Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 18.66% increase in overburden removal by end of October this year.
Delta Dunia posted 250.5 million bank cubic meter (bcm) in 10M 2011 from 211.1 million bcm in 10M 2010. Coal production recorded a 1.05% increase to 29 million tons from 28.7 million tons.
Delta Dunia, that is owned by a collaboration of Northstar Pacific Partner, Texas Pacific Group, and China Investment Corporation (CIC), suffered a Rp12.14 billion net loss in 9M 2011 from a Rp351.93 billion net profit in 9M 2010.
The loss was mainly contributed by loss on term liabilities redemption and derivative financial instrument expenses of Rp156.45 billion and Rp204.59 billion.
Disclosure: No position at the stock mentioned above.
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