Pama?s 9-month revenue down of strong Rupiah, KPC contract termination

Indonesia?s top coal mining contractor PT. Pama Persada Nusantara recorded 3 percent decrease in 9-month net revenue of Rp.2.30 trillion (US$ = Rp.8, 500), compared to last year?s same period revenue of Rp.2.37 trillion.

The company?s parent company PT.United Tractors in its quarterly report to the Jakarta Stock Exchange Thursday said| the decrease was due to the strengthening of Rupiah against US Dollar and termination of mining contract with PT. Kaltim Prima Coal (KPC) in the first half of the year.

During the 9-month period Pama had produced 20.6 million tons of coal and removed 104.2 million bcm of over burden, lower than last year?s corresponding period production of 21.8 million tons of coal and the removal of 106.9 million bcm of overburden.

Meanwhile, the company said that in the fourth quarter of this year, overburden removal contract for East Kalimantan coal miner PT. Kideco Jaya Agung and South Kalimantan coal miner PT. Dasa Eka Jasatama had commenced. (alex)