Adaro Energy Q3 output increases 26%
Friday, November 1 2013 - 02:27 AM WIB
IDX-listed coal giant PT Adaro Energy Tbk said that coal production during the third quarter of this year jumped by 26 percent to 13.73 million tons compared to 10.86 million tons in the same period of last year. The output was a 2 percent increase compared to the second quarter of this year.
?We achieved a record quarterly coal production in the third quarter of 2013,? the company said in a statement obtained Friday.
Adaro increased production growth with strong contractor performance, efficient operations and good weather, the company added.
At the end of the nine-month period, coal production reached 38.67 million tons, on track to meet the company?s 2013 production target of 50 to 53 million tons.
In the third quarter of 2013, all three of the company?s pits increased production year-on-year (y-o-y), but quarter-on-quarter (q-o-q) Wara pit accounted for the bulk of volume growth. ?We produced 1.53 million tons from our Paringin pit, down 6 percent q-o-q but up 538 percent y-o-y. Our production output from Tutupan reached 10.17 million tons, a 1 percent increase q-o-q from 10.06 million tons and 9 percent increase from 9.33 million tons in third quarter of 2012,? it explained.
?Production at our Wara pit grew 10 percent q-o-q, to 2.03 million tons from 1.84 million tons and up 57 percent from 1.29 million tons in third quarter 2012,? it added.
Adaro said total sales volume increased 2 percent q-o-q to 14.11 million tons from 13.77 million tons in the second quarter of 2013 and up 28 percent from 10.99 million tons in the third quarter of 2012. ?Third quarter sales volume of 14.11 million tons was our second highest quarterly figure behind 14.30 million tons in third quarter of 2011,? the company said.
Actual strip ratio in the third quarter of 2013 of 5.90x was flat q-o-q but was 34 percent lower from 8.99x in third quarter of 2012. Actual strip ratio at the end of nine-month period of 2013 was 5.77x, 23 percent lower compared to 7.52x at the end of nine-month 2012. :We are on track to reach our 2013 planned strip ratio guidance of 5.75x. The lower average planned strip ratio this year resulted in a 17 percent decline in overburden removal to 80.96 Mbcm in third quarter of 2013.?
Barging and shiploading activities improved in third quarter of 2013 due to increased coal production and good weather conditions. ?Excellent performance from our contractors, along with lower rainfall volumes, enabled Adaro to reach a record quarterly production volume and stay on track to reach our yearly guidance,? the statement ended.
Editing by Reiner Simanjuntak