Banpu reports lower sales volume from RI mines

By Romel S. Gurky

Thai firm Banpu Pcl said that coal sales volume from its mines in Indonesia fell by 10 percent in the second quarter (2Q) of this year to 6.10 million tons from 6.78 million tons in the corresponding period of last year.

?Compared to last year the total sales volume decreased due to reserve depletion at Kitadin Tandung Mayang that led to mine closure since early this year,? the company said in a statement Thursday.

The company said its major mining areas in Indonesia including Indominco, Trubaindo, and Bharinto achieved production output as planned.

The Average Selling Price (ASP) softened 4 percent QoQ to $46.24 per ton. Nevertheless the production cost continued to be well-managed at $32.6 per ton or flat QoQ despite the recovery in diesel price by 28 percent QoQ to $0.42 per liter, Banpu explained.

The Gross Profit Margin (GPM) was 30 percent compared to 34 percent in the previous quarter as a result of lower ASP.

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.

?	2Q16	1Q16	2Q15
Production (M tonnes)
Indominco - West Block	0.52	0.71	0.26
Indominco - East Block	3.29	2.81	3.07
Trubaindo	1.24	0.95	1.68
Bharinto	0.52	0.38	0.59
Jorong	0.20	0.26	0.32
Kitadin - Embalut	0.27	0.29	0.27
Kitadin - Tandung Mayang	-	-	0.73
Total	6.04	5.41	6.92
Coal sales volume (M tonnes)
Indominco - West Block	0.47	0.59	0.26
Indominco - East Block	3.39	3.27	2.70
Trubaindo	1.21	1.53	1.70
Bharinto	0.49	0.59	0.71
Jorong	0.27	0.43	0.40
Kitadin - Embalut	0.27	0.29	0.33
Kitadin - Tandung Mayang	0.01	0.04	0.67
Total	6.10	6.73	6.78

Editing by Reiner Simanjuntak