AKRA Coal Mining ready for Production

FOR IMMEDIATE RELEASE

AKRA Coal Mining ready for Production

JAKARTA, May 3, 2011 - PT AKR Corporindo, Tbk. (Bloomberg: AKRA IJ), Indonesia’s leading bulk logistics and infrastructure company and largest private sector distributor of petroleum and basic chemicals, announced that the Company’s coal concessions in Barito Utara, Central Kalimantan are ready for production with the receipt of required approvals from the Governmental authorities and appointment of contractors.  

AKRA’s subsidiary PT Bumi Karunia Pertiwi, holder of the mining concession has formally secured Ijin Pinjam Pakai (Borrow and Use License) from Ministry of Forestry, Republic of Indonesia dated April 29, 2011, Operation and Production IUP – (Operation and Production Mining License) and other permits to operate Coal Port terminal. 

The Company also announced that it has appointed PT Karunia Bumi Khatulistiwa, an experienced coal mining contractor, to conduct the mining activities who have commenced preparation and mobilization to start coal mining activities. In order to facilitate coal movement,   it has also secured hauling road and other supporting facilities.

With the receipt of the necessary licenses, the Company expects to commence mining activities in the coming weeks.