi yang menjadilebih mudah diakses sebagai akibat dariaktivitas lapisan pengupasan tanah, kecualiterdapat metode lain yang lebih tepat.

Subsequently, the stripping activity asset iscarried at cost less depreciation or amortisationand any impairment losses, if any. Thestripping activity asset is depreciated oramortised using the units of production methodover the expected useful life of the identifiedcomponent of the ore body that becomes moreaccessible as a result of the stripping activityunless another method is more appropriate.

Taksiran masa manfaat dari komponen badanbijih yang teridentifikasi yang menjadi lebihmudah diakses sebagai akibat dari aktivitaslapisan pengupasan tanah yang terdiri daricadangan terbukti dan terduga dapat berubah.Perubahan atas tingkat cadangan terbukti danterduga atas komponen badan bijih yangteridentifikasi dinyatakan sebagai perubahanatas estimasi dan dicatat menggunakan basisprospektif.

The expected useful life of the identifiedcomponent of the ore body that becomes moreaccessible as a result of the stripping activitywhich comprise of proved and probable reservesspecific to that identified component of the orebody may change. Changes in the proved andprobable reserves specific to the identifiedcomponent of the ore body are considered aschanges in estimates and are accounted for on aprospective basis.

Aset aktivitas pengupasan lapisan tanah dicatatsebagai penambahan atau peningkatan dariaset yang ada, sehingga disajikan sebagai“Properti Pertambangan” pada laporan posisikeuangan konsolidasian.

The stripping activity asset is accounted for asan addition to, or an enhancement of, an existingasset, therefore it has been presented as part of"Mining properties" in the statement ofconsolidated financial position.

Aset aktivitas pengupasan lapisan tanahdimasukan kedalam basis biaya perolehan atasaset saat penentuan unit penghasil kas dalamtujuan pengujian penurunan nilai.

Stripping activity asset is included in the costbase of assets when determining a cashgenerating unit for impairment assessmentpurposes.

Contacts

Sacha [email protected]: +62 21 528 90968

Yanto [email protected]: +62 21 528 91053

Fandy [email protected]: +62 21 528 90749

Firman [email protected]: +62 21 528 90785

Aditya [email protected]: +62 21 528 90306

Dwi [email protected]: +62 21 528 91050

Anthony [email protected]: +62 21 528 90687

Daniel [email protected]: +62 21 528 90962

Yudhanto [email protected]: +62 21 528 91059

Andrew [email protected]: +62 21 528 91243

Yusron [email protected]: +62 21 528 91072

Gabriel [email protected]: +62 21 528 90857

Christina [email protected]: +62 21 528 75433

Toto [email protected]: +62 21 528 91205

David [email protected]: +62 21 528 90588

Dedy [email protected]: +62 21 528 91337

Malvino [email protected]: +62 21 528 90485

Giri [email protected]: +62 21 528 91413

Mian [email protected]: +62 21 528 71282

Dodi [email protected]: +62 21 528 90347

Andi [email protected]: +62 21 528 71020

Hidayat [email protected]: +62 21 528 90327

Mochammad [email protected]: +62 21 528 71926

Heryanto [email protected]: +62 21 528 91030

Chris [email protected]: +62 21 528 75366

Lisa [email protected]: +62 21 528 75482

Oktariza [email protected]: +62 21 528 90374

Acknowledgements

We would like to convey our sincere thanks to all of the contributors for their efforts in supporting the preparation of thispublication.

Project team:

Yanto Kamarudin

Fandy Adhitya

Andrew Bernadus

Heryanto Wong

Herwin Susanto

Irwansyah Dirgantoro

Ariz Maulana

Mark Kristomo

Fenny Fenny

Monica Setiawan

Wendy William

Other PwC Indonesia Publications

More insights

Visit www.pwc.com/id to download or order hard copies of reports1. PT Indonesia Tbk and

subsidiaries - Illustrative consolidated financial statements

2. PSAK Pocket Guide 20133. mineIndonesia - survey of

trends in the Indonesian mining sector

4. Mining in Indonesia - Investment and Taxation Guide

3

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4

www.pwc.com/id

This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

PwC Indonesia is comprised of KAP Tanudiredja, Wibisana & Rekan, PT PricewaterhouseCoopers Indonesia Advisory and PT Prima Wahana Caraka, each of which is a separate legal entity and all of which together constitute the Indonesian member firm of the PwC global network, which is collectively referred to as PwC Indonesia.

© 2014 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see http://www.pwc.com/structure for further details.

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