Bumi 2010 net profit up

Indonesia biggest coal producer PT Bumi Resources said its 2010 audited net profit increased to US$311.18 million from $190.45 million in the previous year.

The company said that its revenue was up to $4.37 billion during 2010, from $3.66 billion in 2009.

The company has ?large potential for reserves expansion? as its largest coal subsidiary, PT Kaltim Prima Coal (KPC) has been ?only partially explored?. Other coal subsidiaries of the firm are PT Arutmin Indonesia, Fajar Bumi Sakti (FBS) and PT Pendopo Energi Batubara (PEB)

Of the 2.860 billion tonnes in reserves, KPC holds 1.422 billion, Arutmin 469 million tonnes, FBS 282 million tonnes, PEB 687 million tonnes. Of the 10.042 billion tonnes resources, 7.508 billion tonnes are held by KPC, 1.796 billion tonnes by Arutmin, 305 by FBS, 415 by PEB.

The firm produced 60 million tonnes of coal last year and expects to produce around 67 million tonnes this year and has made a plan to increase its output to 113 million tonnes per year in 2013. (denny)