TUGAS BESAR ANALISIS INVESTASI TAMBANG

PROBLEM SET IV

OLEH :
KELOMPOK I

FAKULTAS TEKNIK PERTAMBANGAN DAN PERMINYAKAN

JURUSAN TEKNIK PERTAMBANGAN
FAKULTAS TEKNIK PERTAMBANGAN DAN PERMINYAKAN
UNIVERSITAS PAPUA
MANOKWARI
2017
 sift siang sift malam
kerja istirahat kerja kerja
t 07:00-12:00 12:00-13:00 13:00-18:00 19:00-00:00
nt 5 1 5 5
Σ waktu terjadwal (jam) 11 11
Σ waktu kerja efektif (jam) 20

hari libur perusahaan

bulan hari libur kalender hari hujan libur perusahaan
januari 5 6 6
februari 4 5 5
maret 5 4 5
april 7 7 7
mei 7 8 8
juni 9 8 9
juli 5 5 5
agustus 5 5 5
september 6 7 7
oktober 5 3 5
november 4 5 5
desember 8 3 8
Σ libur perusahaan 75
Σ hari kerja perusahaan 290
 sift malam
istirahat kerja
00:00-01:00 01:00-06:00
1 5
11
 ALAT
BACKHOE PC 750
ALAT UNTUK BATUBARA
DUMP TRUCK 325
ALAT DI ROM STOCKPILE Loader WA-420

H
ALAT
(mᶾ)
DUMP TRUCK HD 785 68
BACKHOE PC 750 3.06

TABEL PRODUKSI DOZER D9R DALAM (mᶾ)

ALAT JARAK DORONG
(m)
DOZER D9R
30.48

ALAT UNTUK LAND CLEARING H

BACKHOE PC 750 (mᶾ)
3.06
 TABEL PRODUKSI ALAT DALAM (ton)
Kapasitas bucket densitas H
(mᶾ) (ton/mᶾ) (ton)
3.06 1.3 3.978
24.61 1.3 31.993
3.6 1.3 4.68

TABEL PRODUKSI ALAT DALAM (mᶾ)

ALAT UNTUK LAPISAN TANAH PENUTUP
CT
I E
(detik)
2700 75% 83%
20 75% 83%

ALAT UNTUK LAPISAN PENU

KECEPATAN (m/menit) waktu ganti gigi

MAJU MUNDUR (menit)
66.67 100 0.1

TABEL PRODUKSI ALAT DALAM (mᶾ)

ALAT UNTUK LAPISAN TANAH PENUTUP
CT I E
(detik)
20 75% 83%
RODUKSI ALAT DALAM (ton)
CT PRODUKSI (ton/
I E
(detik) DETIK
20 74% 83% 0.12216438
1,749.60 74% 83% 0.011231196
36 74% 83% 0.079846

M (mᶾ)
NUTUP
PRODUKSI (mᶾ/detik, menit, jam, hari, tahun)
DETIK MENIT JAM HARI
0.0156777778 0.9406666667 56.44 1128.8
0.0952425 5.71455 342.873 6857.46

ALAT UNTUK LAPISAN PENUTUP

Kapasitas Blade blade fill factor E I

(mᶾ) (%) (%)
13.5 0.8 0.83 75

M (mᶾ)
NUTUP
PRODUKSI (mᶾ/detik, menit, jam, hari, tahun)
DETIK MENIT JAM HARI
0.0952425 5.71455 342.873 6857.46
 PRODUKSI (ton/detik, menit, jam, hari, tahun)

MENIT JAM HARI TAHUN

7.3298628 439.791768 8795.83536 2550792.2544
0.6738717627 40.4323057613 808.64611523 234507.37341564
4.79076 287.4456 5748.912 1667184.48

TAHUN
327,352
1,988,663.40

e ct q PRODUKSI (mᶾ/jam, hari, tahun)

(menit) (mᶾ) jam hari tahun
1 0.8619771411 10.8 623.96 12,479.22 3,618,973.00

TAHUN
1,988,663.40
 Tabel Kebutuhan
Alat Untuk Batubara
Alat Tahun 1 Tahun 2 Tahun 3 Tahun 4 Tahun 5
Backhoe PC 750 1 1
Dump Truck HD 325 7 2
Alat Untuk Lapisan Penutup
Alat Tahun 1 Tahun 2 Tahun 3 Tahun 4 Tahun 5
Dozer D 9 R 4 1
Backhoe PC 750 6 2
Dump Truck HD 785 27 9
Alat untuk Land Clearing
Alat Tahun 1 Tahun 2 Tahun 3 Tahun 4 Tahun 5
Backhoe PC 750 1 1
Alat untuk ROM stockpile
Alat Tahun 1 Tahun 2 Tahun 3 Tahun 4 Tahun 5
Loader WA­420 1 1
Total
2
9

Total
5
8
36

Total
2

Total
2
 Equipment type

Fungsi Tipe Price (USD) Life time (jam)

Peralatan Utama Penambangan

Alat untuk batubara
Alat gali muat Backhoe PC 750 505,000 27,000
Alat angkut Dump truck HD 325 300,000 27,000
Alat untuk lapisan penutup
Alat penyebar (disposal) Dozer D9R 575,000 27,000
Alat gali muat Backhoe PC 750 505,000 27,000
Alat angkut Dump truck HD 785 600,000 27,000
Alat untuk Land Clearing
Alat gali muat Backhoe PC 750 505,000 27,000
Peralatan Penunjang
Water truck Truck CKA-12 85,000 27,000
Diesel Genset Genset 500 Kva 40,000 27,000
Lighting Lighting 500 W 30,000 27,000
Peralatan Penunjang
Pompa Pompa Multiflow 390s 75,000 27,000
Pipa Pipa 500 27,000
Peralatan di ROM stockpile
Wheel loader Wheel loader WA-420 210,000 27,000
Diesel Genset Genset 500 kVA 40,000 27,000
Lighting Lighting 500 W 30,000 27,000
Σ 3,500,500
 Price Total (USD)
Jumlah alat (unit)
price × jumlah alat

2 1,010,000.00
9 2,700,000.00

5 2,875,000.00
8 4,040,000.00
36 21,600,000.00

2 1,010,000.00

1 85,000.00
1 40,000.00
1 30,000.00

1 75,000.00
1 500.00

2 420,000.00
2 80,000.00
3 90,000.00
Σ 34,055,500.00
3.4 Komponen Biaya
Biaya investasi (belum termasuk peralatan) untuk penambangan dikerjakan sendiri

No Description Nilai (USD)

1 Pre Development 1,910,000
2 Main Facilities 1,503,750
3 Cas on hand 7,287,703
4 Account Receivable 6,000,000
Inventory
5 Coal on stockpile 18,000,000
Consumeables 2,242,370
6 Account Payable 7,287,703
Σ 44,231,526
Equipment type

Fungsi Tipe Price (USD)

Peralatan Utama Penambangan

Alat untuk batubara
Alat gali muat Backhoe PC 750 505,000
Alat angkut Dump truck HD 325 300,000
Alat untuk lapisan penutup
Alat penyebar (disposal) Dozer D9R 575,000
Alat gali muat Backhoe PC 750 505,000
Alat angkut Dump truck HD 785 600,000
Alat untuk Land Clearing
Alat gali muat Backhoe PC 750 505,000
Peralatan Penunjang
Water truck Truck CKA-12 85,000
Diesel Genset Genset 500 Kva 40,000
Peralatan Penunjang
Pompa Pompa Multiflow 390s 75,000
Peralatan di ROM stockpile
Wheel loader Wheel loader WA-420 210,000
Diesel Genset Genset 500 kVA 40,000

modal = Σbiaya investasi disendiri + Σharga kebutuhan peralatan

modal = 78,166,526

adjusment investment 173.7033911111

mbangan dikerjakan sendiri

type
Price Total (USD)
Life time (jam) Jumlah alat (unit)
price × jumlah alat

27,000 2 1,010,000
27,000 9 2,700,000

27,000 5 2,875,000
27,000 8 4,040,000
27,000 36 21,600,000

27,000 2 1,010,000

27,000 1 85,000
27,000 1 40,000

27,000 1 75,000

27,000 2 420,000
27,000 2 80,000
Σ 33,935,000
3.4.3 Biaya Investasi (belum termasuk peralatan) untuk penambangan dikontrakkan
No Description Nilai (USD)
1 Pre-Development 1,910,000
2 Main Facilities 1,503,750
3 Vehicles 375,000
4 Cash on hand 3,751,101
5 Account Receivable 6,000,000
Inventory
6 Coal on stockpile 18,000,000
Consumeables 3,731,821
7 Account Payable 12,128,420
Σ 47,400,092

3.3 Kebutuhan Peralatan

Equipment type
Fungsi Tipe Price (USD)
Peralatan Utama Penambangan
Alat untuk batubara
Alat gali muat Backhoe PC 750 505,000
Alat angkut Dump truck HD 325 300,000
Alat untuk lapisan penutup
Alat penyebar (disposal) Dozer D9R 575,000
Alat gali muat Backhoe PC 750 505,000
Alat angkut Dump truck HD 785 600,000
Alat untuk Land Clearing
Alat gali muat Backhoe PC 750 505,000
Peralatan Penunjang
Water truck Truck CKA-12 85,000
Diesel Genset Genset 500 Kva 40,000
Peralatan Penunjang
Pompa Pompa Multiflow 390s 75,000
Peralatan di ROM stockpile
Wheel loader Wheel loader WA-420 210,000
Diesel Genset Genset 500 kVA 40,000
Σ 3,440,000

modal = Σbiaya investasi dikontrakkan + Σharga kebutuhan peralatan

modal = 81,335,092

Adjusmant Investment = 180.744648889

atan
Price Total (USD)
Life time (jam) Jumlah alat (unit)

27,000 2 1,010,000
27,000 9 2,700,000

27,000 5 2,875,000
27,000 8 4,040,000
27,000 36 21,600,000

27,000 2 1,010,000

27,000 1 85,000
27,000 1 40,000

27,000 1 75,000

27,000 2 420,000
27,000 2 80,000
Σ 33,935,000
 PERHITUNGAN DEPRESIASI
PERALATAN PENAMBANGAN
jumlah alat PRICE UMUR EKONOMI DEPRESIASI/ALAT
ALAT UNTUK BATUBARA
PCS (USD) JAM (USD)
BACKHOE PC 750 2 $505,000.00 27000 $108,481.48
DUMP TRUCK HD 325 9 $300,000.00 27000 $64,444.44
ALAT UNTUK LAPISAN PENUTUP
DOZER D 9 R 5 $575,000.00 27000 $123,518.52
BACKHOE PC 750 8 $505,000.00 27000 $108,481.48
DUMP TRUCK HD 785 36 $600,000.00 27000 $128,888.89
LAND CLEARING
BACKHOE PC 750 2 $505,000.00 27000 $108,481.48
PERALATAN PENUNJANG
WATER TRUCK CKA-12 1 $85,000.00 27000 $18,259.26
DIESEL GENSET 500 Kva 1 $40,000.00 27000 $8,592.59
LIGHTING 500 WAT 1 $30,000.00 27000 $6,444.44
POMPA MULTIFLOW 390S 1 $75,000.00 27000 $16,111.11
PIPA 1 $500.00 27000 $107.41
PERALATAN DI ROM STOCPILE
WHEEL LOADER 2 $210,000.00 27000 $45,111.11
DIESEL GENSET 2 $40,000.00 27000 $8,592.59
LIGHTING 500 WAT 3 $30,000.00 27000 $6,444.44
TOTAL $751,959.26
TOTAL Depresiasi
(USD)
$216,962.96
$580,000.00

$617,592.59
$867,851.85
$4,640,000.00

$216,962.96

$18,259.26
$8,592.59
$6,444.44
$16,111.11
$107.41

$90,222.22
$17,185.19
$19,333.33
$7,315,625.93
3.4.4. Biaya Produksi untuk penambangan dikontrakkan

Componen Unit Cost ($) cost tereskalasi

Target Produksi Coal Tahun 1
Target Produksi OB Removal 0.030
Target produksi Land Clearing
DIRECT COST
Coal Getting USD/ton 1.670 1.670
OB Removal USD/bcm 18.600 18.600
Land Clearing USD/bcm 0.250 0.250
∑
INDERECT COST
Handling ROM Stockpile USD/ton 0.180 0.180
Coal Preparation Cost USD/ton 1.000 1.000
Handling in Port Stockyard USD/ton 1.300 1.300
Barging to selling point USD/ton 2.900 2.900
Transhipment USD/ton 1.700 1.700
Supporting Equipment USD/ton 0.860 0.860
Stockpile Equipment USD/ton 0.140 0.140
Vehicles USD/ton 0.120 0.120
Indirect wage USD/ton 0.630 0.630
Equipment Maintenance USD/ton 0.200 0.200
Building Maintenance USD/ton 0.070 0.070
∑
GENERAL & ADM. COST
Administation USD/ton 0.230 0.230
Insurance & Social Sequrity USD/ton 0.170 0.170
SHE USD/ton 0.030 0.030
Reclamation USD/ton 0.080 0.080
Community Development USD/ton 0.040 0.040
Marketing Fee USD/ton 0.090 0.090
Tax and Licence USD/ton 0.100 0.100
∑
 Tahun 1 Tahun 2
Tahun 2 Tahun 3 Tahun 4 Tahun 5 1,500,000.00 2,000,000.00
11,340,000.00 15,120,000.00
1,000,000.00 1,000,000.00

1.720 1.772 1.825 1.880 2,505,000.00 3,440,200.00

19.158 19.733 20.325 20.934 210,924,000.00 289,668,960.00
0.258 0.265 0.273 0.281 250,000.00 257,500.00
213,679,000.00 293,366,660.00

0.185 0.191 0.197 0.203 270,000.00 370,800.00

1.030 1.061 1.093 1.126 1,500,000.00 2,060,000.00
1.339 1.379 1.421 1.463 1,950,000.00 2,678,000.00
2.987 3.077 3.169 3.264 4,350,000.00 5,974,000.00
1.751 1.804 1.858 1.913 2,550,000.00 3,502,000.00
0.886 0.912 0.940 0.968 1,290,000.00 1,771,600.00
0.144 0.149 0.153 0.158 210,000.00 288,400.00
0.124 0.127 0.131 0.135 180,000.00 247,200.00
0.649 0.668 0.688 0.709 945,000.00 1,297,800.00
0.206 0.212 0.219 0.225 300,000.00 412,000.00
0.072 0.074 0.076 0.079 105,000.00 144,200.00
13,650,000.00 18,746,000.00

0.237 0.244 0.251 0.259 345,000.00 473,800.00

0.175 0.180 0.186 0.191 255,000.00 350,200.00
0.031 0.032 0.033 0.034 45,000.00 61,800.00
0.082 0.085 0.087 0.090 120,000.00 164,800.00
0.041 0.042 0.044 0.045 60,000.00 82,400.00
0.093 0.095 0.098 0.101 135,000.00 185,400.00
0.103 0.106 0.109 0.113 150,000.00 206,000.00
1,110,000.00 1,524,400.00
 Tahun 3 Tahun 4 Tahun 5
2,000,000.00 2,000,000.00 600,000.00
15,120,000.00 15,120,000.00 4,536,000.00
1,000,000.00 1,000,000.00 1,000,000.00

3,543,406.00 3,649,708.18 1,127,759.83

298,359,028.80 307,309,799.66 94,958,728.10
265,225.00 273,181.75 273,181.75
302,167,659.80 311,232,689.59 96,359,669.67

381,924.00 393,381.72 121,554.95

2,121,800.00 2,185,454.00 675,305.29
2,758,340.00 2,841,090.20 877,896.87
6,153,220.00 6,337,816.60 1,958,385.33
3,607,060.00 3,715,271.80 1,148,018.99
1,824,748.00 1,879,490.44 580,762.55
297,052.00 305,963.56 94,542.74
254,616.00 262,254.48 81,036.63
1,336,734.00 1,376,836.02 425,442.33
424,360.00 437,090.80 135,061.06
148,526.00 152,981.78 47,271.37
19,308,380.00 19,887,631.40 6,145,278.10

488,014.00 502,654.42 155,320.22

360,706.00 371,527.18 114,801.90
63,654.00 65,563.62 20,259.16
169,744.00 174,836.32 54,024.42
84,872.00 87,418.16 27,012.21
190,962.00 196,690.86 60,777.48
212,180.00 218,545.40 67,530.53
1,570,132.00 1,617,235.96 499,725.91
Tabel Biaya Pengeluaran {untuk penambangan yang dikerjakan sendiri}

Componen Unit Cost ($) cost ($) tereskalasi

Target Produksi Coal tahun 1 tahun2 tahun 3 tahun 4
Target Produksi OB Removal 3%
Target Produksi Land Clearing
DIRECT COST
Coal Getting USD/Ton 1.12 1.12 1.154 1.188 1.224
OB Removal USD/bcm 6.61 6.61 6.808 7.013 7.223
Land Clearing USD/bcm 0.25 0.25 0.258 0.265 0.273
∑
INDERECT COST
Handling ROM Stockpile USD/Ton 0.18 0.18 0.185 0.191 0.197
Coal Preparation Cost USD/Ton 1.00 1.00 1.030 1.061 1.093
Handling in Port Stockyard USD/Ton 1.30 1.30 1.339 1.379 1.421
Barging to selling point USD/Ton 2.90 2.90 2.987 3.077 3.169
Transhipment USD/Ton 1.70 1.70 1.751 1.804 1.858
Supporting Equipment USD/Ton 0.86 0.86 0.886 0.912 0.940
Stockpile Equipment USD/Ton 0.14 0.14 0.144 0.149 0.153
Vehicles USD/Ton 0.12 0.12 0.124 0.127 0.131
Indirect wage USD/Ton 0.53 0.53 0.546 0.562 0.579
Equipment Maintenance USD/Ton 0.20 0.20 0.206 0.212 0.219
Building Maintenance USD/Ton 0.07 0.07 0.072 0.074 0.076
∑
GENERAL & ADM. COST
Administation USD/Ton 0.09 0.09 0.093 0.095 0.098
Insurance & Social Sequrity USD/Ton 0.93 0.93 0.958 0.987 1.016
SHE USD/Ton 0.03 0.03 0.031 0.032 0.033
Reclamation USD/Ton 0.08 0.08 0.082 0.085 0.087
Community Development USD/Ton 0.04 0.04 0.041 0.042 0.044
Marketing Fee USD/Ton 0.09 0.09 0.093 0.095 0.098
Tax and Licence USD/Ton 0.10 0.10 0.103 0.106 0.109
∑
 Tahun 1 Tahun 2 Tahun 3 Tahun 4 Tahun 5
tahun 5 1,500,000 2,000,000 2,000,000 2,000,000 600,000
11,340,000.00 15,120,000.00 15,120,000.00 15,120,000.00 4,536,000.00
1,000,000 1,000,000 1,000,000 1,000,000 1,000,000

1.261 1,680,000.00 2,307,200.00 2,376,416.00 2,447,708.48 756,341.92

7.440 74,957,400.00 102,941,496.00 106,029,740.88 109,210,633.11 33,746,085.63
0.281 250,000.00 257,500.00 265,225.00 273,181.75 281,377.20
76,887,400.00 105,506,196.00 108,671,381.88 111,931,523.34 34,783,804.75

0.203 270,000 370,800 381,924 393,382 121,555

1.126 1,500,000 2,060,000 2,121,800 2,185,454 675,305
1.463 1,950,000 2,678,000 2,758,340 2,841,090 877,897
3.264 4,350,000 5,974,000 6,153,220 6,337,817 1,958,385
1.913 2,550,000 3,502,000 3,607,060 3,715,272 1,148,019
0.968 1,290,000 1,771,600 1,824,748 1,879,490 580,763
0.158 210,000 288,400 297,052 305,964 94,543
0.135 180,000 247,200 254,616 262,254 81,037
0.597 795,000 1,091,800 1,124,554 1,158,291 357,912
0.225 300,000 412,000 424,360 437,091 135,061
0.079 105,000 144,200 148,526 152,982 47,271
13,500,000 18,540,000 19,096,200 19,669,086 6,077,748

0.101 135,000 185,400 190,962 196,691 60,777

1.047 1,395,000 1,915,800 1,973,274 2,032,472 628,034
0.034 45,000 61,800 63,654 65,564 20,259
0.090 120,000 164,800 169,744 174,836 54,024
0.045 60,000 82,400 84,872 87,418 27,012
0.101 135,000 185,400 190,962 196,691 60,777
0.113 150,000 206,000 212,180 218,545 67,531
2,040,000 2,801,600 2,885,648 2,972,217 918,415
 tabel eskalasi pendapatan

tahun harga batubara (USD/ton) Cadangan terjual

1 66.4 1500000
2 66.4 2000000
3 66.4 2000000
4 66.4 2000000
5 66.4 600000

tabel eskalasi biaya (sendiri)

Eskalasi biaya
Tahun 1 2 3
Biaya Produksi 76,887,400.00 105,506,196.00 108,671,381.88
Biaya langsung 13,500,000.00 18,000,000.00 18000000
Biaya Umum & Administrasi 2,040,000.00 2,720,000.00 2720000
Biaya Perbaikan 300,000.00 400,000.00 400000
Eskalasi 3%
Biaya Produksi 79,194,022.00 108,671,381.88 111,931,523.34
Biaya langsung 13,905,000.00 18,540,000.00 18,540,000.00
Biaya Umum & Administrasi 2,101,200.00 2,801,600.00 2,801,600.00
Biaya Perbaikan 309,000 412,000 412,000.00
Σ 95,509,222.00 130,424,981.88 133,685,123.34

92,727,400.00
-2,781,822.00
Cadangan terjual Eskalasi Hasil Eskalasi (USD/ton) Harga Batubara
1500000 66.40 99,600,000
2000000 67.06 134,128,000
2000000 0.01 67.73 135,469,280
2000000 68.41 136,823,973
600000 69.10 41,457,664

tabel eskalasi b

Eskal
4 5 Tahun 1
111,931,523.34 34,783,804.75 Biaya Produksi 213,679,000.00
18000000 6,077,748 Biaya langsung 13,650,000.00
2720000 918,415 Biaya Umum & Administrasi 1,110,000.00
400000 135,061 Biaya Perbaikan 300,000.00
Esk
115,289,469.04 35,827,318.90 Biaya Produksi 220,089,370.00
18,540,000.00 6,260,080.00 Biaya langsung 14,059,500.00
2,801,600.00 945,967.64 Biaya Umum & Administrasi 1,143,300.00
412,000.00 139,112.89 Biaya Perbaikan 309,000.00
137,043,069.04 43,172,479.43 Σ 235,601,170.00
Harga Batubara
99,600,000
134,128,000
135,469,280
136,823,973
41,457,664

tabel eskalasi biaya (dikontrakkan)

Eskalasi biaya
2 3 4 5
293,366,660.00 302,167,659.80 311,232,689.59 96,359,669.67
18,200,000.00 18,200,000.00 18,200,000.00 6,145,278.10
1,480,000.00 1,480,000.00 1,480,000.00 499,725.91
400,000.00 400,000.00 400,000.00 135,061.06
Eskalasi 3%
302,167,659.80 311,232,689.59 320,569,670.28 99,250,459.76
18,746,000.00 18,746,000.00 18,746,000.00 6,329,636.45
1,524,400.00 1,524,400.00 1,524,400.00 514,717.69
412,000.00 412,000.00 412,000.00 139,112.89
322,850,059.80 331,915,089.59 341,252,070.28 106,233,926.79
Tahun 0 1 2
Eskalasi Pendapatan 1% 66.40 67.06
Eskalasi Biaya Produksi 3% 66.40 68.39
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 8100000
Tahun 0 1 2
Pemasukan 99,600,000.00 134,128,000.00
Royalty 13.50% 13,446,000.00 18,107,280.00

Pendapatan Kotor 86,154,000.00 116,020,720.00

Direct cost 76,887,400.00 105,506,196.00
Indirect cost 13,500,000.00 18,540,000.00
Biaya Umum dan Administrasi 2,040,000.00 2,801,600.00
Biaya Perbaikan 300,000.00 412,000.00
Depresiasi 7,315,625.93 7,315,625.93

Pendapatan Sebelum Pajak - -6,573,400.00 -11,239,076.00

Pajak dan Lisensi 150,000.00 206,000.00
Depresiasi 7,315,625.93 7,315,625.93
Modal Kerja 78,166,526.00

Aliran Kas -78,166,526.00 592,225.93 -4,129,450.07

Aliran Kas Kumulatif -78,166,526.00 -77,574,300.07 -81,703,750.15
NPV -175,029,647.51
IRR Err:523
PBP -

tahun 1 2
Biaya Operasi 92,727,400.00 127,259,796.00
Total biaya operasi 527,989,732.03
 3 4 5 Tahun
67.73 68.41 69.10 Eskalasi Pendapatan
70.44 72.56 74.73 Eskalasi Biaya Produksi
(+)
2000000 2000000 600000 sensitivitas (+)
8100000 (+)
3 4 5 (+)
135,469,280.00 136,823,972.80 41,457,663.76 547478916.558 biaya (+-)
18,288,352.80 18,471,236.33 5,596,784.61 73909653.7354 (-)
(-)
117,180,927.20 118,352,736.47 35,860,879.15 473569262.823 produksi (-)
108,671,381.88 111,931,523.34 34,783,804.75 (-)
19,096,200.00 19,669,086.00 6,077,747.57
2,885,648.00 2,972,217.44 918,415.19
424,360.00 437,090.80 135,061.06
7,315,625.93 7,315,625.93 7,315,625.93

-13,896,662.68 -16,657,181.10 -6,054,149.42

212,180.00 218,545.40 67,530.53 854255.9286
7,315,625.93 7,315,625.93 7,315,625.93 3498366.67
60811526

-6,793,216.75 -9,560,100.58 1,193,945.98

-88,496,966.90 -98,057,067.48 -96,863,121.51

3 4 5
131,077,589.88 135,009,917.58 41,915,028.57
 0 1 2 3 4 5
1% 66.40 67.06 67.73 68.41 69.10
3% 66.40 68.39 70.44 72.56 74.73
25% 66.40 85.49 88.05 90.70 93.42
20% 66.40 82.07 84.53 87.07 89.68
15% 66.40 78.65 81.01 83.44 85.94
10% 66.40 75.23 77.49 79.81 82.21
0% 66.40 68.39 70.44 72.56 74.73
10% 66.40 61.55 63.40 65.30 67.26
15% 66.40 58.13 59.88 61.67 63.52
20% 66.40 54.71 84.53 58.05 59.79
25% 66.40 51.29 52.83 54.42 56.05
Tahun 0 1 2
Eskalasi Pendapatan 1% 66.40 67.06
Eskalasi Biaya Produksi 3% 66.40 68.39
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 8100000
Tahun 0 1 2
Pemasukan 99,600,000.00 134,128,000.00
Royalty 13.50% 13,446,000.00 18,107,280.00

Pendapatan Kotor 86,154,000.00 116,020,720.00

Direct cost 213,679,000.00 293,366,660.00
Indirect cost 13,650,000.00 18,746,000.00
Biaya Umum dan Administrasi 1,110,000.00 1,524,400.00
Biaya Perbaikan 300,000.00 412,000.00
Depresiasi 7,315,625.93 7,315,625.93
bunga pinjaman 4.75% 3,863,416.87 2,352,065.05
Pendapatan Sebelum Pajak -146,448,416.87 -200,380,405.05
Pajak dan Lisensi 150,000.00 206,000.00
Depresiasi 7,315,625.93 7,315,625.93
Modal Kerja - 81,335,092.00
Pengembalian pinjaman 10,212,203.37 -6.61
Aliran Kas -81,335,092.00 -149,494,994.31 -193,270,772.51
Aliran Kas Kumulatif -81,335,092.00 -230,830,086.31 -424,100,858.83
NPV -1,002,212,403.20
IRR Err:523
PBP -

tahun 1 2
biaya operasi 228,739,000.00 314,049,060.00
total biaya operasi 1,302,572,974.30
 3 4 5 Tahun
67.73 68.41 69.10 Eskalasi Pendapatan
70.44 72.56 74.73 Eskalasi Biaya Produksi
(+)
2000000 2000000 600000 sensitivitas (+)
8100000 (+)
3 4 5 547478916.558 (+)
135,469,280.00 136,823,972.80 41,457,663.76 biaya (+-)
18,288,352.80 18,471,236.33 5,596,784.61 (-)
(-)
117,180,927.20 118,352,736.47 35,860,879.15 produksi (-)
302,167,659.80 311,232,689.59 96,359,669.67 (-)
19,308,380.00 19,887,631.40 6,145,278.10 63,980,092
1,570,132.00 1,617,235.96 499,725.91 63,980,092
424,360.00 437,090.80 135,061.06
7,315,625.93 7,315,625.93 7,315,625.93
1,683,473.10 1,014,881.15 346,289.20
-207,973,077.70 -215,836,792.43 -67,625,144.79
212,180.00 218,545.40 67,530.53
7,315,625.93 7,315,625.93 7,315,625.93

-10.35 13,060,738.85 13,729,330.80

-200,869,621.42 -221,800,450.75 -74,106,380.19
-624,970,480.25 -846,770,931.00 -920,877,311.20
Modal kerja
81,335,092
81,335,092
81,335,092
81,335,092
3 4 5 81,335,092
323,470,531.80 333,174,647.75 103,139,734.75
 0 1 2 3 4 5
1% 66.40 67.06 67.73 68.41 69.10
3% 66.40 68.39 70.44 72.56 74.73
25% 66.40 85.49 88.05 90.70 93.42
20% 66.40 82.07 84.53 87.07 89.68
15% 66.40 78.65 81.01 83.44 85.94
10% 66.40 75.23 77.49 79.81 82.21
0% 66.40 68.39 70.44 72.56 74.73
10% 66.40 61.55 63.40 65.30 67.26
15% 66.40 58.13 59.88 61.67 63.52
20% 66.40 54.71 84.53 58.05 59.79
25% 66.40 51.29 52.83 54.42 56.05
4.75% 1,014,881.15 0.22 4 21,365,919 14,075,620
4.75% 346,289.20 0.22 5 7,290,299 14,075,620

angsuran pengembalian yang digunakan

bunga pinjam bunga A tahun modal pinjaman annual pinjaman
4.75% 3,863,416.87 0.22 1 63,980,092 14,075,620
4.75% 2,352,065.05 0.22 2 49,517,159 14,075,620
4.75% 1,683,473.10 0.22 3 35,441,539 14,075,620
4.75% 1,014,881.15 0.22 4 21,365,919 14,075,620
4.75% 346,289.20 0.22 5 7,290,299 14,075,620
 pengembalian pinjaman sisa pinjaman
-3 -2
-7 -2
-10 -2
13,060,739 7,290,299
13,729,331 -6,785,321

gunakan
pengembalian pinjaman sisa pinjaman
10,212,203.37 49,904,472
11,723,555 35,441,539
12,392,147 21,365,919
13,060,739 7,290,299
13,729,331 -6,785,321
 Tabel perubahan terhadap biaya
no Biaya Tahun 1 Tahun 2 Tahun 3 Tahun 4
Biaya Produksi 76,887,400.00 105,506,196.00 108,671,381.88 111,931,523.34
Biaya Langsung 13,500,000.00 18,540,000.00 19,096,200.00 19,669,086.00
a
Biaya Umum & Administrasi 2,040,000.00 2,801,600.00 2,885,648.00 2,972,217.44
Biaya Perbaikan 300,000.00 412,000.00 424,360.00 437,090.80
19,221,850.00 26,376,549.00 27,167,845.47 27,982,880.83
(+) 3,375,000.00 4,635,000.00 4,774,050.00 4,917,271.50
b
25% 510,000.00 700,400.00 721,412.00 743,054.36
75,000.00 103,000.00 106,090.00 109,272.70
Biaya Produksi 96,109,250.00 131,882,745.00 135,839,227.35 139,914,404.17
Biaya Langsung 16,875,000.00 23,175,000.00 23,870,250.00 24,586,357.50
a+b
Biaya Umum & Administrasi 2,550,000.00 3,502,000.00 3,607,060.00 3,715,271.80
375,000.00 515,000.00 530,450.00
Biaya Perbaikan Tabel 3.25. Sensitivitas Dikerjakan Sendiri Dengan Eskalasi 25%546,363.50
Tabel 3.25. Sensitivitas Dikerjakan Sendiri Dengan Eskalasi 25%

no Biaya Tahun 1 Tahun 2 Tahun 3 Tahun 4

a Biaya Produksi 76,887,400.00 105,506,196.00 108,671,381.88 111,931,523.34
Biaya Langsung 13,500,000.00 18,540,000.00 19,096,200.00 19,669,086.00
Biaya Umum & Administrasi 2,040,000.00 2,801,600.00 2,885,648.00 2,972,217.44
Biaya Perbaikan 300,000.00 412,000.00 424,360.00 437,090.80
b 15,377,480.00 21,101,239.20 21,734,276.38 22,386,304.67
(+) 2,700,000.00 3,708,000.00 3,819,240.00 3,933,817.20
20% 408,000.00 560,320.00 577,129.60 594,443.49
60,000.00 82,400.00 84,872.00 87,418.16
a+b Biaya Produksi 92,264,880.00 126,607,435.20 130,405,658.26 134,317,828.00
Biaya Langsung 16,200,000.00 22,248,000.00 22,915,440.00 23,602,903.20
Biaya Umum & Administrasi 2,448,000.00 3,361,920.00 3,462,777.60 3,566,660.93
Biaya Perbaikan Tabel 3.26. Sensitivitas
360,000.00 494,400.00
Dikerjakan 509,232.00
Sendiri Dengan 524,508.96
Eskalasi 20%
Tabel 3.25. Sensitivitas Dikerjakan Sendiri Dengan Eskalasi 25%
 Tahun 5
34,783,804.75 no Biaya Tahun 1 Tahun 2
6,077,747.57 a Biaya Produksi 76,887,400.00 105,506,196.00
918,415.19 Biaya Langsung 13,500,000.00 18,540,000.00
135,061.06 Biaya Umum & Administrasi 2,040,000.00 2,801,600.00
8,695,951.19 Biaya Perbaikan 300,000.00 412,000.00
1,519,436.89 b 11,533,110.00 15,825,929.40
229,603.80 (+) 2,025,000.00 2,781,000.00
33,765.26 15% 306,000.00 420,240.00
43,479,755.94 45,000.00 61,800.00
7,597,184.47 a+b Biaya Produksi 88,420,510.00 121,332,125.40
1,148,018.99 Biaya Langsung 15,525,000.00 21,321,000.00
% 168,826.32 Biaya Umum & Administrasi 2,346,000.00 3,221,840.00
% 345,000.00
Biaya Perbaikan Tabel 3.27. Sensitivitas 473,800.00
Dikerjakan Sendiri Dengan Eskalasi 15
Tabel 3.25. Sensitivitas Dikerjakan Sendiri Dengan Eskalasi 25
Tahun 5
34,783,804.75 no Biaya Tahun 1 Tahun 2
6,077,747.57 a Biaya Produksi 76,887,400.00 105,506,196.00
918,415.19 Biaya Langsung 13,500,000.00 18,540,000.00
135,061.06 Biaya Umum & Administrasi 2,040,000.00 2,801,600.00
6,956,760.95 Biaya Perbaikan 300,000.00 412,000.00
1,215,549.51 b 7,688,740.00 10,550,619.60
183,683.04 (+) 1,350,000.00 1,854,000.00
27,012.21 10% 204,000.00 280,160.00
41,740,565.70 30,000.00 41,200.00
7,293,297.09 a+b Biaya Produksi 84,576,140.00 116,056,815.60
1,102,098.23 Biaya Langsung 14,850,000.00 20,394,000.00
% 162,073.27 Biaya Umum & Administrasi 2,244,000.00 3,081,760.00
% 330,000.00
Biaya Perbaikan Tabel 3.28. Sensitivitas 453,200.00
Dikerjakan Sendiri Dengan Eskalasi 10
Tabel 3.25. Sensitivitas Dikerjakan Sendiri Dengan Eskalasi 25
 Tahun 3 Tahun 4 Tahun 5
108,671,381.88 111,931,523.34 34,783,804.75
19,096,200.00 19,669,086.00 6,077,747.57
2,885,648.00 2,972,217.44 918,415.19
424,360.00 437,090.80 135,061.06
16,300,707.28 16,789,728.50 5,217,570.71
2,864,430.00 2,950,362.90 911,662.14
432,847.20 445,832.62 137,762.28
63,654.00 65,563.62 20,259.16
124,972,089.16 128,721,251.84 40,001,375.47
21,960,630.00 22,619,448.90 6,989,409.71
3,318,495.20 3,418,050.06 1,056,177.47
488,014.00
n Sendiri Dengan 502,654.42
Eskalasi 15% 155,320.22
an Sendiri Dengan Eskalasi 25%

Tahun 3 Tahun 4 Tahun 5

108,671,381.88 111,931,523.34 34,783,804.75
19,096,200.00 19,669,086.00 6,077,747.57
2,885,648.00 2,972,217.44 918,415.19
424,360.00 437,090.80 135,061.06
10,867,138.19 11,193,152.33 3,478,380.48
1,909,620.00 1,966,908.60 607,774.76
288,564.80 297,221.74 91,841.52
42,436.00 43,709.08 13,506.11
119,538,520.07 123,124,675.67 38,262,185.23
21,005,820.00 21,635,994.60 6,685,522.33
3,174,212.80 3,269,439.18 1,010,256.71
466,796.00
n Sendiri Dengan 480,799.88
Eskalasi 10% 148,567.16
an Sendiri Dengan Eskalasi 25%
Tabel perubahan terhadap (+)
biaya
0
no Biaya Tahun 1 Tahun 2 Tahun 3 Tahun 4
Biaya Produksi 76,887,400.00 105,506,196.00 108,671,381.88 111,931,523.34
Biaya Langsung 13,500,000.00 18,540,000.00 19,096,200.00 19,669,086.00
a
Biaya Umum & Administrasi 2,040,000.00 2,801,600.00 2,885,648.00 2,972,217.44
Biaya Perbaikan 300,000.00 412,000.00 424,360.00 437,090.80
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
b
0% 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
Biaya Produksi 76,887,400.00 105,506,196.00 108,671,381.88 111,931,523.34
Biaya Langsung 13,500,000.00 18,540,000.00 19,096,200.00 19,669,086.00
a+b
Biaya Umum & Administrasi 2,040,000.00 2,801,600.00 2,885,648.00 2,972,217.44
Biaya Perbaikan 300,000.00 412,000.00 424,360.00 437,090.80

Tabel perubahan terhadap (-)

biaya
15

Tabel perubahan terh(-) 20

Tabel perubahan terh(-) 20

no Biaya Tahun 1 Tahun 2 Tahun 3 Tahun 4
a Biaya Produksi 76,887,400.00 105,506,196.00 108,671,381.88 111,931,523.34
Biaya Langsung 13,500,000.00 18,540,000.00 19,096,200.00 19,669,086.00
Biaya Umum & Administrasi 2,040,000.00 2,801,600.00 2,885,648.00 2,972,217.44
Biaya Perbaikan 300,000.00 412,000.00 424,360.00 437,090.80
b -20% -15,377,480.00 -21,101,239.20 -21,734,276.38 -22,386,304.67
-2,700,000.00 -3,708,000.00 -3,819,240.00 -3,933,817.20
-408,000.00 -560,320.00 -577,129.60 -594,443.49
-60,000.00 -82,400.00 -84,872.00 -87,418.16
a+b Biaya Produksi 61,509,920.00 84,404,956.80 86,937,105.50 89,545,218.67
Biaya Langsung 10,800,000.00 14,832,000.00 15,276,960.00 15,735,268.80
 Biaya Umum & Administrasi 1,632,000.00 2,241,280.00 2,308,518.40 2,377,773.95
Biaya PerbaikanTabel 3.31. Sensitivitas
240,000.00 329,600.00
Dikerjakan 339,488.00
Sendiri Dengan 349,672.64
Penurunan 20%
Tabel 3.25. Sensitivitas Dikerjakan Sendiri Dengan Eskalasi 25%

no Biaya Tahun 1 Tahun 2 Tahun 3 Tahun 4

a Biaya Produksi 76,887,400.00 105,506,196.00 108,671,381.88 111,931,523.34
Biaya Langsung 13,500,000.00 18,540,000.00 19,096,200.00 19,669,086.00
Biaya Umum & Administrasi 2,040,000.00 2,801,600.00 2,885,648.00 2,972,217.44
Biaya Perbaikan 300,000.00 412,000.00 424,360.00 437,090.80
b -25% -19,221,850.00 -26,376,549.00 -27,167,845.47 -27,982,880.83
-3,375,000.00 -4,635,000.00 -4,774,050.00 -4,917,271.50
-510,000.00 -700,400.00 -721,412.00 -743,054.36
-75,000.00 -103,000.00 -106,090.00 -109,272.70
a+b Biaya Produksi 57,665,550.00 79,129,647.00 81,503,536.41 83,948,642.50
Biaya Langsung 10,125,000.00 13,905,000.00 14,322,150.00 14,751,814.50
Biaya Umum & Administrasi 1,530,000.00 2,101,200.00 2,164,236.00 2,229,163.08
Biaya PerbaikanTabel 3.32. Sensitivitas
225,000.00 309,000.00
Dikerjakan 318,270.00
Sendiri Dengan 327,818.10
Penurunan 25%
Tabel 3.25. Sensitivitas Dikerjakan Sendiri Dengan Eskalasi 25%
 Tabel perubahan terhadap (-)
biaya
10
Tahun 5 no Biaya Tahun 1 Tahun 2
34,783,804.75 Biaya Produksi 76,887,400.00 105,506,196.00
6,077,747.57 Biaya Langsung 13,500,000.00 18,540,000.00
a
918,415.19 Biaya Umum & Administrasi 2,040,000.00 2,801,600.00
135,061.06 Biaya Perbaikan 300,000.00 412,000.00
0.00 -7,688,740.00 -10,550,619.60
0.00 -1,350,000.00 -1,854,000.00
b -10%
0.00 -204,000.00 -280,160.00
0.00 -30,000.00 -41,200.00
34,783,804.75 Biaya Produksi 69,198,660.00 94,955,576.40
6,077,747.57 Biaya Langsung 12,150,000.00 16,686,000.00
a+b
918,415.19 Biaya Umum & Administrasi 1,836,000.00 2,521,440.00
135,061.06 Biaya PerbaikanTabel 3.29. Sensitivitas
270,000.00 370,800.00
Dikerjakan Sendiri Dengan Penuru
Tabel 3.25. Sensitivitas Dikerjakan Sendiri Dengan Penuru

no Biaya Tahun 1 Tahun 2

a Biaya Produksi 76,887,400.00 105,506,196.00
Biaya Langsung 13,500,000.00 18,540,000.00
Biaya Umum & Administrasi 2,040,000.00 2,801,600.00
Biaya Perbaikan 300,000.00 412,000.00
b -11,533,110.00 -15,825,929.40
-2,025,000.00 -2,781,000.00
-15% -306,000.00 -420,240.00
-45,000.00 -61,800.00
a+b Biaya Produksi 65,354,290.00 89,680,266.60
Biaya Langsung 11,475,000.00 15,759,000.00
Biaya Umum & Administrasi 1,734,000.00 2,381,360.00
Biaya PerbaikanTabel 3.30. Sensitivitas
255,000.00 350,200.00
Dikerjakan Sendiri Dengan Penuru
Tabel 3.25. Sensitivitas Dikerjakan Sendiri Dengan Eskala

Tahun 5
34,783,804.75
6,077,747.57
918,415.19
135,061.06
-6,956,760.95
-1,215,549.51
-183,683.04
-27,012.21
27,827,043.80
4,862,198.06
 734,732.15
% 108,048.85
%

Tahun 5
34,783,804.75
6,077,747.57
918,415.19
135,061.06
-8,695,951.19
-1,519,436.89
-229,603.80
-33,765.26
26,087,853.56
4,558,310.68
688,811.39
% 101,295.79
%
 Tahun 3 Tahun 4 Tahun 5
108,671,381.88 111,931,523.34 34,783,804.75
19,096,200.00 19,669,086.00 6,077,747.57
2,885,648.00 2,972,217.44 918,415.19
424,360.00 437,090.80 135,061.06
-10,867,138.19 -11,193,152.33 -3,478,380.48
-1,909,620.00 -1,966,908.60 -607,774.76
-288,564.80 -297,221.74 -91,841.52
-42,436.00 -43,709.08 -13,506.11
97,804,243.69 100,738,371.00 31,305,424.28
17,186,580.00 17,702,177.40 5,469,972.82
2,597,083.20 2,674,995.70 826,573.67
381,924.00
Sendiri Dengan 393,381.72
Penurunan 10% 121,554.95
Sendiri Dengan Penurunan 10%

Tahun 3 Tahun 4 Tahun 5

108,671,381.88 111,931,523.34 34,783,804.75
19,096,200.00 19,669,086.00 6,077,747.57
2,885,648.00 2,972,217.44 918,415.19
424,360.00 437,090.80 135,061.06
-16,300,707.28 -16,789,728.50 -5,217,570.71
-2,864,430.00 -2,950,362.90 -911,662.14
-432,847.20 -445,832.62 -137,762.28
-63,654.00 -65,563.62 -20,259.16
92,370,674.60 95,141,794.84 29,566,234.04
16,231,770.00 16,718,723.10 5,166,085.44
2,452,800.80 2,526,384.82 780,652.91
360,706.00
Sendiri Dengan 371,527.18
Penurunan 15% 114,801.90
n Sendiri Dengan Eskalasi 25%
Eskalasi Pendapatan 1% 66.40 67.06
Eskalasi Biaya Produksi 25% 66.40 85.49
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 8100000
Tahun 0 1 2
Pemasukan 99,600,000.00 134,128,000.00
Royalty 13.50% 13,446,000.00 18,107,280.00

Pendapatan Kotor 86,154,000.00 116,020,720.00

Direct cost 96,109,250.00 131,882,745.00
Indirect cost 16,875,000.00 23,175,000.00
Biaya Umum dan Administrasi 2,550,000.00 3,502,000.00
Biaya Perbaikan 375,000.00 515,000.00
Depresiasi 7,315,625.93 7,315,625.93

Pendapatan Sebelum Pajak - -29,755,250.00 -43,054,025.00

Pajak dan Lisensi 150,000.00 206,000.00
Depresiasi 7,315,625.93 7,315,625.93
Modal Kerja -78,166,526.00

Aliran Kas -78,166,526.00 -22,589,624.07 -35,944,399.07

Aliran Kas Kumulatif -78,166,526.00 -100,756,150.07 -136,700,549.15
NPV -298,331,129.32
IRR Err:523
PBP -

Eskalasi Pendapatan 1% 66.40 67.06

Eskalasi Biaya Produksi 10% 66.40 75.23
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 8100000
Tahun 0 1 2
Pemasukan 99,600,000.00 134,128,000.00
Royalty 13.50% 13,446,000.00 18,107,280.00

Pendapatan Kotor 86,154,000.00 116,020,720.00

Direct cost 84,576,140.00 116,056,815.60
Indirect cost 14,850,000.00 20,394,000.00
Biaya Umum dan Administrasi 2,244,000.00 3,081,760.00
Biaya Perbaikan 330,000.00 453,200.00
Depresiasi 7,315,625.93 7,315,625.93

Pendapatan Sebelum Pajak - -15,846,140.00 -23,965,055.60

Pajak dan Lisensi 150,000.00 206,000.00
 Depresiasi 7,315,625.93 7,315,625.93
Modal Kerja -78,166,526.00

Aliran Kas -78,166,526.00 -8,680,514.07 -16,855,429.67

Aliran Kas Kumulatif -78,166,526.00 -86,847,040.07 -103,702,469.75
NPV -227,828,620.71
IRR Err:523
PBP -
 67.73 68.41 69.10 Eskalasi Pendapatan
88.05 90.70 93.42 Eskalasi Biaya Produksi
diri Aliran Kas Modal Sendiri
2000000 2000000 600000 Produksi Batubara (Ton)
8100000 Total Produksi Batubara (Ton)
3 4 5 Tahun
135,469,280.00 136,823,972.80 41,457,663.76 Pemasukan
18,288,352.80 18,471,236.33 5,596,784.61 Royalty

117,180,927.20 118,352,736.47 35,860,879.15 Pendapatan Kotor

135,839,227.35 139,914,404.17 34,783,804.75
23,870,250.00 24,586,357.50 7,597,184.47
3,607,060.00 3,715,271.80 1,148,018.99
530,450.00 546,363.50 168,826.32
7,315,625.93 7,315,625.93 7,315,625.93

-46,666,060.15 -50,409,660.50 -7,836,955.38 Pendapatan Sebelum Pajak

212,180.00 218,545.40 67,530.53
7,315,625.93 7,315,625.93 7,315,625.93

-39,562,614.22 -43,312,579.97 -588,859.98 Aliran Kas

-176,263,163.37 -219,575,743.34 -220,164,603.32 Aliran Kas Kumulatif
NPV
IRR
PBP

67.73 68.41 69.10 Eskalasi Pendapatan

77.49 79.81 82.21 Eskalasi Biaya Produksi
Aliran Kas Modal Sendiri
2000000 2000000 600000 Produksi Batubara (Ton)
8100000 Total Produksi Batubara (Ton)
3 4 5 Tahun
135,469,280.00 136,823,972.80 41,457,663.76 Pemasukan
18,288,352.80 18,471,236.33 5,596,784.61 Royalty

117,180,927.20 118,352,736.47 35,860,879.15 Pendapatan Kotor

119,538,520.07 123,124,675.67 38,262,185.23
21,005,820.00 21,635,994.60 6,685,522.33
3,174,212.80 3,269,439.18 1,010,256.71
466,796.00 480,799.88 148,567.16
7,315,625.93 7,315,625.93 7,315,625.93

-27,004,421.67 -30,158,172.86 -10,245,652.28 Pendapatan Sebelum Pajak

212,180.00 218,545.40 67,530.53
 7,315,625.93 7,315,625.93 7,315,625.93

-19,900,975.74 -23,061,092.34 -2,997,556.88 Aliran Kas

-123,603,445.49 -146,664,537.83 -149,662,094.71 Aliran Kas Kumulatif
NPV
IRR
PBP
Eskalasi Pendapatan 1% 66.40 67.06
Eskalasi Biaya Produksi 20% 66.40 82.07
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 8100000
0 1 2
Pemasukan 99,600,000.00 134,128,000.00
13.50% 13,446,000.00 18,107,280.00

Pendapatan Kotor 86,154,000.00 116,020,720.00

Biaya Produksi 92,264,880.00 126,607,435.20
Biaya Langsung 16,200,000.00 22,248,000.00
Biaya Umum dan Administrasi 2,448,000.00 3,361,920.00
Biaya Perbaikan 360,000.00 494,400.00
Depresiasi 7,315,625.93 7,315,625.93

Pendapatan Sebelum Pajak - -25,118,880.00 -36,691,035.20

Pajak dan Lisensi 150,000.00 206,000.00
Depresiasi 7,315,625.93 7,315,625.93
Modal Kerja -78,166,526.00

-78,166,526.00 -17,953,254.07 -29,581,409.27

Aliran Kas Kumulatif -78,166,526.00 -96,119,780.07 -125,701,189.35
-280,627,593.91
Err:523
-

Eskalasi Pendapatan 1% 66.40 67.06

Eskalasi Biaya Produksi 0% 66.40 68.39
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 8100000
0 1 2
Pemasukan 99,600,000.00 134,128,000.00
13.50% 13,446,000.00 18,107,280.00

Pendapatan Kotor 86,154,000.00 116,020,720.00

Biaya Produksi 76,887,400.00 105,506,196.00
Biaya Langsung 13,500,000.00 18,540,000.00
Biaya Umum dan Administrasi 2,040,000.00 2,801,600.00
Biaya Perbaikan 300,000.00 412,000.00
Depresiasi 7,315,625.93 7,315,625.93

Pendapatan Sebelum Pajak - -6,573,400.00 -11,239,076.00

Pajak dan Lisensi 150,000.00 206,000.00
 Depresiasi 7,315,625.93 7,315,625.93
Modal Kerja -78,166,526.00

-78,166,526.00 592,225.93 -4,129,450.07

Aliran Kas Kumulatif -78,166,526.00 -77,574,300.07 -81,703,750.15
-175,029,647.51
Err:523
-
 67.73 68.41 69.10 Eskalasi Pendapatan
84.53 87.07 89.68 Eskalasi Biaya Produksi
Aliran Kas Modal Sendiri
2000000 2000000 600000 Produksi Batubara (Ton)
8100000 Total Produksi Batubara (Ton)
3 4 5 Tahun
135,469,280.00 136,823,972.80 41,457,663.76 Pemasukan
18,288,352.80 18,471,236.33 5,596,784.61 Royalty

117,180,927.20 118,352,736.47 35,860,879.15 Pendapatan Kotor

130,405,658.26 134,317,828.00 41,740,565.70
22,915,440.00 23,602,903.20 7,293,297.09
3,462,777.60 3,566,660.93 1,102,098.23
509,232.00 524,508.96 162,073.27
7,315,625.93 7,315,625.93 7,315,625.93

-40,112,180.66 -43,659,164.62 -14,437,155.14 Pendapatan Sebelum Pajak

212,180.00 218,545.40 67,530.53
7,315,625.93 7,315,625.93 7,315,625.93

-33,008,734.73 -36,562,084.09 -7,189,059.74 Aliran Kas

-158,709,924.08 -195,272,008.17 -202,461,067.91 Aliran Kas Kumulatif
NPV
IRR
PBP

67.73 68.41 69.10

70.44 72.56 74.73

2000000 2000000 600000

8100000
3 4 5
135,469,280.00 136,823,972.80 41,457,663.76
18,288,352.80 18,471,236.33 5,596,784.61

117,180,927.20 118,352,736.47 35,860,879.15

108,671,381.88 111,931,523.34 34,783,804.75
19,096,200.00 19,669,086.00 6,077,747.57
2,885,648.00 2,972,217.44 918,415.19
424,360.00 437,090.80 135,061.06
7,315,625.93 7,315,625.93 7,315,625.93

-13,896,662.68 -16,657,181.10 -6,054,149.42

212,180.00 218,545.40 67,530.53
 7,315,625.93 7,315,625.93 7,315,625.93

-6,793,216.75 -9,560,100.58 1,193,945.98

-88,496,966.90 -98,057,067.48 -96,863,121.51
Eskalasi Pendapatan 1% 66.40 67.06
Eskalasi Biaya Produksi 15% 66.40 78.65
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 8100000
0 1 2
Pemasukan 99,600,000.00 134,128,000.00
13.50% 13,446,000.00 18,107,280.00

Pendapatan Kotor 86,154,000.00 116,020,720.00

Biaya Produksi 88,420,510.00 121,332,125.40
Biaya Langsung 15,525,000.00 21,321,000.00
Biaya Umum dan Administrasi 2,346,000.00 3,221,840.00
Biaya Perbaikan 345,000.00 473,800.00
Depresiasi 7,315,625.93 7,315,625.93

Pendapatan Sebelum Pajak - -20,482,510.00 -30,328,045.40

Pajak dan Lisensi 150,000.00 206,000.00
Depresiasi 7,315,625.93 7,315,625.93
Modal Kerja -78,166,526.00

-78,166,526.00 -13,316,884.07 -23,218,419.47

Aliran Kas Kumulatif -78,166,526.00 -91,483,410.07 -114,701,829.55
-254,228,107.31
Err:523
-
 67.73 68.41 69.10
81.01 83.44 85.94

2000000 2000000 600000

8100000
3 4 5
135,469,280.00 136,823,972.80 41,457,663.76
18,288,352.80 18,471,236.33 5,596,784.61

117,180,927.20 118,352,736.47 35,860,879.15

124,972,089.16 128,721,251.84 40,001,375.47
21,960,630.00 22,619,448.90 6,989,409.71
3,318,495.20 3,418,050.06 1,056,177.47
488,014.00 502,654.42 155,320.22
7,315,625.93 7,315,625.93 7,315,625.93

-33,558,301.16 -36,908,668.74 -12,341,403.71

212,180.00 218,545.40 67,530.53
7,315,625.93 7,315,625.93 7,315,625.93

-26,454,855.24 -29,811,588.21 -5,093,308.31

-141,156,684.78 -170,968,273.00 -176,061,581.31
Eskalasi Pendapatan 1% 66.40 67.06
Penurunan Biaya Produksi -10% 66.40 61.55
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 810000
Tahun 0 1 2
Pemasukan 99,600,000.00 134,128,000.00
Royalty 13.50% 13,446,000.00 18,107,280.00

Pendapatan Kotor 86,154,000.00 116,020,720.00

DIRECT COST 69,198,660.00 94,955,576.40
INDIRECT COST 12,150,000.00 16,686,000.00
GENERAL & ADM. COST 1,836,000.00 2,521,440.00
Biaya Perbaikan 270,000.00 370,800.00
Depresiasi 7,315,625.93 7,315,625.93

Pendapatan Sebelum Pajak - 2,699,340.00 1,486,903.60

Pajak dan Lisensi 150,000.00 206,000.00
Depresiasi 7,315,625.93 7,315,625.93
Modal Kerja -78,166,526.00

Aliran Kas -78,166,526.00 9,864,965.93 8,596,529.53

Aliran Kas Kumulatif -78,166,526.00 -68,301,560.07 -59,705,030.55
NPV -122,230,674.30
IRR Err:523
PBP -

Eskalasi Pendapatan 1% 66.40 67.06

Eskalasi Biaya Produksi -25% 66.40 51.29
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 810000
Tahun 0 1 2
Pemasukan 99,600,000.00 134,128,000.00
Royalty 13.50% 13,446,000.00 18,107,280.00

Pendapatan Kotor 86,154,000.00 116,020,720.00

DIRECT COST 57,665,550.00 79,129,647.00
INDIRECT COST 10,125,000.00 14,322,150.00
GENERAL & ADM. COST 1,530,000.00 2,101,200.00
Biaya Perbaikan 225,000.00 309,000.00
Depresiasi 7,315,625.93 7,315,625.93

Pendapatan Sebelum Pajak - 16,608,450.00 20,158,723.00

Pajak dan Lisensi 150,000.00 206,000.00
 Depresiasi 3,498,366.67 3,498,366.67
Modal Kerja -78,166,526.00

Aliran Kas -78,166,526.00 19,956,816.67 23,451,089.67

Aliran Kas Kumulatif -78,166,526.00 -58,209,709.33 -34,758,619.66
NPV -62,535,660.78
IRR -44%
PBP 4
 67.73 68.41 69.10 Eskalasi Pendapatan
63.40 65.30 67.26 Penurunan Biaya Produksi
Aliran Kas Modal Sendiri
2000000 2000000 600000 Produksi Batubara (Ton)
8100000 Total Produksi Batubara (Ton)
3 4 5 Tahun
135,469,280.00 136,823,972.80 41,457,663.76 Pemasukan
18,288,352.80 18,471,236.33 5,596,784.61 Royalty

117,180,927.20 118,352,736.47 35,860,879.15 Pendapatan Kotor

97,804,243.69 100,738,371.00 31,305,424.28
17,186,580.00 17,702,177.40 5,469,972.82
2,597,083.20 2,674,995.70 826,573.67
381,924.00 393,381.72 121,554.95
7,315,625.93 7,315,625.93 7,315,625.93

-788,903.69 -3,156,189.35 -1,862,646.56 Pendapatan Sebelum Pajak

212,180.00 218,545.40 67,530.53
7,315,625.93 7,315,625.93 7,315,625.93

6,314,542.23 3,940,891.18 5,385,448.83 Aliran Kas

-53,390,488.31 -49,449,597.14 -44,064,148.30 Aliran Kas Kumulatif
NPV
IRR
PBP

67.73 68.41 69.10

52.83 54.42 56.05

2000000 2000000 600000

8100000
3 4 5
135,469,280.00 136,823,972.80 41,457,663.76
18,288,352.80 18,471,236.33 5,596,784.61

117,180,927.20 118,352,736.47 35,860,879.15

81,503,536.41 83,948,642.50 26,087,853.56
14,322,150.00 14,751,814.50 4,558,310.68
2,164,236.00 2,229,163.08 688,811.39
318,270.00 327,818.10 101,295.79
7,315,625.93 7,315,625.93 7,315,625.93

18,872,734.79 17,095,298.29 4,424,607.72

212,180.00 218,545.40 67,530.53
 3,498,366.67 3,498,366.67 3,498,366.67

22,158,921.46 20,375,119.56 7,855,443.86

-12,599,698.20 7,775,421.36 15,630,865.22
Eskalasi Pendapatan 1% 66.40 67.06
Penurunan Biaya Produksi -15% 66.40 58.13
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 8100000
0 1 2
Pemasukan 99,600,000.00 134,128,000.00
13.50% 13,446,000.00 18,107,280.00

Pendapatan Kotor 86,154,000.00 116,020,720.00

DIRECT COST 65,354,290.00 89,680,266.60
INDIRECT COST 11,475,000.00 15,759,000.00
GENERAL & ADM. COST 1,734,000.00 2,381,360.00
Biaya Perbaikan 255,000.00 350,200.00
Depresiasi 7,315,625.93 7,315,625.93
biaya tereskalasi
Pendapatan Sebelum Pajak - 7,335,710.00 7,849,893.40
Pajak dan Lisensi 150,000.00 206,000.00
Depresiasi 7,315,625.93 7,315,625.93
Modal Kerja -78,166,526.00

-78,166,526.00 14,501,335.93 14,959,519.33

Aliran Kas Kumulatif -78,166,526.00 -63,665,190.07 -48,705,670.75
-95,831,187.70
Err:523
-
 67.73 68.41 69.10 Eskalasi Pendapatan
59.88 61.67 63.52 Sensitivitas Biaya Produksi
Aliran Kas Modal Sendiri
2000000 2000000 600000 Produksi Batubara (Ton)
8100000 Total Produksi Batubara (Ton)
3 4 5 Tahun
135,469,280.00 136,823,972.80 41,457,663.76 Pemasukan
18,288,352.80 18,471,236.33 5,596,784.61 Royalty

117,180,927.20 118,352,736.47 35,860,879.15 Pendapatan Kotor

92,370,674.60 95,141,794.84 29,566,234.04
16,231,770.00 16,718,723.10 5,166,085.44
2,452,800.80 2,526,384.82 780,652.91
360,706.00 371,527.18 114,801.90
7,315,625.93 7,315,625.93 7,315,625.93

5,764,975.80 3,594,306.53 233,104.86 Pendapatan Sebelum Pajak

212,180.00 218,545.40 67,530.53
7,315,625.93 7,315,625.93 7,315,625.93

12,868,421.73 10,691,387.06 7,481,200.26 Aliran Kas

-35,837,249.02 -25,145,861.96 -17,664,661.70 Aliran Kas Kumulatif
NPV
IRR
PBP
Eskalasi Pendapatan 1% 66.40 67.06
Sensitivitas Biaya Produksi -20% 66.40 54.71
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 8100000
0 1 2
Pemasukan 99,600,000.00 134,128,000.00
13.50% 13,446,000.00 18,107,280.00

Pendapatan Kotor 86,154,000.00 116,020,720.00

DIRECT COST 61,509,920.00 84,404,956.80
INDIRECT COST 10,800,000.00 14,832,000.00
GENERAL & ADM. COST 1,632,000.00 2,241,280.00
Biaya Perbaikan 240,000.00 329,600.00
Depresiasi 7,315,625.93 7,315,625.93

Pendapatan Sebelum Pajak - 11,972,080.00 14,212,883.20

Pajak dan Lisensi 150,000.00 206,000.00
Depresiasi 7,315,625.93 7,315,625.93
Modal Kerja -78,166,526.00

-78,166,526.00 19,137,705.93 21,322,509.13

Aliran Kas Kumulatif -78,166,526.00 -59,028,820.07 -37,706,310.95
-69,431,701.10
-59%
5
 67.73 68.41 69.10
84.53 58.05 59.79

2000000 2000000 600000

8100000
3 4 5
135,469,280.00 136,823,972.80 41,457,663.76
18,288,352.80 18,471,236.33 5,596,784.61

117,180,927.20 118,352,736.47 35,860,879.15

86,937,105.50 89,545,218.67 27,827,043.80
15,276,960.00 15,735,268.80 4,862,198.06
2,308,518.40 2,377,773.95 734,732.15
339,488.00 349,672.64 108,048.85
7,315,625.93 7,315,625.93 7,315,625.93

12,318,855.30 10,344,802.41 2,328,856.29

212,180.00 218,545.40 67,530.53
7,315,625.93 7,315,625.93 7,315,625.93

19,422,301.22 17,441,882.94 9,576,951.69

-18,284,009.73 -842,126.79 8,734,824.90
 Tabel perubahan terhadap harga
Harga batubara (USD) no Biaya
Perubahan Harga Hasil Direct cost
(+) 25% 66.4 83 Indirect cost
a
(+) 20% 66.4 79.68 Biaya Umum & Administrasi
(+) 15% 66.4 76.36 Biaya Perbaikan
(+) 10% 66.4 73.04
(+/-) 0% 66.4 66.4 (+)
b
(-) 10% 66.4 59.76 25%
(-) 15% 66.4 56.44
(-) 20% 66.4 53.12 Biaya Produksi
(-) 25% 66.4 49.8 Biaya Langsung
a+b
Biaya Umum & Administrasi
Biaya Perbaikan
Tabel 3.17. Sensitivitas Dikontra

no Biaya
Direct cost
Indirect cost
a
Biaya Umum & Administrasi
Biaya Perbaikan

(+)
b
20%

Biaya Produksi
Biaya Langsung
a+b
Biaya Umum & Administrasi
Biaya Perbaikan
Tabel 3.18. Sensitivitas Dikontra
 Tahun 1 Tahun 2 Tahun 3 Tahun 4 Tahun 5
213,679,000.00 293,366,660.00 302,167,659.80 311,232,689.59 96,359,669.67
13,650,000.00 18,746,000.00 19,308,380.00 19,887,631.40 6,145,278.10
1,110,000.00 1,524,400.00 1,570,132.00 1,617,235.96 499,725.91
300,000.00 412,000.00 424,360.00 437,090.80 135,061.06
53,419,750.00 73,341,665.00 75,541,914.95 77,808,172.40 24,089,917.42
3,412,500.00 4,686,500.00 4,827,095.00 4,971,907.85 1,536,319.53
277,500.00 381,100.00 392,533.00 404,308.99 124,931.48
75,000.00 103,000.00 106,090.00 109,272.70 33,765.26
267,098,750.00 366,708,325.00 377,709,574.75 389,040,861.99 120,449,587.09
17,062,500.00 23,432,500.00 24,135,475.00 24,859,539.25 7,681,597.63
1,387,500.00 1,905,500.00 1,962,665.00 2,021,544.95 624,657.39
375,000.00 515,000.00 530,450.00 546,363.50 168,826.32
Tabel 3.17. Sensitivitas Dikontrakkan Dengan Eskalasi 25%

Tahun 1 Tahun 2 Tahun 3 Tahun 4 Tahun 5

213,679,000.00 293,366,660.00 302,167,659.80 311,232,689.59 96,359,669.67
13,650,000.00 18,746,000.00 19,308,380.00 19,887,631.40 6,145,278.10
1,110,000.00 1,524,400.00 1,570,132.00 1,617,235.96 499,725.91
300,000.00 412,000.00 424,360.00 437,090.80 135,061.06
42,735,800.00 58,673,332.00 60,433,531.96 62,246,537.92 19,271,933.93
2,730,000.00 3,749,200.00 3,861,676.00 3,977,526.28 1,229,055.62
222,000.00 304,880.00 314,026.40 323,447.19 99,945.18
60,000.00 82,400.00 84,872.00 87,418.16 27,012.21
256,414,800.00 352,039,992.00 362,601,191.76 373,479,227.51 115,631,603.61
16,380,000.00 22,495,200.00 23,170,056.00 23,865,157.68 7,374,333.72
1,332,000.00 1,829,280.00 1,884,158.40 1,940,683.15 599,671.09
360,000.00 494,400.00 509,232.00 524,508.96 162,073.27
Tabel 3.18. Sensitivitas Dikontrakkan Dengan Eskalasi 20%
no Biaya Tahun 1 Tahun 2 Tahun 3
Biaya Produksi 213,679,000.00 293,366,660.00 302,167,659.80
Biaya Langsung 13,650,000.00 18,746,000.00 19,308,380.00
a
Biaya Umum & Administrasi 1,110,000.00 1,524,400.00 1,570,132.00
Biaya Perbaikan 300,000.00 412,000.00 424,360.00
32,051,850.00 44,004,999.00 45,325,148.97
(+) 2,047,500.00 2,811,900.00 2,896,257.00
b
15% 166,500.00 228,660.00 235,519.80
45,000.00 61,800.00 63,654.00
Biaya Produksi 245,730,850.00 337,371,659.00 347,492,808.77
Biaya Langsung 15,697,500.00 21,557,900.00 22,204,637.00
a+b
Biaya Umum & Administrasi 1,276,500.00 1,753,060.00 1,805,651.80
Biaya Perbaikan 345,000.00
Tabel 3.19. Sensitivitas 473,800.00
Dikontrakkan 488,014.0015%
Dengan Eskalasi
Tabel 3.19. Sensitivitas Dikontrakkan Dengan Eskalasi 15

no Biaya Tahun 1 Tahun 2 Tahun 3

Biaya Produksi 213,679,000.00 293,366,660.00 302,167,659.80
Biaya Langsung 13,650,000.00 18,746,000.00 19,308,380.00
a
Biaya Umum & Administrasi 1,110,000.00 1,524,400.00 1,570,132.00
Biaya Perbaikan 300,000.00 412,000.00 424,360.00
21,367,900.00 29,336,666.00 30,216,765.98
(+) 1,365,000.00 1,874,600.00 1,930,838.00
b
10% 111,000.00 152,440.00 157,013.20
30,000.00 41,200.00 42,436.00
Biaya Produksi 235,046,900.00 322,703,326.00 332,384,425.78
Biaya Langsung 15,015,000.00 20,620,600.00 21,239,218.00
a+b
Biaya Umum & Administrasi 1,221,000.00 1,676,840.00 1,727,145.20
Biaya Perbaikan 330,000.00
Tabel 3.20. Sensitivitas 453,200.00
Dikontrakkan 466,796.0010%
Dengan Eskalasi
Tabel 3.19. Sensitivitas Dikontrakkan Dengan Eskalasi 15
 Tahun 4 Tahun 5 no Biaya Tahun 1
311,232,689.59 96,359,669.67 Biaya Produksi 213,679,000.00
19,887,631.40 6,145,278.10 Biaya Langsung 13,650,000.00
a
1,617,235.96 499,725.91 Biaya Umum & Administrasi 1,110,000.00
437,090.80 135,061.06 Biaya Perbaikan 300,000.00
46,684,903.44 14,453,950.45 0.00
2,983,144.71 921,791.72 (+) 0.00
b
242,585.39 74,958.89 0% 0.00
65,563.62 20,259.16 0.00
357,917,593.03 110,813,620.12 Biaya Produksi 213,679,000.00
22,870,776.11 7,067,069.82 Biaya Langsung 13,650,000.00
a+b
1,859,821.35 574,684.80 Biaya Umum & Administrasi 1,110,000.00
Eskalasi 15% 502,654.42 155,320.22 Biaya Perbaikan 300,000.00
Tabel 3.20. Sensitivitas Dikontrakkan Den
skalasi 15 Tabel 3.19. Sensitivitas Dikontrakkan Den
Tabel perubahan terhadap biaya (-) 10
Tahun 4 Tahun 5 no Biaya Tahun 1
311,232,689.59 96,359,669.67 Biaya Produksi 213,679,000.00
19,887,631.40 6,145,278.10 Biaya Langsung 13,650,000.00
a
1,617,235.96 499,725.91 Biaya Umum & Administrasi 1,110,000.00
437,090.80 135,061.06 Biaya Perbaikan 300,000.00
31,123,268.96 9,635,966.97 -21,367,900.00
1,988,763.14 614,527.81 (+) -1,365,000.00
b
161,723.60 49,972.59 -10% -111,000.00
43,709.08 13,506.11 -30,000.00
342,355,958.55 105,995,636.64 Biaya Produksi 192,311,100.00
21,876,394.54 6,759,805.91 Biaya Langsung 12,285,000.00
a+b
1,778,959.56 549,698.50 Biaya Umum & Administrasi 999,000.00
Eskalasi 10% 480,799.88 148,567.16 Biaya Perbaikan 270,000.00
Tabel 3.21. Sensitivitas Dikontrakkan Deng
skalasi 15 Tabel 3.19. Sensitivitas Dikontrakkan Den
 Tahun 2 Tahun 3 Tahun 4 Tahun 5
293,366,660.00 302,167,659.80 311,232,689.59 96,359,669.67
18,746,000.00 19,308,380.00 19,887,631.40 6,145,278.10
1,524,400.00 1,570,132.00 1,617,235.96 499,725.91
412,000.00 424,360.00 437,090.80 135,061.06
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
293,366,660.00 302,167,659.80 311,232,689.59 96,359,669.67
18,746,000.00 19,308,380.00 19,887,631.40 6,145,278.10
1,524,400.00 1,570,132.00 1,617,235.96 499,725.91
412,000.00
sitivitas Dikontrakkan 424,360.00
Dengan Eskalasi 15% 437,090.80 135,061.06
Sensitivitas Dikontrakkan Dengan Eskalasi 15

Tahun 2 Tahun 3 Tahun 4 Tahun 5

293,366,660.00 302,167,659.80 311,232,689.59 96,359,669.67
18,746,000.00 19,308,380.00 19,887,631.40 6,145,278.10
1,524,400.00 1,570,132.00 1,617,235.96 499,725.91
412,000.00 424,360.00 437,090.80 135,061.06
-29,336,666.00 -30,216,765.98 -31,123,268.96 -9,635,966.97
-1,874,600.00 -1,930,838.00 -1,988,763.14 -614,527.81
-152,440.00 -157,013.20 -161,723.60 -49,972.59
-41,200.00 -42,436.00 -43,709.08 -13,506.11
264,029,994.00 271,950,893.82 280,109,420.63 86,723,702.71
16,871,400.00 17,377,542.00 17,898,868.26 5,530,750.29
1,371,960.00 1,413,118.80 1,455,512.36 449,753.32
tivitas Dikontrakkan370,800.00 381,924.0010% 393,381.72
Dengan Penurunan 121,554.95
Sensitivitas Dikontrakkan Dengan Eskalasi 15
 Tabel perubahan terhadap biaya (-) 15
no Biaya Tahun 1 Tahun 2 Tahun 3
Biaya Produksi 213,679,000.00 293,366,660.00 302,167,659.80
Biaya Langsung 13,650,000.00 18,746,000.00 19,308,380.00
a
Biaya Umum & Administrasi 1,110,000.00 1,524,400.00 1,570,132.00
Biaya Perbaikan 300,000.00 412,000.00 424,360.00
-32,051,850.00 -44,004,999.00 -45,325,148.97
(+) -2,047,500.00 -2,811,900.00 -2,896,257.00
b
-15% -166,500.00 -228,660.00 -235,519.80
-45,000.00 -61,800.00 -63,654.00
Biaya Produksi 181,627,150.00 249,361,661.00 256,842,510.83
Biaya Langsung 11,602,500.00 15,934,100.00 16,412,123.00
a+b
Biaya Umum & Administrasi 943,500.00 1,295,740.00 1,334,612.20
Biaya Perbaikan 255,000.00
Tabel 3.22. Sensitivitas 350,200.00
Dikontrakkan 360,706.00 15%
Dengan Penurunan
Tabel 3.19. Sensitivitas Dikontrakkan Dengan Eskalasi 15
Tabel perubahan terhadap biaya
 Tabel perubahan terhadap biaya
Tahun 4 Tahun 5 no Biaya
311,232,689.59 96,359,669.67 Biaya Produksi
19,887,631.40 6,145,278.10 Biaya Langsung
a
1,617,235.96 499,725.91 Biaya Umum & Administrasi
437,090.80 135,061.06 Biaya Perbaikan
-46,684,903.44 -14,453,950.45
-2,983,144.71 -921,791.72 (+)
b
-242,585.39 -74,958.89 -20%
-65,563.62 -20,259.16
264,547,786.15 81,905,719.22 Biaya Produksi
16,904,486.69 5,223,486.39 Biaya Langsung
a+b
1,374,650.57 424,767.02 Biaya Umum & Administrasi
enurunan 15% 371,527.18 114,801.90 Biaya Perbaikan Tabel 3.23. Sensitivitas Dikontrakkan
kalasi 15 Tabel 3.19. Sensitivitas Dikontrakk
Tabel perubahan terhadap biaya
no Biaya
a Biaya Produksi
Biaya Langsung
Biaya Umum & Administrasi
Biaya Perbaikan
b
(+)
-25%

a+b Biaya Produksi

Biaya Langsung
Biaya Umum & Administrasi
Biaya Perbaikan Tabel 3.24. Sensitivitas Dikontrakkan
Tabel 3.19. Sensitivitas Dikontrakk
 (-) 20
Tahun 1 Tahun 2 Tahun 3 Tahun 4 Tahun 5
213,679,000.00 293,366,660.00 302,167,659.80 311,232,689.59 96,359,669.67
13,650,000.00 18,746,000.00 19,308,380.00 19,887,631.40 6,145,278.10
1,110,000.00 1,524,400.00 1,570,132.00 1,617,235.96 499,725.91
300,000.00 412,000.00 424,360.00 437,090.80 135,061.06
-42,735,800.00 -58,673,332.00 -60,433,531.96 -62,246,537.92 -19,271,933.93
-2,730,000.00 -3,749,200.00 -3,861,676.00 -3,977,526.28 -1,229,055.62
-222,000.00 -304,880.00 -314,026.40 -323,447.19 -99,945.18
-60,000.00 -82,400.00 -84,872.00 -87,418.16 -27,012.21
170,943,200.00 234,693,328.00 241,734,127.84 248,986,151.68 77,087,735.74
10,920,000.00 14,996,800.00 15,446,704.00 15,910,105.12 4,916,222.48
888,000.00 1,219,520.00 1,256,105.60 1,293,788.77 399,780.73
240,000.00
23. Sensitivitas Dikontrakkan 329,600.00
Dengan Penurunan 339,488.00
20% 349,672.64 108,048.85
abel 3.19. Sensitivitas Dikontrakkan Dengan Eskalasi 15

Tahun 1 Tahun 2 Tahun 3 Tahun 4 Tahun 5

213,679,000.00 293,366,660.00 302,167,659.80 311,232,689.59 96,359,669.67
13,650,000.00 18,746,000.00 19,308,380.00 19,887,631.40 6,145,278.10
1,110,000.00 1,524,400.00 1,570,132.00 1,617,235.96 499,725.91
300,000.00 412,000.00 424,360.00 437,090.80 135,061.06
-53,419,750.00 -73,341,665.00 -75,541,914.95 -77,808,172.40 -24,089,917.42
-3,412,500.00 -4,686,500.00 -4,827,095.00 -4,971,907.85 -1,536,319.53
-277,500.00 -381,100.00 -392,533.00 -404,308.99 -124,931.48
-75,000.00 -103,000.00 -106,090.00 -109,272.70 -33,765.26
160,259,250.00 220,024,995.00 226,625,744.85 233,424,517.20 72,269,752.26
10,237,500.00 14,059,500.00 14,481,285.00 14,915,723.55 4,608,958.58
832,500.00 1,143,300.00 1,177,599.00 1,212,926.97 374,794.43
225,000.00
24. Sensitivitas Dikontrakkan 309,000.00
Dengan Penurunan 318,270.00
25% 327,818.10 101,295.79
abel 3.19. Sensitivitas Dikontrakkan Dengan Eskalasi 15
 Eskalasi Pendapatan 1% 66.40 67.06
Eskalasi Biaya Produksi -25% 66.40 51.29
Aliran Kas Modal Dikontrakan
Produksi Batubara (Ton) 1,500,000.00 2,000,000.00
Total Produksi Batubara (Ton) 9,500,000.00
Tahun 0.00 1.00 2.00
Pemasukan 99,600,000.00 132,800,000.00
Royalty 0.14 13,446,000.00 17,928,000.00

Pendapatan Kotor 86,154,000.00 114,872,000.00

Biaya Produksi 160,259,250.00 220,024,995.00
Biaya Langsung 10,237,500.00 14,059,500.00
Biaya Umum dan Administrasi 832,500.00 1,143,300.00
Biaya Perbaikan 225,000.00 309,000.00
Depresiasi 7,315,625.93 7,315,625.93
bunga pinjaman 4.75% 3,863,416.87 2,352,065.05
Pendapatan Sebelum Pajak -89,263,666.87 -123,016,860.05
Pajak dan Lisensi 150,000.00 206,000.00
Depresiasi 7,315,625.93 7,315,625.93
pendapatan setelah pajak -82,098,040.94 -115,907,234.12
pengembalian pinjaman -2.88 -6.61
Modal Kerja 81,335,092.00
Aliran Kas -81,335,092.00 -82,098,038.07 -115,907,227.51
Aliran Kas Kumulatif -81,335,092.00 -163,433,130.07 -279,340,357.58
NPV -594,284,216.20
IRR Err:523
PBP -

Eskalasi Pendapatan 1% 66.40 67.06

Eskalasi Biaya Produksi -10% 66.40 61.55
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 9500000
Tahun 0 1 2
Pemasukan 99,600,000.00 132,800,000.00
Royalty 13.50% 13,446,000.00 17,928,000.00

Pendapatan Kotor 86,154,000 114,872,000.00

Biaya Produksi 192,311,100 264,029,994.00
Biaya Langsung 12,285,000 16,871,400.00
Biaya Umum dan Administrasi 999,000 1,371,960.00
Biaya Perbaikan 270,000 370,800.00
Depresiasi 7,315,626 7,315,625.93
bunga pinjaman 4.75% 3,863,416.87 2,352,065.05
Pendapatan Sebelum Pajak -123,574,517 -170,124,219
Pajak dan Lisensi 150,000 206,000
Depresiasi 7,315,625.93 7,315,625.93
Modal Kerja - 81,335,092
Pengembalian pinjaman -3 -7
Aliran Kas -81,335,092 -116,408,888.07 -163,014,586.51
Aliran Kas Kumulatif -81,335,092 -197,743,980 -360,758,567
NPV -789,670,162.34
IRR Err:523
PBP -
 67.73 68.41 69.10 Eskalasi Pendapatan
52.83 54.42 56.05 Eskalasi Biaya Produksi
akan
2,000,000.00 2,000,000.00 2,000,000.00 Produksi Batubara (Ton)
9,500,000.00 Total Produksi Batubara (Ton)
3.00 4.00 5.00 Tahun
132,800,000.00 132,800,000.00 132,800,000.00 Pemasukan
17,928,000.00 17,928,000.00 17,928,000.00 Royalty

114,872,000.00 114,872,000.00 114,872,000.00 Pendapatan Kotor

226,625,744.85 233,424,517.20 72,269,752.26 Biaya Produksi
14,481,285.00 14,915,723.55 4,608,958.58 Biaya Langsung
1,177,599.00 1,212,926.97 374,794.43 Biaya Umum dan Administrasi
318,270.00 327,818.10 101,295.79 Biaya Perbaikan
7,315,625.93 7,315,625.93 7,315,625.93 Depresiasi
1,683,473.10 1,014,881.15 346,289.20 bunga pinjaman 4.75%
-129,414,371.95 -136,023,866.97 37,170,909.74 Pendapatan Sebelum Pajak
212,180.00 218,545.40 67,530.53 Pajak dan Lisensi
7,315,625.93 7,315,625.93 7,315,625.93 Depresiasi
-122,310,926.02 -128,926,786.44 44,419,005.14
-10.35 13,060,738.85 13,729,330.80 Modal Kerja
Pengembalian pinjaman
-122,310,915.67 -141,987,525.29 30,689,674.34 Aliran Kas
-401,651,273.25 -543,638,798.54 -512,949,124.20 Aliran Kas Kumulatif
NPV
IRR
PBP

67.73 68.41 69.10 Eskalasi Pendapatan

63.40 65.30 67.26 Eskalasi Biaya Produksi
ri
2000000 2000000 2000000 Produksi Batubara (Ton)
9500000 Total Produksi Batubara (Ton)
3 4 5 Tahun
132,800,000.00 132,800,000.00 132,800,000.00 Pemasukan
17,928,000.00 17,928,000.00 17,928,000.00 Royalty

114,872,000.00 114,872,000.00 114,872,000.00 Pendapatan Kotor

271,950,894 280,109,420.63 86,723,703 Biaya Produksi
17,377,542.00 17,898,868.26 5,530,750.29 Biaya Langsung
1,413,118.80 1,455,512.36 449,753.32 Biaya Umum dan Administrasi
381,924.00 393,381.72 121,554.95 Biaya Perbaikan
7,315,626 7,315,625.93 7,315,626 Depresiasi
1,683,473.10 1,014,881.15 346,289.20 bunga pinjaman 4.75%
-177,934,952 -186,000,064 21,699,950 Pendapatan Sebelum Pajak
 212,180 218,545 67,531 Pajak dan Lisensi
7,315,625.93 7,315,625.93 7,315,625.93 Depresiasi
Modal Kerja
-10 13,060,739 13,729,331 Pengembalian pinjaman
-170,831,495.44 -191,963,722.45 15,218,714.13 Aliran Kas
-531,590,062 -723,553,784 -708,335,070 Aliran Kas Kumulatif
NPV
IRR
PBP
Pendapatan 1% 66.40 67.06 67.73 68.41
aya Produksi -20% 66.40 54.71 84.53 58.05
Aliran Kas Modal Sendiri
atubara (Ton) 1,500,000.00 2,000,000.00
2,000,000.00 2,000,000.00
Batubara (Ton) 9,500,000.00
hun 0.00 1.00 2.00 3.00 4.00
99,600,000.00 132,800,000.00 132,800,000.00 132,800,000.00
0.14 13,446,000.00 17,928,000.00 17,928,000.00 17,928,000.00

86,154,000.00 114,872,000.00 114,872,000.00 114,872,000.00

170,943,200.00 234,693,328.00 241,734,127.84 248,986,151.68
10,920,000.00 14,996,800.00 15,446,704.00 15,910,105.12
888,000.00 1,219,520.00 1,256,105.60 1,293,788.77
240,000.00 329,600.00 339,488.00 349,672.64
7,315,625.93 7,315,625.93 7,315,625.93 7,315,625.93
3,863,416.87 2,352,065.05 1,683,473.10 1,014,881.15
Sebelum Pajak -100,700,616.87 -138,719,313.05 -145,587,898.54 -152,682,599.35
150,000.00 206,000.00 212,180.00 218,545.40
7,315,625.93 7,315,625.93 7,315,625.93 7,315,625.93

- 81,335,092.00
-2.88 -6.61 -10.35 13,060,738.85
-81,335,092.00 -93,534,988.07 -131,609,680.51 -138,484,442.26 -158,646,257.67
-81,335,092.00 -174,870,080.07 -306,479,760.58 -444,964,202.84 -603,610,460.52
NPV -659,412,864.91
RR Err:523
BP -

Pendapatan 0% 66.4
aya Produksi 3% 68.392
Aliran Kas Modal Sendiri
atubara (Ton) 1500000 2000000 2000000 2000000
Batubara (Ton) 9500000
hun 0 1 2 3 4
99,600,000.00 132,800,000.00 132,800,000.00 132,800,000.00
13.50% 13,446,000.00 17,928,000.00 17,928,000.00 17,928,000.00

86,154,000 114,872,000.00 114,872,000.00 114,872,000.00

192,311,100 264,029,994.00 271,950,894 280,109,420.63
13,650,000 18,200,000.00 18,200,000.00 18,200,000.00
1,110,000 1,480,000.00 1,480,000.00 1,480,000.00
105,000 140,000.00 140,000.00 140,000.00
3,498,367 3,498,366.67 3,498,366.67 3,498,366.67
3,863,416.87 2,352,065.05 1,683,473.10 1,014,881.15
Sebelum Pajak -124,885,517 -171,330,059 -178,582,367 -186,072,302
 150,000 200,000 200,000 200,000
3,498,366.67 3,498,366.67 3,498,366.67 3,498,366.67
- 81,335,092
-3 -7 -10 13,060,739
-81,335,092 -121,537,147.32 -168,031,685.77 -175,283,989.90 -195,834,673.96
-81,335,092 -202,872,239 -370,903,925 -546,187,915 -742,022,589
NPV -812,088,695.55
RR Err:523
BP -
 69.10 Eskalasi Pendapatan 1% 66.40
59.79 Eskalasi Biaya Produksi -15% 66.40
Aliran Kas Modal Sendiri
2,000,000.00 Produksi Batubara (Ton) 1,500,000.00
Total Produksi Batubara (Ton)
5.00 Tahun 0.00 1.00
132,800,000.00 Pemasukan 99,600,000.00
17,928,000.00 Royalty 0.14 13,446,000.00

114,872,000.00 Pendapatan Kotor 86,154,000.00

77,087,735.74 Biaya Produksi 181,627,150.00
4,916,222.48 Biaya Langsung 11,602,500.00
399,780.73 Biaya Umum dan Administrasi 943,500.00
108,048.85 Biaya Perbaikan 255,000.00
7,315,625.93 Depresiasi 7,315,625.93
346,289.20 bunga pinjaman 4.75% 3,863,416.87
32,013,923.00 Pendapatan Sebelum Pajak -112,137,566.87
67,530.53 Pajak dan Lisensi 150,000.00
7,315,625.93 Depresiasi 7,315,625.93

Modal Kerja - 81,335,092.00

13,729,330.80 Pengembalian pinjaman -2.88
25,532,687.60 Aliran Kas -81,335,092.00 -104,971,938.07
-578,077,772.91 Aliran Kas Kumulatif -81,335,092.00 -186,307,030.07
NPV -724,541,513.63
IRR Err:523
PBP -

2000000

5
132,800,000.00
17,928,000.00

114,872,000.00
86,723,703
5,530,750.29
449,753.32
121,554.95
7,315,625.93
346,289.20
21,699,950
 200,000
3,498,366.67

13,729,331
11,268,985.40
-730,753,604
 67.06 67.73 68.41 69.10
58.13 59.88 61.67 63.52
n Kas Modal Sendiri
2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00
9,500,000.00
2.00 3.00 4.00 5.00
132,800,000.00 132,800,000.00 132,800,000.00 132,800,000.00
17,928,000.00 17,928,000.00 17,928,000.00 17,928,000.00

114,872,000.00 114,872,000.00 114,872,000.00 114,872,000.00

249,361,661.00 256,842,510.83 264,547,786.15 81,905,719.22
15,934,100.00 16,412,123.00 16,904,486.69 5,223,486.39
1,295,740.00 1,334,612.20 1,374,650.57 424,767.02
350,200.00 360,706.00 371,527.18 114,801.90
7,315,625.93 7,315,625.93 7,315,625.93 7,315,625.93
2,352,065.05 1,683,473.10 1,014,881.15 346,289.20
-154,421,766.05 -161,761,425.13 -169,341,331.74 26,856,936.27
206,000.00 212,180.00 218,545.40 67,530.53
7,315,625.93 7,315,625.93 7,315,625.93 7,315,625.93

-6.61 -10.35 13,060,738.85 13,729,330.80

-147,312,133.51 -154,657,968.85 -175,304,990.06 20,375,700.87
-333,619,163.58 -488,277,132.43 -663,582,122.50 -643,206,421.63
 Eskalasi Pendapatan 1% 66.40 67.06
Eskalasi Biaya Produksi 10% 66.40 75.23
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 8100000
Tahun 0 1 2
Pemasukan 99,600,000.00 132,800,000.00
Royalty 13.50% 13,446,000.00 17,928,000.00

Pendapatan Kotor 86,154,000 114,872,000.00

Biaya Produksi 235,046,900 322,703,326.00
Biaya Langsung 15,015,000 20,620,600.00
Biaya Umum dan Administrasi 1,221,000 1,676,840.00
Biaya Perbaikan 330,000 453,200.00
Depresiasi 7,315,626 7,315,625.93
bunga pinjaman 4.75% 3,863,416.87 2,352,065.05
Pendapatan Sebelum Pajak -169,322,317 -232,934,031
Pajak dan Lisensi 150,000 206,000
Depresiasi 7,315,625.93 7,315,625.93
Modal Kerja - 81,335,092
Pengembalian pinjaman -3 -7
Aliran Kas -81,335,092 -162,156,688.07 -225,824,398.51
Aliran Kas Kumulatif -81,335,092 -243,491,780 -469,316,179
NPV -1,130,595,157.20
IRR Err:523
PBP -

Eskalasi Pendapatan 1% 66.40 67.06

Eskalasi Biaya Produksi 25% 66.40 85.49
Aliran Kas Modal Sendiri
Produksi Batubara (Ton) 1500000 2000000
Total Produksi Batubara (Ton) 8100000
Tahun 0 1 2
Pemasukan 99,600,000.00 132,800,000.00
Royalty 13.50% 13,446,000.00 17,928,000.00

Pendapatan Kotor 86,154,000 114,872,000.00

Biaya Produksi 267,098,750 366,708,325.00
Biaya Langsung 17,062,500 23,432,500.00
Biaya Umum dan Administrasi 1,387,500 1,905,500.00
Biaya Perbaikan 375,000 515,000.00
Depresiasi 7,315,626 7,315,625.93
bunga pinjaman 4.75% 3,863,416.87 2,352,065.05
Pendapatan Sebelum Pajak -203,633,167 -280,041,390
Pajak dan Lisensi 150,000 206,000
Depresiasi 7,315,625.93 7,315,625.93
Modal Kerja - 81,335,092
Pengembalian pinjaman -3 -7
Aliran Kas -81,335,092 -196,467,538.07 -272,931,757.51
Aliran Kas Kumulatif -81,335,092 -277,802,630 -550,734,388
NPV -1,325,981,103.35
IRR Err:523
PBP -
 67.73 68.41 69.10
77.49 79.81 82.21
diri Eskalasi Pendapatan
2000000 2000000 600000 Eskalasi Biaya Produksi
8100000
3 4 5 Produksi Batubara (Ton)
132,800,000.00 132,800,000.00 39,840,000.00 Total Produksi Batubara (Ton)
17,928,000.00 17,928,000.00 5,378,400.00 Tahun
Pemasukan
114,872,000.00 114,872,000.00 34,461,600.00 Royalty 13.50%
332,384,426 342,355,958.55 105,995,637
21,239,218.00 21,876,394.54 6,759,805.91 Pendapatan Kotor
1,727,145.20 1,778,959.56 549,698.50 Biaya Produksi
466,796.00 480,799.88 148,567.16 Biaya Langsung
7,315,626 7,315,625.93 7,315,626 Biaya Umum dan Administrasi
1,683,473.10 1,014,881.15 346,289.20 Biaya Perbaikan
-242,629,058 -252,634,994 -79,338,397 Depresiasi
212,180 218,545 67,531 bunga pinjaman 4.75%
7,315,625.93 7,315,625.93 7,315,625.93 Pendapatan Sebelum Pajak
Pajak dan Lisensi
-10 13,060,739 13,729,331 Depresiasi
-235,525,601.80 -258,598,652.00 -85,819,632.82 Modal Kerja -
-704,841,780 -963,440,432 -1,049,260,065 Pengembalian pinjaman
Aliran Kas
Aliran Kas Kumulatif
NPV
IRR
67.73 68.41 69.10 PBP
88.05 90.70 93.42
diri
2000000 2000000 600000
8100000
3 4 5
132,800,000.00 132,800,000.00 39,840,000.00
17,928,000.00 17,928,000.00 5,378,400.00

114,872,000.00 114,872,000.00 34,461,600.00

377,709,575 389,040,861.99 120,449,587
24,135,475.00 24,859,539.25 7,681,597.63
1,962,665.00 2,021,544.95 624,657.39
530,450.00 546,363.50 168,826.32
7,315,626 7,315,625.93 7,315,626
1,683,473.10 1,014,881.15 346,289.20
-291,149,638 -302,611,191 -94,809,358
212,180 218,545 67,531
7,315,625.93 7,315,625.93 7,315,625.93

-10 13,060,739 13,729,331

-284,046,181.57 -308,574,849.16 -101,290,593.03
-834,780,569 -1,143,355,418 -1,244,646,011
 1% 66.40 67.06 67.73 68.41
15% 66.40 78.65 81.01 83.44
Aliran Kas Modal Sendiri
1,500,000.00 2,000,000.002,000,000.00 2,000,000.00
8,100,000.00
0 1 2 3 4
99,600,000.00 132,800,000.00 132,800,000.00 132,800,000.00
13,446,000.00 17,928,000.00 17,928,000.00 17,928,000.00

86,154,000.00 114,872,000.00 114,872,000.00 114,872,000.00

245,730,850.00 337,371,659.00 347,492,808.77 311,232,689.59
15,697,500.00 21,557,900.00 22,204,637.00 22,870,776.11
1,276,500.00 1,753,060.00 1,805,651.80 1,859,821.35
345,000.00 473,800.00 488,014.00 502,654.42
7,315,625.93 7,315,625.93 7,315,625.93 7,315,625.93
3,863,416.87 2,352,065.05 1,683,473.10 1,014,881.15
-180,759,266.87 -248,636,484.05 -258,802,584.67 -222,608,822.63
150,000.00 206,000.00 212,180.00 218,545.40
7,315,625.93 7,315,625.93 7,315,625.93 7,315,625.93
81,335,092.00
-2.88 -6.61 -10.35 13,060,738.85
-81,335,092.00 -173,593,638.07 -241,526,851.51 -251,699,128.39 -228,572,480.95
-81,335,092.00 -254,928,730.07 -496,455,581.58 -748,154,709.97 -976,727,190.92
-1,149,038,902.48
Err:523
-
 69.10
85.94
Eskalasi Pendapatan 0.01
600,000.00 Eskalasi Biaya Produksi 0.20
Aliran Kas Modal Sendiri
5 Produksi Batubara (Ton)
39,840,000.00 Total Produksi Batubara (Ton)
5,378,400.00 Tahun 0.00
Pemasukan
34,461,600.00 Royalty 0.14
110,813,620.12
7,067,069.82 Pendapatan Kotor
574,684.80 Biaya Produksi
155,320.22 Biaya Langsung
7,315,625.93 Biaya Umum dan Administrasi
346,289.20 Biaya Perbaikan
-84,495,384.16 Depresiasi
67,530.53 bunga pinjaman 4.75%
7,315,625.93 Pendapatan Sebelum Pajak
Pajak dan Lisensi
13,729,330.80 Depresiasi
-90,976,619.56 Modal Kerja - 81,335,092.00
-1,067,703,810.48 Pengembalian pinjaman
Aliran Kas -81,335,092.00
Aliran Kas Kumulatif -81,335,092.00
NPV -1,068,585,242.05
IRR Err:523
PBP -
 66.40 67.06 67.73 68.41 69.10
66.40 82.07 84.53 87.07 89.68
Aliran Kas Modal Sendiri
1,500,000.00 2,000,000.00 2,000,000.00 2,000,000.00 600,000.00
8,100,000.00
1.00 2.00 3.00 4.00 5.00
99,600,000.00 132,800,000.00 132,800,000.00 132,800,000.00 39,840,000.00
13,446,000.00 17,928,000.00 17,928,000.00 17,928,000.00 5,378,400.00

86,154,000.00 114,872,000.00 114,872,000.00 114,872,000.00 34,461,600.00

256,414,800.00 352,039,992.00 362,601,191.76 373,479,227.51 115,631,603.61
16,380,000.00 22,495,200.00 23,170,056.00 23,865,157.68 7,374,333.72
1,332,000.00 1,829,280.00 1,884,158.40 1,940,683.15 599,671.09
360,000.00 494,400.00 509,232.00 524,508.96 162,073.27
7,315,625.93 7,315,625.93 7,315,625.93 7,315,625.93 7,315,625.93
3,863,416.87 2,352,065.05 1,683,473.10 1,014,881.15 346,289.20
-192,196,216.87 -264,338,937.05 -274,976,111.26 -285,952,458.45 -89,652,370.89
150,000.00 206,000.00 212,180.00 218,545.40 67,530.53
7,315,625.93 7,315,625.93 7,315,625.93 7,315,625.93 7,315,625.93

-2.88 -6.61 -10.35 13,060,738.85 13,729,330.80

-185,030,588.07 -257,229,304.51 -267,872,654.98 -291,916,116.78 -96,133,606.29
-266,365,680.07 -523,594,984.58 -791,467,639.56 -1,083,383,756.34 -987,250,150.05
-1,068,585,242.05
Err:523
-
 Perubahan modal Perubahan Modal Bunga 4.75% Biaya Operasi
(+) 25% 81,335,092 101,668,865.00 0.06
(+) 20% 81,335,092 97,602,110.40 0.06
(+) 15% 81,335,092 93,535,355.80 0.05
(+) 10% 81,335,092 89,468,601.20 0.05
1,302,572,974.30
(-) 10% 81,335,092 73,201,582.80 0.04
(-) 15% 81,335,092 69,134,828.20 0.04
(-) 20% 81,335,092 65,068,073.60 0.04
(-) 25% 81,335,092 61,001,319.00 0.04
Tabel 3.33. Analisis Sensitivitas D

Perubahan Modal Perubahan Modal Biaya Operasi Perubahan Biaya Operasi

(+) 25% 78,166,526.00 97,708,157.50 659,987,165.04
(+) 20% 78,166,526.00 93,799,831.20 633,587,678.44
(+) 15% 78,166,526.00 89,891,504.90 607,188,191.83
(+) 10% 78,166,526.00 85,983,178.60 580,788,705.23
527,989,732.03
(-) 10% 78,166,526.00 70,349,873.40 475,190,758.83
(-) 15% 78,166,526.00 66,441,547.10 448,791,272.22
(-) 20% 78,166,526.00 62,533,220.80 422,391,785.62
(-) 25% 78,166,526.00 58,624,894.50 395,992,299.02
Tabel 3.34. Analisis Sensitivitas Deng
 Perubahan Biaya Operasi NPV IRR PP
1,628,216,217.87 -1,325,981,103.35 Err:523 -
1,563,087,569.16 -1,068,585,242.05 Err:523 -
1,497,958,920.44 -1,149,038,902.48 Err:523 -
1,432,830,271.73 -1,130,595,157.20 Err:523 -
1,172,315,676.87 -789,670,162.34 Err:523 -
1,107,187,028.15 -724,541,513.63 Err:523 -
1,042,058,379.44 -659,412,864.91 Err:523 -
976,929,730.72 -594,284,216.20 Err:523 -
Analisis Sensitivitas Dengan Modal Pinjaman

NPV IRR PP
-298,331,129.32 Err:523 -
-280,627,593.91 Err:523 -
-254,228,107.31 Err:523 -
-227,828,620.71 Err:523 -
-122,230,674.30 Err:523 -
-95,831,187.70 Err:523 -
-69,431,701.10 -59% 5
-62,535,660.78 -44% 4
alisis Sensitivitas Dengan Modal Sendiri
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