DAFTAR PUSTAKA. 1. Imam Budi Rahardjo, Mengenal Batubara, Berita Iptek, 2006, Jakarta

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DAFTAR PUSTAKA

1. Imam Budi Rahardjo, Mengenal Batubara, Berita Iptek, 2006, Jakarta

2. Faridz Tirasonjaya, Ilmu Batubara, 2006.

3. Gentry, D.W, O’neill, T.J, Mine Investment Analysis, American Institute of

Mining Metallurgical, Newyork, 1984.

4. Leo Harry Sugianto, Andi Baso Sulfa, Teknik Dasar Pemilihan Alat – Alat

Besar, hal.17 – 109, PT. United Tractors, Jakarta.

5. Partanto Prodjosumarto, Pemindahan Tanah Mekanis, bab IV dan bab V,

Jurusan Teknik Pertambangan ITB, 1984.

6. Stermole, Frankin, J & Stermole, John, M, Economic Evaluation &

Investment Decision Method, 6

th

Edition, Investment Evaluation, Corporation,

1987.

7. Syahrizal Hartaji, “Strategi Investasi Penambangan Pig Iron

Dengan Target Pasar PT. Krakatau Steel”,Proyek Akhir

MBA-ITB, 2007

8. Mining Business Industry, “risk trough mining industry” 1997,

http://www.mines.edu/library/ reference/ endnotestart.html

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LAMPIRAN A.1

Total Biaya Operasi Armada Utama (per jam)

Armada

Type

Jumlah

Bahan

bakar

(liter /

jam)

Oil &

grease

(liter /

jam)

bahan bakar

(Rp / Jam)

Oil & grease

(Rp / Jam)

Total Operating Cost

Drilling Machine

1

₁₅ _0.08 _{Rp 120,000.00} _{Rp 3,000.00} _{Rp 123,000.00}

Bulldozer

_D375A-5

5

₁₈ _0.08 _{Rp 720,000.00} _{Rp 15,000.00} _{Rp 735,000.00}

Excavator

_PC1800-6

3

₂₆ _0.12 _{Rp 624,000.00} _{Rp 13,500.00} _{Rp 637,500.00}

_PC750SE-7

6

_13.7 _0.08 _{Rp 657,600.00} _{Rp 18,000.00} _{Rp 675,600.00}

Wheel Loader

WA600-3

1

₂₅ _0.07 _{Rp 200,000.00} _{Rp 2,625.00} _{Rp 202,625.00}

Loading Shovel

_PC3000-1

1

_33.5 _0.09 _{Rp 268,000.00} _{Rp 3,375.00} _{Rp 271,375.00}

Dump Truck

Hino 260

JD

115

15 0.05 Rp4,600,000.00 Rp215,625.00 Rp4,815,625.00

Motor Grader

_GD511A-1

1

_10.5 _0.07 _{Rp 84,000.00} _{Rp 2,625.00} _{Rp 86,625.00}

Kompaktor CA-511DD

1

₁₅ _0.08 _{Rp 120,000.00} _{Rp 3,000.00} _{Rp 123,000.00}

Truk Air

Mitsubishi

1

₇ _0.04 _{Rp 56,000.00} _{Rp 1,500.00} _{Rp 57,500.00}

Coal Processing

Facility

-

1 44.5 0.1 Rp 356,000.00 Rp 3,750.00 Rp 359,750.00

Conveyor Belt

Bando

₁ ₃₈ _0.04 _{Rp 304,000.00} _{Rp 1,500.00} _{Rp 305,500.00}

Pompa Tambang

-

1

₅ _0.01 _{Rp 40,000.00} _{Rp 375.00} _{Rp 40,375.00}

Generator Set

30 kVA

1

₅₂ _0.01 _{Rp 416,000.00} _{Rp 375.00} _{Rp 416,375.00}

5 kVA

1

8 0.005 Rp 64,000.00 Rp 187.50 Rp 64,187.50

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LAMPIRAN A.2

Income Statement Pemilik KP Swakelola (US$)

Account 1 2 3 4 5 6 7 8 Revenue 115,200,000 120,960,000 127,008,000 133,358,400 140,026,320 147,027,636 154,379,018 162,097,969 royalti 13.5 % 15,552,000 16,329,600 17,146,080 18,003,384 18,903,553 19,848,731 20,841,167 21,883,226 SGA 58,710 61,646 64,728 67,964 71,362 74,930 78,677 82,611 Survey Konsultan 840,000 840,000 840,000 840,000 840,000 840,000 840,000 840,000 Salary expense 856,581 916,541 980,699 1,049,348 1,122,802 1,201,399 1,285,497 1,375,481 Blasting & drilling 1,260,000 2,295,000 2,295,000 2,295,000 2,295,000 2,295,000 2,295,000 2,295,000 Operating expense 6,602,139 6,932,246 7,278,858 7,642,801 8,024,941 8,426,188 8,847,497 9,289,872

Repair & maintenance 301,530 316,607 332,437 349,059 366,512 384,837 404,079 424,283 Contingencies 132,043 138,645 145,577 152,856 160,499 168,524 176,950 185,797 Total Operating Cost 25,603,002 27,830,284 29,083,379 30,400,412 31,784,669 33,239,609 34,768,867 36,376,271

Transport ke Stockpile 4,000,000 4,240,000 4,494,400 4,764,064 5,049,908 5,352,902 5,674,076 6,014,521 Transport ke Port

Sungai 9,600,000 10,080,000 10,584,000 11,113,200 11,668,860 12,252,303 12,864,918 13,508,164 Loading service 15,600,000 16,380,000 17,199,000 18,058,950 18,961,898 19,909,992 20,905,492 21,950,767 Biaya Transport Barges 31,200,000 32,760,000 34,398,000 36,117,900 37,923,795 39,819,985 41,810,984 43,901,533 Total Transport Cost 60,400,000 63,460,000 66,675,400 70,054,114 73,604,460 77,335,182 81,255,471 85,374,985

EBITDA 29,196,998 29,669,716 31,249,221 32,903,874 34,637,190 36,452,845 38,354,680 40,346,713 Interest Expense 3,483,026 3,483,026 3,483,026 3,483,026 3,483,026 3,483,026 3,483,026 3,483,026 Depresiasi & Amortisasi 1,884,563 1,884,563 1,884,563 1,884,563 1,884,563 1,884,563 1,884,563 1,884,563 EBT 23,829,410 24,302,128 25,881,633 27,536,286 29,269,602 31,085,256 32,987,092 34,979,125 Tax 7,148,823 7,290,638 7,764,490 8,260,886 8,780,881 9,325,577 9,896,127 10,493,737 Net Income 16,680,587 17,011,489 18,117,143 19,275,400 20,488,721 21,759,679 23,090,964 24,485,387

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LAMPIRAN A.3

Perhitungan NPV, IRR dan Payback Period Pemilik KP Swakelola (US$)

Tahun NAT Depreciation Retention for _{Growth Free Cash Flow} _(=11.73%)WACC Discounted Free _{Cash Flow} Discounted Free Accumulated Cash Flow

Accumulated Free Cash Flow 0 $ (37,251,613) 1.0000 $ (37,251,613) $ (37,251,613) $ (37,251,613) 1 $ 16,680,587 $ 1,884,563 $ 1,668,059 $ 16,897,090 0.8950 $ 15,123,687 $ (22,127,926) $ (20,354,523) 2 $ 17,011,489 $ 1,884,563 $ 1,701,149 $ 17,194,903 0.8011 $ 13,774,988 $ (8,352,938) $ (3,159,619) 3 $ 18,117,143 $ 1,884,563 $ 1,811,714 $ 18,189,991 0.7170 $ 13,042,767 $ 4,689,829 $ 15,030,372 4 $ 19,275,400 $ 1,884,563 $ 1,927,540 $ 19,232,423 0.6418 $ 12,342,894 $ 17,032,723 $ 34,262,794 5 $ 20,488,721 $ 1,884,563 $ 2,048,872 $ 20,324,412 0.5744 $ 11,674,727 $ 28,707,450 $ 54,587,206 6 $ 21,759,679 $ 1,884,563 $ 2,175,968 $ 21,468,274 0.5141 $ 11,037,523 $ 39,744,973 $ 76,055,480 7 $ 23,090,964 $ 1,884,563 $ 2,309,096 $ 22,666,430 0.4602 $ 10,430,458 $ 50,175,431 $ 98,721,910 8 $ 24,485,387 $ 1,884,563 $ 2,448,539 $ 23,921,411 0.4119 $ 9,852,644 $ 60,028,075 $ 122,643,321

NPV

60,028,075

$

IRR

47%

PBP

2.18 ROI

52.64%

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ROE

360%

LAMPIRAN A.4

Income Statement Pemilik KP (US$)

Account 1 2 3 4 5 6 7 8 Revenue 115,200,00 0 120,960,00 0 127,008,00 0 133,358,40 0 140,026,32 0 147,027,63 6 154,379,01 8 162,097,96 9 royalti 13.5 % 15,552,000 16,329,600 17,146,080 18,003,384 18,903,553 19,848,731 20,841,167 21,883,226 Net Revenue Pemilik KP 53,568,000 56,246,400 59,058,720 62,011,656 65,112,239 68,367,851 71,786,243 75,375,555 Community Development 4,800,000 840,000 840,000 840,000 840,000 840,000 840,000 840,000 Konsultasi & Survey 504,000 504,000 504,000 504,000 504,000 504,000 504,000 504,000

Transport Cost

Transport ke Stockpile 4,000,000 4,240,000 4,494,400 4,764,064 5,049,908 5,352,902 5,674,076 6,014,521 Transport ke Port Sungai 9,600,000 10,080,000 10,584,000 11,113,200 11,668,860 12,252,303 12,864,918 13,508,164 Loading service 15,600,000 16,380,000 17,199,000 18,058,950 18,961,898 19,909,992 20,905,492 21,950,767 Biaya Transport Barges 31,200,000 32,760,000 34,398,000 36,117,900 37,923,795 39,819,985 41,810,984 43,901,533 Total Transportation

Cost 60,400,000 63,460,000 66,675,400 70,054,114 73,604,460 77,335,182 81,255,471 85,374,985 Transport cost Pemilik

KP 36,240,000 38,076,000 40,005,240 42,032,468 44,162,676 46,401,109 48,753,282 51,224,991

EBITDA 12,024,000 16,826,400 17,709,480 18,635,188 19,605,563 20,622,741 21,688,961 22,806,565 Interest Expense 2,056,702 2,056,702 2,056,702 2,056,702 2,056,702 2,056,702 2,056,702 2,056,702

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EBT 9,967,298 14,769,698 15,652,778 16,578,486 17,548,861 18,566,039 19,632,259 20,749,863 Tax 2,990,189 4,430,909 4,695,833 4,973,546 5,264,658 5,569,812 5,889,678 6,224,959 Net Income 6,977,109 10,338,789 10,956,945 11,604,940 12,284,202 12,996,227 13,742,581 14,524,904

LAMPIRAN A.5

Perhitungan NPV, IRR dan Payback Period Pemilik KP (US$)

Tahun NAT Depreciation Retention for _{Growth Free Cash Flow} _(=11.73%)WACC Discounted Free _{Cash Flow} Accumulated Discounted Free Cash Flow

Accumulated Free Cash Flow 0 $ (21,996,813) 1.0000 $ (21,996,813) $ (21,996,813) $ (21,996,813) 1 $ 6,977,109 - $ 697,711 $ 6,279,398 0.8950 $ 5,620,355 $ (16,376,458) $ (15,717,415) 2 $ 10,338,789 - $ 1,033,879 $ 9,304,910 0.8011 $ 7,454,245 $ (8,922,213) $ (6,412,506) 3 $ 10,956,945 - $ 1,095,694 $ 9,861,250 0.7170 $ 7,070,811 $ (1,851,402) $ 3,448,745 4 $ 11,604,940 - $ 1,160,494 $ 10,444,446 0.6418 $ 6,702,987 $ 4,851,585 $ 13,893,191 5 $ 12,284,202 - $ 1,228,420 $ 11,055,782 0.5744 $ 6,350,651 $ 11,202,236 $ 24,948,973 6 $ 12,996,227 - $ 1,299,623 $ 11,696,605 0.5141 $ 6,013,597 $ 17,215,833 $ 36,645,577 7 $ 13,742,581 - $ 1,374,258 $ 12,368,323 0.4602 $ 5,691,557 $ 22,907,389 $ 49,013,901 8 $ - $ 1,452,490 $ 0.4119 $ 5,384,207 $ 28,291,597 $

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14,524,904 13,072,413 62,086,314 NPV $ 28,291,597 IRR 38% PBP 2.69 ROI 51.22% ROE 353.63%

LAMPIRAN A.6

Income Statement Kontraktor (US$)

Account 1 2 3 4 5 6 7 8

Revenue 115,200,000 120,960,000 127,008,000 133,358,400 140,026,320 147,027,636 154,379,018 162,097,969 Net Revenue Kontraktor 46,080,000 48,384,000 50,803,200 53,343,360 56,010,528 58,811,054 61,751,607 64,839,187

SGA 58,710 61,646 64,728 67,964 71,362 74,930 78,677 82,611

Survey Konsultan 336,000 336,000 336,000 336,000 336,000 336,000 336,000 336,000 Salary expense 856,581 916,541 980,699 1,049,348 1,122,802 1,201,399 1,285,497 1,375,481 Blasting & drilling 1,260,000 2,295,000 2,295,000 2,295,000 2,295,000 2,295,000 2,295,000 2,295,000 Operating expense 6,602,139 6,932,246 7,278,858 7,642,801 8,024,941 8,426,188 8,847,497 9,289,872 Repair & maintenance 301,530 316,607 332,437 349,059 366,512 384,837 404,079 424,283 Contingencies 132,043 138,645 145,577 152,856 160,499 168,524 176,950 185,797 Total Operating Cost 9,547,002 10,996,684 11,433,299 11,893,028 12,377,116 12,886,878 13,423,700 13,989,045

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Transport ke Stockpile 4,000,000 4,240,000 4,494,400 4,764,064 5,049,908 5,352,902 5,674,076 6,014,521 Transport ke Port Sungai 9,600,000 10,080,000 10,584,000 11,113,200 11,668,860 12,252,303 12,864,918 13,508,164 Loading service 15,600,000 16,380,000 17,199,000 18,058,950 18,961,898 19,909,992 20,905,492 21,950,767 Biaya Transport Barges 31,200,000 32,760,000 34,398,000 36,117,900 37,923,795 39,819,985 41,810,984 43,901,533 Total Transportation Cost 60,400,000 63,460,000 66,675,400 70,054,114 73,604,460 77,335,182 81,255,471 85,374,985 Transportation Cost

Kontraktor 24,160,000 25,384,000 26,670,160 28,021,646 29,441,784 30,934,073 32,502,188 34,149,994

EBITDA 12,372,998 12,003,316 12,699,741 13,428,687 14,191,628 14,990,103 15,825,719 16,700,149 Interest Expense 1,426,324 1,426,324 1,426,324 1,426,324 1,426,324 1,426,324 1,426,324 1,426,324 Depresiasi & Amortisasi 1,884,563 1,884,563 1,884,563 1,884,563 1,884,563 1,884,563 1,884,563 1,884,563 EBT 9,062,112 8,692,430 9,388,855 10,117,800 10,880,741 11,679,217 12,514,833 13,389,262 Tax 2,718,633 2,607,729 2,816,656 3,035,340 3,264,222 3,503,765 3,754,450 4,016,779 Net Income 6,343,478 6,084,701 6,572,198 7,082,460 7,616,519 8,175,452 8,760,383 9,372,484

LAMPIRAN A.7

Perhitungan NPV, IRR dan Payback Period Kontraktor (US$)

Tahun NAT Depreciation Retention for

Growth Free Cash Flow

WACC (=11.73%)

Discounted Free Cash Flow

Accumulated Discounted Free Cash Flow

Accumulated Free Cash Flow 0 $ (15,254,800) 1.0000 $ (15,254,800) $ (15,254,800) $ (15,254,800) 1 $ 6,343,478 $ 1,884,563 $ 634,348 $ 7,593,693 0.8950 $ 6,796,710 $ (8,458,090) $ (7,661,107) 2 $ 6,084,701 $ 1,884,563 $ 608,470 $ 7,360,793 0.8011 $ 5,896,796 $ (2,561,293) $ (300,314) 3 $ 6,572,198 $ 1,884,563 $ 657,220 $ 7,799,541 0.7170 $ 5,592,504 $ 3,031,211 $ 7,499,227 4 $ $ $ 708,246 $ 0.6418 $ $ $

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7,082,460 1,884,563 8,258,777 5,300,279 8,331,489 15,758,004 5 $ 7,616,519 $ 1,884,563 $ 761,652 $ 8,739,430 0.5744 $ 5,020,094 $ 13,351,583 $ 24,497,433 6 $ 8,175,452 $ 1,884,563 $ 817,545 $ 9,242,469 0.5141 $ 4,751,848 $ 18,103,431 $ 33,739,903 7 $ 8,760,383 $ 1,884,563 $ 876,038 $ 9,768,907 0.4602 $ 4,495,378 $ 22,598,809 $ 43,508,810 8 $ 9,372,484 $ 1,884,563 $ 937,248 $ 10,319,798 0.4119 $ 4,250,472 $ 26,849,281 $ 53,828,607 NPV 26,849,281.34 IRR 50% PBP 2.04 ROI 48.33% ROE 328.95%

LAMPIRAN A.8

Income Statement Jasa Transportasi Darat (US$)

Account 1 2 3 4 5 6 7 8

Revenue 8,760,000 9,285,600 9,842,736 10,433,300 11,059,298 11,722,856 12,426,227 13,171,801 Gaji Sopir 2,354,839 2,354,839 2,354,839 2,354,839 2,354,839 2,354,839 2,354,839 2,354,839

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Bahan Bakar 2,354,839 2,472,581 2,596,210 2,726,020 2,862,321 3,005,437 3,155,709 3,313,495 Bongkar Muat 490,591 490,591 490,591 490,591 490,591 490,591 490,591 490,591

Terpal 58,871 58,871 58,871 58,871 58,871 58,871 58,871 58,871

Pungutan Liar 588,710 588,710 588,710 588,710 588,710 588,710 588,710 588,710 Biaya Jalan 470,968 494,516 519,242 545,204 572,464 601,087 631,142 662,699 Repair & maintenance 422,000 422,000 422,000 422,000 422,000 422,000 422,000 422,000 Total Operating Cost 6,740,817 6,882,108 7,030,462 7,186,235 7,349,796 7,521,535 7,701,862 7,891,204

EBITDA 2,019,183 2,403,492 2,812,274 3,247,065 3,709,502 4,201,321 4,724,366 5,280,597 Interest Expense 868,054 868,054 868,054 868,054 868,054 868,054 868,054 868,054 Depresiasi & Amortisasi 1,055,000 1,055,000 1,055,000 1,055,000 1,055,000 1,055,000 1,055,000 1,055,000 EBT 96,129 480,438 889,220 1,324,011 1,786,448 2,278,267 2,801,312 3,357,543 Tax 28,839 144,132 266,766 397,203 535,934 683,480 840,394 1,007,263 Net Income 67,290 336,307 622,454 926,808 1,250,514 1,594,787 1,960,918 2,350,280

LAMPIRAN A.9

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Tahun NAT Depreciation Retention for _{Growth Free Cash Flow} _(=11.60%)WACC _{Free Cash Flow}Discounted Accumulated Discounted Free Cash Flow

Accumulated Free Cash Flow 0 $ (9,284,000) 1.0000 $ (9,284,000) $ (9,284,000) $ (9,284,000) 1 $ 67,290 $ 1,055,000 $ 6,729 $ 1,115,561 0.8950 $ 998,479 $ (8,285,521) $ (8,168,439) 2 $ 336,307 $ 1,055,000 $ 33,631 $ 1,357,676 0.8011 $ 1,087,646 $ (7,197,874) $ (6,810,763) 3 $ 622,454 $ 1,055,000 $ 62,245 $ 1,615,208 0.7170 $ 1,158,153 $ (6,039,722) $ (5,195,554) 4 $ 926,808 $ 1,055,000 $ 92,681 $ 1,889,127 0.6418 $ 1,212,395 $ (4,827,326) $ (3,306,427) 5 $ 1,250,514 $ 1,055,000 $ 125,051 $ 2,180,462 0.5744 $ 1,252,499 $ (3,574,828) $ (1,125,965) 6 $ 1,594,787 $ 1,055,000 $ 159,479 $ 2,490,308 0.5141 $ 1,280,347 $ (2,294,481) $ 1,364,343 7 $ 1,960,918 $ 1,055,000 $ 196,092 $ 2,819,826 0.4602 $ 1,297,605 $ (996,876) $ 4,184,169 8 $ 2,350,280 $ 1,055,000 $ 235,028 $ 3,170,252 0.4119 $ 1,305,749 $ 308,874 $ 7,354,421

NPV

$

308,874

IRR

13%

PBP

7.02 ROI

26.87%

ROE

81.77%

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LAMPIRAN A.10

Income Statement Pemilik Jalan Tambang (US$)

Keterangan Jumlah Satuan

Jumlah Batubara / hari 30000 ton

Tarif Jalan (Rupiah) 1000 per ton

Panjang Jalan 15 km

Pendapatan per hari

Rp

30,000,000 Rupiah

Pendapatan per tahun

Rp 10,800,000,000 Rupiah dalam US$ $ 1,161,290 US$ Account 1 2 3 4 5 6 7 8 Revenue 1,161,290 1,230,968 1,304,826 1,383,115 1,466,102 1,554,068 1,647,313 1,746,151 Pemeliharaan Jalan 232,258 246,194 260,965 276,623 293,220 310,814 329,463 349,230 Pengelolaan Jalan 116,129 121,935 128,032 134,434 141,156 148,213 155,624 163,405 Total Operating Cost 348,387 368,129 388,997 411,057 434,376 459,027 485,087 512,635

EBITDA 812,903 862,839 915,828 972,058 1,031,726 1,095,041 1,162,226 1,233,516 Interest Expense 1,655,252 1,655,252 1,655,252 1,655,252 1,655,252 1,655,252 1,655,252 1,655,252 Depresiasi & Amortisasi 840,000 840,000 840,000 840,000 840,000 840,000 840,000 840,000 EBT -1,682,348 -1,632,413 -1,579,423 -1,523,193 -1,463,525 -1,400,210 -1,333,026 -1,261,736

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Tax 0 0 0 0 0 0 0 0 Net Income -1,682,348 -1,632,413 -1,579,423 -1,523,193 -1,463,525 -1,400,210 -1,333,026 -1,261,736

LAMPIRAN A.11

Perhitungan NPV, IRR dan Payback Period Pemilik Jalan Tambang (US$)

Tahun NAT Depreciation Retention for _{Growth Free Cash Flow} _(=11.73%)WACC _{Free Cash Flow}Discounted

Accumulated Discounted Free Cash Flow

Accumulated Free Cash Flow 0 $ (17,703,225) 1.0000 $ (17,703,225) $ (17,703,225) $ (17,703,225) 1 $ (1,682,348) $ 840,000 $ (168,235) $ (674,113) 0.8950 $ (603,363) $ (18,306,588) $ (18,377,338) 2 $ (1,632,413) $ 840,000 $ (163,241) $ (629,172) 0.8011 $ (504,035) $ (18,810,623) $ (19,006,510) 3 $ (1,579,423) $ 840,000 $ (157,942) $ (581,481) 0.7170 $ (416,939) $ (19,227,562) $ (19,587,991) 4 $ (1,523,193) $ 840,000 $ (152,319) $ (530,874) 0.6418 $ (340,702) $ (19,568,264) $ (20,118,865) 5 $ (1,463,525) $ 840,000 $ (146,353) $ (477,173) 0.5744 $ (274,097) $ (19,842,361) $ (20,596,037) 6 $ (1,400,210) $ 840,000 $ (140,021) $ (420,189) 0.5141 $ (216,033) $ (20,058,393) $ (21,016,227) 7 $ (1,333,026) $ 840,000 $ (133,303) $ (359,723) 0.4602 $ (165,534) $ (20,223,928) $ (21,375,950) 8 $ (1,261,736) $ 840,000 $ (126,174) $ (295,562) 0.4119 $ (121,735) $ (20,345,663) $ (21,671,512) NPV (20,345,662.77) IRR -

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PBP -

ROI -

ROE -

LAMPIRAN A.12

Kebutuhan Tenaga Kerja dan Biaya Gaji Integrated Loading Port

Head Office Jumlah Gaji Pengeluaran Gaji PPH 10% Total General Manager 1 Rp20,000,000 Rp 20,000,000 Rp 2,000,000 Rp 22,000,000 Manajer Teknik & Operasi 1 Rp15,000,000 Rp 15,000,000 Rp 1,500,000 Rp 16,500,000 Manajer Personalia 1 Rp15,000,000 Rp 15,000,000 Rp 1,500,000 Rp 16,500,000 Manajer Pemasaran 1 Rp15,000,000 Rp 15,000,000 Rp 1,500,000 Rp 16,500,000 Manajer Keuangan 1 Rp15,000,000 Rp 15,000,000 Rp 1,500,000 Rp 16,500,000 Manager Akuntansi 1 Rp15,000,000 Rp 15,000,000 Rp 1,500,000 Rp 16,500,000 Staff / Administrasi 10 Rp 3,000,000 Rp 30,000,000 Rp 3,000,000 Rp 33,000,000 Sekertaris 1 Rp 4,000,000 Rp 4,000,000 Rp 400,000 Rp 4,400,000

Mine Office Jumlah Gaji Pengeluaran Gaji PPH 10% Total

Site Manager 1 Rp10,000,000 Rp 10,000,000 Rp 1,000,000 Rp 11,000,000 Load Master 1 Rp 6,000,000 Rp 6,000,000 Rp 600,000 Rp 6,600,000 Supervisor Produksi & Kontrol 1 Rp 6,000,000 Rp 6,000,000 Rp 600,000 Rp 6,600,000 Office Staff 4 Rp 3,000,000 Rp 12,000,000 Rp 1,200,000 Rp 13,200,000 Sekertaris 1 Rp 3,500,000 Rp 3,500,000 Rp 350,000 Rp 3,850,000

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Mekanik 2 Rp 3,000,000 Rp 6,000,000 Rp 600,000 Rp 6,600,000 Operator Armada Tambang 30 Rp 2,750,000 Rp 82,500,000 Rp 8,250,000 Rp 90,750,000 Welder 2 Rp 2,500,000 Rp 5,000,000 Rp 500,000 Rp 5,500,000

Total Tenaga Kerja 59 Total Gaji Rp286,000,000

LAMPIRAN A.13

Biaya Operasional Integrated Loading Port

1. Biaya Gaji

Head Office Jumlah Gaji Pengeluaran Gaji PPH 10% Total General Manager 1 Rp20,000,000 Rp 20,000,000 Rp 2,000,000 Rp 22,000,000 Manajer Teknik & Operasi 1 Rp15,000,000 Rp 15,000,000 Rp 1,500,000 Rp 16,500,000 Manajer Personalia 1 Rp15,000,000 Rp 15,000,000 Rp 1,500,000 Rp 16,500,000 Manajer Pemasaran 1 Rp15,000,000 Rp 15,000,000 Rp 1,500,000 Rp 16,500,000 Manajer Keuangan 1 Rp15,000,000 Rp 15,000,000 Rp 1,500,000 Rp 16,500,000 Manager Akuntansi 1 Rp15,000,000 Rp 15,000,000 Rp 1,500,000 Rp 16,500,000 Staff / Administrasi 10 Rp 3,000,000 Rp 30,000,000 Rp 3,000,000 Rp 33,000,000 Sekertaris 1 Rp 4,000,000 Rp 4,000,000 Rp 400,000 Rp 4,400,000

Mine Office Jumlah Gaji Pengeluaran Gaji PPH 10% Total

Site Manager 1 Rp10,000,000 Rp 10,000,000 Rp 1,000,000 Rp 11,000,000 Load Master 1 Rp 6,000,000 Rp 6,000,000 Rp 600,000 Rp 6,600,000 Supervisor Produksi & Kontrol 1 Rp 6,000,000 Rp 6,000,000 Rp 600,000 Rp 6,600,000 Office Staff 4 Rp 3,000,000 Rp 12,000,000 Rp 1,200,000 Rp 13,200,000

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Sekertaris 1 Rp 3,500,000 Rp 3,500,000 Rp 350,000 Rp 3,850,000 Mekanik 2 Rp 3,000,000 Rp 6,000,000 Rp 600,000 Rp 6,600,000 Operator Armada Tambang 30 Rp 2,750,000 Rp 82,500,000 Rp 8,250,000 Rp 90,750,000 Welder 2 Rp 2,500,000 Rp 5,000,000 Rp 500,000 Rp 5,500,000

Total Tenaga Kerja 59 Total Gaji Rp286,000,000

2. Biaya Operasi Armada Loading Port

Armada

Type

Jumlah

Bahan bakar

(liter / jam)

Oil & grease

(liter / jam)

bahan bakar (Rp /

Jam)

Oil & grease

(Rp / Jam)

Total Operating

Cost

Bulldozer

_D375A-5

1

₁₈ _0.08 _{Rp 144,000.00} _{Rp 3,000.00} _{Rp 147,000.00}

Excavator

PC750SE-7

1

_13.7 _0.08 _{Rp 109,600.00} _{Rp 3,000.00} _{Rp 112,600.00}

Wheel Loader

WA600-3

2

₂₅ _0.07 _{Rp 400,000.00} _{Rp 5,250.00} _{Rp 405,250.00}

Loading Shovel

_PC3000-1

1

_33.5 _0.09 _{Rp 268,000.00} _{Rp 3,375.00} _{Rp 271,375.00}

Dump Truck

Hino 260

JD

20

15 0.05 Rp2,400,000.00 Rp 37,500.00 Rp2,437,500.00

Kompaktor CA-511DD

1

₁₅ _0.08 _{Rp 120,000.00} _{Rp 3,000.00} _{Rp 123,000.00}

Truk Air

Mitsubishi

1

₇ _0.04 _{Rp 56,000.00} _{Rp 1,500.00} _{Rp 57,500.00}

Conveyor Belt

Bando

₂ ₃₈ _0.04 _{Rp 608,000.00} _{Rp 3,000.00} _{Rp 611,000.00}

Generator Set

30 kVA

1

₅₂ _0.01 _{Rp 416,000.00} _{Rp 375.00} _{Rp 416,375.00}

5 kVA

1

8 0.005 Rp 64,000.00 Rp 187.50 Rp 64,187.50

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3. Biaya Administrasi Umum

Biaya administrasi dan umum IDR USD

Pemeliharaan Infrastruktur Tambang 8,000,000 860.22 Office stationary & equipment 1,000,000 107.53 Telefon & Internet 3,000,000 322.58

Listrik

Catering & akomodasi 28,000,000 3,010.75 Air Minum 500,000 53.76 Tak terduga 5,000,000 537.63

Total 45,500,000 4,892

4. Biaya Sampling Batubara

Konsultasi & Survey

Biaya Sampling (US$ / ton)

Sampling di Truk 0.09

Sampling Loading 0.11

Sampling di Crane 0.15

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Total biaya sampling 2.4 juta ton 840000

LAMPIRAN A.14

Income Statement Integrated Loading Port (US$)

Account 1 2 3 4 5 6 7 8 Revenue Loading Fee 9,600,000 10,080,000 10,584,000 11,113,200 11,668,860 12,252,303 12,864,918 13,508,164 Blending Fee 2,400,000 2,520,000 2,646,000 2,778,300 2,917,215 3,063,076 3,216,230 3,377,041 Survey Fee 840,000 840,000 840,000 840,000 840,000 840,000 840,000 840,000 Transport Fee (barges) 16,800,000 17,976,000 19,234,320 20,580,722 22,021,373 23,562,869 25,212,270 26,977,129 Total Revenue 29,640,000 31,416,000 33,304,320 35,312,222 37,447,448 39,718,248 42,133,418 44,702,334 Expenses SGA 58,710 61,645 64,727 67,964 71,362 74,930 78,677 82,610 Salary Expense 369,032 391,174 414,645 439,523 465,895 493,848 523,479 554,888 Operating Cost 3,776,576 3,965,404 4,163,675 4,371,858 4,590,451 4,819,974 5,060,973 5,314,021 Repair & maintenance 155,800 163,590 171,770 180,358 189,376 198,845 208,787 219,226 Contingencies 77,900 81,795 85,885 90,179 94,688 99,422 104,393 109,613 Tug & Barge Cost 15,120,000 16,178,400 17,310,888 18,522,650 19,819,236 21,206,582 22,691,043 24,279,416 Total Operating Cost 19,558,018 20,842,009 22,211,589 23,672,533 25,231,007 26,893,602 28,667,352 30,559,775

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EBITDA 10,081,982 10,573,991 11,092,731 11,639,690 12,216,440 12,824,646 13,466,066 14,142,559 Interest Expense 1,065,115 1,065,115 1,065,115 1,065,115 1,065,115 1,065,115 1,065,115 1,065,115 Depresiasi & Amortisasi 973,750 973,750 973,750 973,750 973,750 973,750 973,750 973,750 EBT 8,043,118 8,535,127 9,053,866 9,600,825 10,177,576 10,785,782 11,427,201 12,103,694 Tax 2,412,935 2,560,538 2,716,160 2,880,248 3,053,273 3,235,735 3,428,160 3,631,108 Net Income 5,630,182 5,974,589 6,337,707 6,720,578 7,124,303 7,550,047 7,999,041 8,472,586

LAMPIRAN A.15

Perhitungan NPV, IRR dan Payback Period Integrated Loading Port (US$)

Tahun NAT Depreciation Retention for _{Growth Free Cash Flow} _(=11.73%)WACC _{Free Cash Flow}Discounted Accumulated Discounted Free Cash Flow

Accumulated Free Cash Flow 0 $ (11,391,600) 1.0000 $ (11,391,600) $ (11,391,600) $ (11,391,600) 1 $ 5,630,182 $ 973,750 $ 563,018 $ 6,040,914 0.8950 $ 5,406,901 $ (5,984,699) $ (5,350,686) 2 $ 5,974,589 $ 973,750 $ 597,459 $ 6,350,880 0.8011 $ 5,087,746 $ (896,953) $ 1,000,194 3 $ 6,337,707 $ 973,750 $ 633,771 $ 6,677,686 0.7170 $ 4,788,100 $ 3,891,147 $ 7,677,880 4 $ 6,720,578 $ 973,750 $ 672,058 $ 7,022,270 0.6418 $ 4,506,719 $ 8,397,866 $ 14,700,150 5 $ 7,124,303 $ 973,750 $ 712,430 $ 7,385,623 0.5744 $ 4,242,442 $ 12,640,308 $ 22,085,773 6 $ 7,550,047 $ 973,750 $ 755,005 $ 7,768,792 0.5141 $ 3,994,184 $ 16,634,491 $ 29,854,565

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7 $ 7,999,041 $ 973,750 $ 799,904 $ 8,172,887 0.4602 $ 3,760,934 $ 20,395,426 $ 38,027,452 8 $ 8,472,586 $ 973,750 $ 847,259 $ 8,599,077 0.4119 $ 3,541,750 $ 23,937,175 $ 46,626,529 NPV $ 23,937,175 IRR 56% PBP 2.18 ROI 58.88% ROE 408.00%

LAMPIRAN B

PEMBOBOTAN KRITERIA KELAYAKAN USAHA

1. Nilai bobot tiap kriteria

Penilaian Bobot Skor Swakelola Pemilik KP Kontraktor KP Owner Cargo Tambang Jalan Loading Port + Sungai Cargo

Strategic Value 27% 80 40 40 25 70 75 35

Financial

Performance

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37,251,613 21,996,813 15,254,800 9,284,000 17,703,225 11,361,600 3,548,380 NPV 8% $ 60,028,075 $ 28,291,597 $ 26,849,281 $ 308,874 $ 19,803,982 $ 23,937,175 $ 2,501,469 IRR 8% 47% 38% 50% 13% - 56% 28% PBP(tahun) 8% 2.18 2.69 2.04 7.02 - 2.18 3.4 ROI 8% 52.64% 51.22% 48.33% 26.87% - 58.88% 28% ROE 8% 360% 353.63% 328.95% 81.77% - 408% 177% Total 48% Resiko Usaha Sengketa Lahan 5.00% 16 16 1 1 16 16 1 Regulasi 5.00% 10 10 1 1 1 10 1 Operasi 5.00% 6 1 6 16 20 6 16 Business Risk 5.00% 25 1 25 12 12 1 12 Keamanan 5.00% 3 1 3 25 1 12 1 Total 25.00% 60 29 36 55 50 45 50 Total 100.00%

2. Skor tiap kriteria

Penilaian Bobot Skor Swakelola Pemilik KP Kontraktor KP Owner Cargo Tambang Jalan Loading Port + Sungai Cargo

Strategic Value 27% 21.6 10.8 10.8 6.75 18.9 20.25 9.45

Financial

Performance

Initial Investment 8% 2.7 4.5 6.6 10.8 5.6 8.8 9.4

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IRR 8% 1.7 2.2 1.6 5.6 0.0 1.7 2.7 PBP(tahun) 8% 1.744 2.152 1.632 5.616 0 1.744 2.72 ROI 8% 4.2112 4.0976 3.8664 2.1496 0 4.7104 2.24 ROE 8% 28.8 28.2904 26.316 6.5416 0 32.64 14.16 Total 48% 66.8 54.9 53.5 37.5 26.5 72.3 40.9 Resiko Usaha Sengketa Lahan 6.00% 16 16 1 1 16 16 1 Regulasi 6.00% 10 10 1 1 1 10 1 Operasi 6.00% 6 1 6 16 20 6 16 Business Risk 6.00% 25 1 25 12 12 1 12 Keamanan 6.00% 3 1 3 25 1 12 1 Total 25.00% 18 8.7 10.8 16.5 15 13.5 13.5 Total 100.00% 48.8 46.2 42.7 21.0 11.5 58.8 27.4