Rainfall, poor contractor?s performance hit Bayan's Q2 production
Thursday, August 5 2010 - 08:59 AM WIB
The Company attributed the decline to prolonged rainfall and continuous bad weather conditions that disrupted mining operations and contractor?s operational efficiencies were below expectations which impacted coal production especially in Perkasa Inakakerta and Wahana Baratama mines, both of which are located in East Kalimantan.
Cumulative first half production has reached 5.6 million tonnes, the Company?s presentation showed.
The Company?s second quarter 2010 coal sales volume was 2.9 million tonnes, which was 3.6% higher than first quarter 2010 coal sales volume of 2.8 million tonnes. Coal sales volume was lower than budget due to reduced coal production level and certain high CV shipments were deferred due to the force majeure in Gunungbayan Pratama Coal mine, it said.
India remains Bayan?s biggest customer in terms of sales volume, it added.
Bayan?s top 5 customers year to date (by sales volume) are: J. AronVitol, Enel, Coal & Oil, and Bhatia.
The Company also reported that second quarter average selling price reached US$ 72 per tonne vs $60.4 per tonne in last year?s same quarter with first quarter 2010 average selling price stood at $71.8 per tonne.
The Company said that its full year 2010 committed sales was 13.5 million tonnes with 81% have been priced at $73.9/MT with an average of 5,849 CV GAR. (kanthi)
Bayan's 2Q10 Production
| Coal Production by Mine Site (in million MT) | 2Q10 | |
| Budget | Actual | |
| Gunungbayan Pratamacoal (GBP) Blk II & I | 1.0 | 0.9 |
| Teguh Sinarabadi (TSA) / Firman Ketaun Perkasa (FKP)1 | 0.4 | 0.4 |
| Perkasa Inakakerta (PIK) | 0.8 | 0.6 |
| Fajar, Tabang, Brian (FTB)2 | 0.4 | 0.3 |
| Wahana Baratama Mining (WBM) | 1.2 | 0.7 |
| Total | 3.8 | 0.9 |
| Source: PT Bayan Resources, Tbk | ||