Berau?s H1 coal production up 19%
Friday, August 30 2013 - 03:26 AM WIB
London-listed mining firm Bumi Plc said that coal production at its Indonesian unit IDX-listed PT Berau Coal Energy Tbk increased by 19 percent during the first half of this year compared to the same period of last year, despite lost time due to rain which was 9 percent higher than plan.
Total coal mined was 11.5 million tons for the first half of 2013 compared with 9.6 million tons in the first half of 2012. The increase in coal mined is primarily from existing pits, Bumi said in its first half financial report obtained Thursday.
PT Berau's assets are located in the north eastern part of Kalimantan and consist of three operating mines, namely Lati, Binungan and Sambarata. Bumi Plc owns 76.2 percent stake in PT Berau.
PT Berau's average selling price for the first half was $61.4 per ton (H1 2012: $76.6 per ton). Production cost of sales at PT Berau was $37.1 per ton (H1 2012: $41.1 per ton (restated)). The decrease is mainly due to a reduction in the stripping ratio, reduced hauling distances and lower fuel prices, partly offset by higher transhipment costs, the company said.
The average stripping ratio for the period was 8.7 bcm per ton compared to 10.4 bcm per ton for the first half of 2012. The improvements in stripping ratio were mainly at Lati Other, Binungan 7 East, Sambarata B1 and Sambarata B (East and West).
PT Berau is on track to deliver 23 million tons for the year. In terms of sales by destination, 32% of sales went to China (including Hong Kong), 27% to India and 26% went to the rest of Asia (including Taiwan and South Korea), with the remaining 15% sold domestically into Indonesia.
| Operating Data | 6 months to 30 June 2013 | 6 months to 30 June 2012 | Year to 31 Dec 2012 | H1 13 v H1 12 |
| Coal mined (millions of tons) | 11.5 | 9.6 | 21.0 | 19% |
| Sales (millions of tons) | 11.5 | 9.8 | 21.1 | 17% |
| FOB average selling price ($/t) | 61.4 | 76.6 | 70.9 | (20%) |
| Production cost of sales ($/t) | 37.1 | 41.12,3 | 38.72,3 | 10% |
| Stripping ratio (bcm/t)1 | 8.7 | 10.4 | 9.6 | 16% |
| Summary of key operating data? | 6 months ended30 June 2013 | 6 months ended 30 June 2012 | 12 months ended 31 December 2012
|
| Berau | ? | ? | ? |
| Coal mined (millions of tons) | 11.5 | 9.6 | 21.0 |
| Lati | 5.1 | 4.9 | 10.7 |
| Binungan | 3.9 | 2.6 | 5.4 |
| Sambarata | 2.5 | 2.1 | 4.9 |
| Sales (millions of tons) | 11.5 | 9.8 | 21.1 |
| ? | |||
| FOB average selling price ($/t) | 61.4 | 76.6 | 70.9 |
| Production cost of sales ($/t) | 37.1 | 41.12,3 | 38.72,3 |
| Stripping ratio (bcm/t)1 | 8.7 | 10.4 | 9.6 |
Editing by Reiner Simanjuntak