The early days: The very first shipment of Envirocoal leaves Adaro Indonesia’s mine site in South Kalimantan in 1991.
PT Alamtri Resources Indonesia Tbk (“AlamTri”) was established in 2004 as an Indonesian limited-liability company PT Padang Karunia. Within the company’s fast-paced development into one of the major contributors to the nation’s commercial ventures, in 2008 it went public through an initial public offering on Indonesia Stock Exchange (IDX) and adopted the name PT Adaro Energy Tbk, because the company envisioned to operate as an integrated coal-based mining and energy company that is the biggest and most efficient in Indonesia.
PT Adaro Energy Tbk and its subsidiaries then embarked on a journey to build a solid position within Indonesian mining and energy sectors through efficient and safe operations, and secured vertically integrated pit-to-power supply chain at last. To further solidify its pride and identity as an Indonesian company, in 2022 the company proudly changed its name to PT Adaro Energy Indonesia Tbk.
Behind the success of growing a small mining company into a reputable, giant corporation is the determined, dedicated management personnel whose business acumen has secured a pivotal position within Indonesia’s business landscape. Their perseverance toward operational excellence, which also includes supply reliability amid all kinds of challenges, has crafted flagship products sought after in the global market. Their extensive experience in responding to the dynamic business environment has enabled them to expand the company, all the while ensuring to create sustainable value for all stakeholders, in particular the company’s dedicated shareholders.
In 2024, the company was ready to respond to the growing imperative: to contribute to something bigger, something greener. The management took a bold move to transform the company by forgoing the thermal coal mining and its supporting operations, aiming to maximize value out of the natural resources in the land, water, and air of Indonesia by harnessing clean energy and producing essential minerals to support the nation’s green economy. The mission to maximize value from these three elements of the Indonesia’s abundant natural resources is the inspiration behind the company’s new name PT Alamtri Resources Indonesia Tbk, which also signifies the commitment to supporting the green economy being massively developed in Indonesia as a contribution to securing a more sustainable future for the nation through renewable energy and more environmentally-friendly lifestyle.
Who are We?
An Integrated Mining and Energy Company with a Strong Position in the Industry
We have navigated through the ups and downs of our industry cycles, finding the right strategies to maintain operational and financial stability in both challenging and prosperous times. Now we have established the position as one of the leading mining and energy groups in Indonesia with abundant resources and reserves of metallurgical coal (resources totaled 983 million tonnes and reserves totaled 177 million tonnes, as of December 31, 2024). From our coal assets we produce our flagship premium-quality metallurgical coal product Enviromet, which is increasingly well-recognized in the market for its crucial role in steelmaking. This high-quality product, added with a proven track record of reliable supply, has earned us a strong and loyal customer base both domestically and internationally.
Sustainable Growth on the Back of Green Economy
In 2024, we made a strategic decision to sell our thermal coal subsidiary PT Adaro Andalan Indonesia Tbk. We have decided to dedicate our focus to the metallurgical coal and mineral businesses under AlamTri Geo, as well as our renewable energy ventures through AlamTri Eco. The new company structure will allow us to dedicate our full concentration on the sectors that align strongly with the green economy, which will secure the company’s long-term sustainable growth and place us in the strategic position to capitalize on opportunities toward generating more diversified revenue sources.
The goal is to enhance our value creation capability, from operationalizing assets to seizing green economy opportunities through a planned transformation in the businesses of renewable energy, minerals, and mineral processing. The Indonesian government’s green growth roadmap, which calls for the development of mineral processing industries integrated with renewable energy, water supply, and other resources (from 2020 to 2050), presents a significant opportunity. Through our subsidiary, PT Alamtri Minerals Indonesia Tbk (IDX: ADMR), which oversees the development of our metallurgical coal and mineral processing operations, we are at a strategic position to capitalize on this opportunity. This company is in the process of building an aluminum smelter at PT Kalimantan Industrial Park Indonesia in North Kalimantan, while under the AlamTri Eco business pillar, we are developing a hydroelectric power plant in the same region, which reinforces our commitment to renewable energy.
Prudent Capital Allocation to Optimize Growth while Returning Capital to Shareholders
We maintain a prudent approach to capital allocation, ensuring an optimal balance between returning capital to our shareholders and reinvesting in business opportunities. We ensure that the company remains disciplined in utilizing the available capital to focus on maximizing total returns, supporting sustainable growth, and providing value to all stakeholders, in particular the shareholders.
Consistent Dividend Payments and Strong Total Returns for Shareholders
Since our IPO in 2008, we have kept to our commitment to delivering returns to the shareholders through dividends, consistently distributed even during the most challenging industry cycles. Cumulatively from 2008 to 2024, we had paid out approximately $4.8 billion in dividends with an average payout ratio of 47%. Our 2025 Annual General Meeting of Shareholders approved a total dividend payment of US$500 million, or 36.23% of our 2024 profit. Additionally, we announced an interim dividend of US$200 million for the fiscal year 2024, paid on 15 January 2025.
To further enhance shareholder value, we initiated a share buyback program with a maximum value of Rp4,000,000,000,000 (four trillion Rupiah), to be executed within 12 months starting from June 3rd, 2025. Share buybacks and dividend distributions are within our strategic measures to provide our shareholders with a balanced approach to both immediate returns and long-term value creation.
Leadership Excellence and Strategic Business Acumen for Sustainable Growth
Our management team comprises business leaders and professionals who demonstrate solid experience and track records in building successful organizations alongside strong leadership, hard work, and sharp business acumen to maintain the company’s sustainability. They have consistently executed strategic initiatives while remaining agile in responding to changing business dynamics. With extensive industry experience, they create sustainable value for both short-term and long-term interests of shareholders and stakeholders alike.
Our majority shareholders are four prominent Indonesian business groups known for their track record of successful ventures, with no single individual or entity holds sole authority. This ensures a natural system of checks and balances that guarantees all decisions are made in the best interest of the company and its stakeholders.