Mining contractor Pamapersada records higher coal, overburden production

Publicly listed heavy equipment supplier PT United Tractors Tbk reported Friday that mining contractor PT Pamapersada Nusantara produced 8.0 million tons of coal and 56.5 million bcm (bank cubic meter) overburden in the first quarter of 2005, up from 6.7 million tons of coal and 40.0 million bcm overburden in the corresponding period last year.

UT said Pama recorded revenue of Rp 1.12 trillion, or 39 percent higher than Rp 804 billion revenue of first quarter 2004, contributed by 19.4 percent increased production of coal and 41.2 percent increased volume of overburden.

UT said during this first three months, Pama still recorded a slightly higher gross profit and operating profit margins of 12.9 percent and 10.6 percent, respectively, as compared to 12.5 percent and 9.6 percent for the same period in 2004.

However, gross profit for the end of this year is expected to be lower, due to the impact of higher cost at its project for PT Kaltim Prima Coal (KPC), UT added.

Pama, which is wholly-owned subsidiary of UT, produced 29.4 million tons of coal and 201.6 million tons bcm overburden last year, resulting total revenue of Rp 4.099 trillion.

Pama?s existing clients include PT Adaro Indonesia, PT Indominco Mandiri, state-owned coal miner PT Tambang Batubara Bukit Asam, PT Kideco Jaya Agung , PT Arutmin Indonesia, and PT Tanjung Alam Jaya. (Robert)