Bumi Resources targets 10 percent output up in 2013

By Cepi Setiadi

IDX-listed Bumi Resources Tbk is expecting to achieve an increase of 10% in coal mined and sales volume with a strip ratio likely to decline to 10.

Dileep Srivastava, Director and Corporate Secretary of Bumi Resources on his statement to Petromindo.com said that in 2012, the company expected to mine between 72 and 73 million tons (vs 65.9 million tons in previous year) and sold +68 million tons (vs 63 million tons in previous year) and carry adequate inventory into Q1'13 to optimize sales and to counter impact of the wet weather.

"We plan to be efficient in capex spent in 2013 in line with the soft market conditions without compromising our ability to build coal mining capacity to 100 million tons at KPC and Arutmin in 2014 by enhancing logistics and optimizing throughput across our coal supply chain," he said.

He revealed that operationally the company's performance was very sound with coal mined increasing by 8.9% to 51.2 m tons (vs 47.0 m tons last year); sales increased by 4.5% to 47.6 m tons (vs 45.6 m tons last year), and strip ratio dropped to 10.9

Editing by Er Audy Zandri