Pama booked H1 lower revenue on lower output, strong Rupiah

Indonesia?s top coal mining contractor PT. Pama Persada Nusantara booked first semester revenue of Rp.1.48 trillion, down 7 percent compared to last year?s revenue of Rp.1.59 trillion, parent company JSX-listed United Tractors (UT) said in its half-yearly report.

The decrease in revenue was due to strengthening of Rupiah, as the company?s revenue was in US Dollar, and decrease in production.

During the fisrt half of this year, said UT, Pama had produced 13.9 million tons of coal and removed 62.4 bcm of over burden, lower than last year?s coal production of 14.8 million tons of coal and 68.7 bcm of overburden removal. UT said during the first quarter Pama had completed and terminated work for East Kalimantan coal miner Kaltim Prima Coal.

UT said in the second semester of this year, Pama would commence overburden removal contract for another East Kalimantan miner PT. Kideco Jaya Agung and the company had also bagged mining contract with South Kalimantan coal mining firm PT. Dasa Eka Jasatama.(alex)