Pama?s Q1 coal production slightly increase
Thursday, April 30 2009 - 03:52 AM WIB
Indonesia?s leading mining contractor PT Pamapersada Nusantara (Pama), a unit of IDX-listed heavy equipment distributor and miner PT United Tractor (UT), delivered 14.5 million tons of coal in the first quarter of the year, or 2% higher than last year?s production.
UT said on Wednesday that overburden removal during the quarter reached 121.05 million bcm or increased 22% compared to the same quarter of last year.
The production rise and weakening Rupiah were reflected in Pama?s increased revenue, as it grew from Rp 2.24 trillion (1US$ = Rp 10,830) in the same period last year to Rp 3.28 trillion this year.
Earlier, East Kalimantan coal miner PT. Kideco Jaya Agung agreed to extend its mining contract worth at US$3.3 billion with Pama for another 10 years starting 2009. Under the contract, Pama will remove 90 million bcm of overburden per annum and mine 12 MTPA of coal for Kideco. (denny)