The purpose of this research is to compare the valuation of low coal calorie using the Real Option and Discounted Cash Flow methods. The mining company, PT. Pesona Khatulistiwa Nusantara (PKN) has low-calorie coal reserves that have four mining areas, and currently has production in two mining areas. At the opening of the two previous sites, the feasibility calculation was carried out using the Discounted Cash Flow method, which this method did not describe the movement of coal prices that occurred in the future so that management was not flexible in setting strategies in dealing with fluctuating coal prices. At that period there was a continuous decline in coal prices from 2011 to 2016. Recently PT.PKN plans to open a new mining area, namely at the Ardimulyo Mine Operation (AMO) site. also use Real Option to accompany the calculation with discounted cash flow. The calculation using the real option method (without abandon) shows the NPV value below the discounted cash flow method, while the exit option/abandonment value increases as the selling price of coal decreases. The recommendation is to run an exit option/abandonment when the selling price of coal is not economical