|Oene Marseille||Emir Nurmansyah|
The pre-production company must have a 'proven' or 'probable' reserve as evidenced by a report from a competent party. Additionally, in obtaining approval for the listing, an independent valuation report is required. The report must state that the pre-production company will have obtained operational profit and net profit from its core business activities within four fiscal years of the listing date.
A holding company of a pre-production mining company may also file for listing with the IDX, provided that the subsidiary mining company possesses the proper Mining Business Licence and other required mining licences, and has proven or probable reserve as evidenced by the appropriate reports.
To be listed in the IDX main board, the applicant company is required to provide an audited financial statement showing a net tangible asset of at least Rp100 billion ($8.3 million). To be listed in the development board, the applicant company must show a net tangible asset of at least Rp5 billion.
There is also a requirement that at least one of the company's directors must have a technical background and must have had a managerial position at a mining company for at least five of the past seven years.
The company must also have submitted its work plan and operational budget to the relevant governmental agencies prior to listing.
This rule is valid from November a 2014.
Oene Marseille and Emir Nurmansyah