Release: Bumi Resources achieved highest sales volume in November 2005
Friday, December 16 2005 - 01:04 AM WIB
The company added that production volumes have also continued to increase steadily in October 2005 and November 2005, reaching 3.79 million tons and 4.23 million tons(annualized of 50.7 million tons a year) respectively.
Stripping Ratio
BUMI Resources also provided its latest development of its stripping ratio figures. The company said that the stripping ratio in KPC-Sanggata for the last two months, (October and November 2005) has dropped to 8.5: 1 times from the 3rd quarter 2005 rate 9.7:1 times. While KPC?s stripping ratio rate at Bengalon, which was 19.0 : 1 times for the 3rd quarter 2005 dropped to 9.4 : 1 times during the months of October and November 2005.Arutmin?s stripping ratio has also dropped to 5.6 : 1 times in October and November 2005 from 6.9 : 1 times for the 3rd quarter 2005.
Divestment
Bumi Resources? CPO Eddie J Soebari stated his optimism that the KPC divestment process which was finalized early December would further boost his company?s performance moving forward.
He said the current KPC shares composition is as follows:
Sanggata Holding Limited 24.5%
Kalimantan Coal Limited 24.5%
PT Kutai Energy Timur 5.0%
PT Bumi Resources Tbk. 13.6%
PT Sitrade Coal 32.4%
About Bumi Resources
PT Bumi Resources Tbk, is one of the largest publicity listed mining companies in Indonesia, with its two coal companies ?PT Kaltim Prima Coal and PT Arutmin Indonesia comprising the company?s core business? along with its oil and gas subsidiary Gallo Oil (Jersey) Ltd and Enercorp, its marketing agent for domestic buyers. (end of release)
