Banpu reports higher Q3 coal sales volume
Thursday, November 20 2014 - 02:03 AM WIB
Thailand?s top coal miner Banpu Pcl said that its Indonesian coal operations delivered sound performance during the third quarter of this year, securing combined sales volume of 7.74 million tons, slightly higher than 7.48 million tons in the same quarter of last year.
Compared to the second quarter, the Q3 sales volume was up 16 percent, the company said in a statement last week.
?All mines reported stronger sale volume, especially at Indominco and Trubaindo where sale volume reached 4.07 million tons and 1.81 million tons respectively,? the statement said.
Banpu runs its coal mining business in Indonesia through subsidiary IDX-listed PT Indo Tambangraya Megah Tbk, which has five coal mine units including PT Indominco Mandiri, PT Trubaindo Coal Mining, PT. Bharinto Ekatama, PT. Kitadin and PT Jorong Barutama Greston.
Elsewhere, Banpu said the average coal selling price (ASP) slightly decreased 2 percent quarter on quarter to US$67.08 per ton. The average cost of sale rose by 5 percent to $46.90 per ton compared to the second quarter as a result of higher accounting amortization of overburden due to accelerated production at Indominco for the remainder of this year.
The stripping ratios declined further from previous periods. The Gross Profit Margin (GPM) was 30 percent versus 34 percent in the previous quarter, it added.
Editing by Reiner Simanjuntak