Bumi Resources?s H1output up significantly
Monday, August 26 2013 - 07:04 AM WIB
Indonesia biggest coal producer PT Bumi Resources produced 38 million tons of coal in the first half of the year, compared to 32 million in the same period of 2012.
Director and Corporate Secretary Dileep Srivastava told Petromindo.com on Monday rains throughout the first semester did not affect coal mining activities significantly, while the company reduced stripping ratio, produced more low CV coal and held comfortable stocks.
"In spite of an unjustified work stoppage in a couple of mines in Arutmin from end April we maintained sales at above 19 million tons per quarter, which is pro rata ahead of our financial year 2013 sales guidance of 74 million tons," Dileep said.
Dileep added that the company is expecting to maintain a production rate of 18 million tons to 19 million tons per quarter and appears on track to reach its production guidance of 77 million tons in 2013.
To cope with the weak coal price, Dileep said that the company is reducing its stripping ratio, implementing fuel efficiency program and cutting nonessential expenditures.. "We are upgrading efficiency and throughput across our entire coal supply chain to optimize coal output and shipments," he added.
Editing by Johannes Simbolon