PT Golden Energy Mines Tbk Reports Earnings Results for the First Quarter Ended March 31, 2023

PT Golden Energy Mines Tbk is an Indonesia-based company, which is engaged in the business of trading sector of mining products and mining services. It is engaged in coal mining through its subsidiaries and in coal trading activities. Its subsidiaries include PT Kuansing Inti Makmur-Blok (KIM Block), PT Barasentosa Lestari (BSL), PT Wahana Rimba Lestari dan PT Berkat Satria Abadi (ESM), PT Trisula Kencana Sakti (TKS) and PT Borneo Indobara (BIB). It has coal mining business permits in Jambi (through KIM Block), South Sumatera (through BSL and EMS Group), West Sumatera (through EMS Group), South Kalimantan (through BIB), and Central Kalimantan (through TKS). Its total mining areas is approximately 66,204 hectares with potential resource of 2.92 billion tons and total reserves of 0.99 billion tons. The Company conducts its coal trading business through its subsidiaries, RCI and GEMSTR, by sharing the types of coal produced by other Subsidiaries, KIM Block, BSL, EMS Group, BIB and TKS.