Pama reports higher H1 coal production

Indonesia’s top coal mining contractor PT. Pama Persada Nusantara reported on Tuesday that it had produced 23.9 tonnes of coal for its clients during the first half of 2007, a 18 percent increase compared to last year’s same period.

 

The company also reported it had removed 160 million bcm of over burden during the period, 3% lower than last year’s work.From its mining contracting job, until June 2007 Pama delivered revenue of Rp 3.4 trillion (US$=Rp.9,100) as compared to last year’s Rp 3.8 trillion. Margin of gross profit was 13.3% or still lower than last year, as the consequence of several accidents which occurred earlier this year, as well as Pama’s site relocation at KPC project (from Bendili site to Pelikan site), which started last April.

 

Operating profit margin was also down from 11.9% to 10.2%.

 

Pama, a wholly-owned subsidiary of JSX-listed heavy equipment distributor PT.United Tractors,  is Indonesia’s largest mining services provider. The company’s existing clients include PT Adaro Indonesia, PT Indominco Mandiri, PT Kaltim Prima Coal, Tambang Batubara Bukit Asam, and PT Kideco Jaya Agung.

 

On 30 April 2007, Pama has signed Shares Sales Agreement (SSA) to purchase 99% shares of PT Dasa Eka Jasatama (DEJ). Fully owned by Pama, until June 2007 the mine has managed to deliver 1.5 million tons of premium quality coal, contributing revenue of Rp 626 billion with 13.6% gross profit margin. Expected production for the full year 2007 is about 3 million tons, the company said. (denny)