May 11, 2012

Berau, KPC, Arutmin 1Q coal productions up 8.69%

Three coal miners that are controlled by Bumi Plc, PT Berau Coal, PT Kaltim Prima Coal, and PT Arutmin Indonesia mined 20 million tonnes of coal for the first quarter of 2012, a 8.69% increased from 18.4 million tonnes in Q1 2011.
Coal sales volume of Berau Coal was slightly flat at 4.6 million tonnes. Berau's operations were impacted by high levels of rainfall as well as a higher stripping ratio which impacted costs. Higher levels of output for the rest of the year are expected to improve cost performance. 
The average selling price per tonne in the first quarter was US$78.3/tonne.  Year to date stripping ratio was 10.6 bcm per tonne. Berau is forecast to mine 23 million tonnes for 2012. 
Berau's expansion plans include the construction of the Binungan 42 kilometre overland conveyor, one of the longest in the coal industry.  
The conveyor will be constructed over two phases with commissioning expected in phases. The introduction of the conveyor is expected to significantly reduce trucking and related fuel costs. 
KPC & Arutmin 
Kaltim Prima Coal (KPC) mined 8.4 million tonnes of coal, marginally higher than Q1 2011 of 8.3 million tonnes. The months of January and February were impacted by heavy rainfall with March reflecting improved production levels.  
The average selling price in the first quarter was US$100.4/t, an increase over the same period in 2011. The year to date stripping ratio was 13.0 bcm per tonne, a decline from 13.7 in the first quarter of 2011.
Arutmin Indonesia mined 7.5 million tonnes of coal, a 25% increase over the first quarter of 2011 of 6 million tonnes. 
The average selling price in the first quarter was US$$82.9/t, an increase over the same period in 2011. The year to date stripping ratio was 8.3 bcm per tonne, a reduction of 10%.

  • Coal sales volume (million tonnes)
                          1Q2011        1Q 2012
Berau Coal       4.6                 4.6
KPC                  9.1                 9.0
Arutmin            4.8                 6.8

  • Coal production volume (million tonnes)
Berau Coal       4.1                4.1
KPC                 8.3                8.4
Arutmin           6.0                7.5

Disclosure: No position at the stock mentioned above.

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