Banpu reports Q1 Indonesian coal production, sales

Thai energy conglomerate Banpu Plc. on Friday reported that coal sales from Indonesian mines reached 2.836 million tons in the first quarter of 2003, while production reached 2.668 million tons. The company did not provide last year?s first quarter sales and production data.

According to the data released by the company, during the quarter, its South Kalimantan subsidiary PT. Jorong Barutama sold and produced 585,000 tons and 476,000 tons of coal, respectively. Banpu?s East Kalimantan subsidiaries Indominco Mandiri sold and produced 1.526 million tons and 1.497 million tons, respectively, while Kitadin sold and produced 725,000 tons and 695,000 tons.

Banpu earlier said its Indonesian operations were expected to produce 11.5 million tons of coal this year.

Banpu said it was continuing with efforts to cut operating costs and said during the quarter During the first quarter, the company had been able to maintain its gross profit margins despite a decrease in coal spot prices.

?Looking ahead in second quarter, the company has anticipated the declining spot coal price in the international market. Therefore, key measurements especially the on-going cost reduction program in Indonesian coal operations is vital in order to sustain the company?s profitability,? said Banpu?s CEO Chanin Vongkusolkit.(alex)

Banpu?s Production, Sales, Coal Reserves and Resources Q1 2003
Quantity (Million Tons)
Source	As of Dec. 31, 02		Production Jan ? Mar ?03	As of Mar. 31, 03		Sales Jan ? Mar ?03
	Reserves	Resources		Reserves	Resources
1. Jorong	36.3	7.6	0.476	35.824	7.6	0.585
2. Indominco	46.3	-	1.497	44.803	-	1.526
3. Kitadin	32.1	71.7	0.695	31.405	71.7	0.725
4. Trubaindo	51.6	20.9	-	51.6	20.9	-
5. Barasentosa	-	24.7	-	-	24.7	-
6. Mampu Pandan	-	14.1	-	-	14.1	-
TOTAL	166.3	139.0	2.668	163.632	139.0	2.836