Banpu reports lower Q3 output, cuts target in 2008

Thai energy firm Banpu Plc reported on Monday that its coal sales from its Indonesian mines reached 4.6 million in third quarter of 2008, nine percent lower compared to the same quarter of last year.

?The coal operations in Indonesia failed to reach the full production scale due to persistent rainfall that heavily affected South Kalimantan area where Jorong mine is located. As a result Jorong reported coal sale of 0.52 million tonnes in this quarter,? the company said in statement.

Indominco was less affected by rain with relatively stable sales at 2.71 million tons. Trubaindo performed as planned with sales at 1.15 million tones, it said.

The company predicts that the impact from unusual rainfall during the period is likely to cut short this year?s production and sale by 6 percent from the original target of 20 million tonnes.

Revenue from coal sales rose sharply by 34 percent compared to the previous quarter due to continued increase in average coal selling price to US$83.58 per ton, it added.

Meanwhile, production cost up 5 percent compared to the previous quarter, induced by diesel price of $1.25 per liter. (denny)

Source	Quantity (Million Tonnes)
	Reserves As of June 30, 2008	Sales Jul-Sept'08	Reserves As of Sept 30,2008
Indonesia
Jorong	11.33	0.52	10.81
Indominco	88.51	2.71	85.80
Kitadin	26.73	-	26.73
Trubaindo	55.94	1.15	54.79
Bharinto	46.30	-	46.30