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Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010


COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. According to Bumi’s announcement previewing the operating metrics of Bumi (KPC & Arutmin) for the period Jan - Jun 2010 and Apr - Jun 2010 y-o-y has indicated an outperform on sales and production volumes and price with a lower strip ratio and higher closing inventory compared with the same period in 2009 – in spite of challenging weather conditions. 

FOB Price Changes (KPC/Arutmin)

Oct/Dec 2009  $ 58.0/ton
Jan/Mar 2010  $ 62.7/ton
Apr/Jun 2010 (E) $ 71.6/ton, up $ 11.5/ton compare to Apr/Jun 2009  $ 60.1/ton

- Sharply Rising in 1H 2010 - Revenue Growth looking very strong

• Sales Volume Higher by 21%
• Production Higher by 13%
• FOB Price Reaches $71.6/ton
• Overall Coal Stocks Comfortable
 

Key Highlights

Sales of 31 million tons up 22% vs just 25.6 million tons in H109. Q1'10 was a record breaking quarter at 16 million tons up ca 42% vs just 11.3 million tons in Q1'09.

KPC achieved a record load out of 3.96 million tons in June 2010 – previous best was in August 2009 at 3.80 million tons.  Loading capacity in Sangatta port has been upgraded by 67% to 7,500 tons/hour over May/Jun’10 compared with earlier 4,500 tons/hour. Presently, “they are able to do 6200 tph but they should soon reach full capacity of 7500 tph over H2'10’, the report says.

Deleveraging and unlocking value is of the highest priority in BUMI. Beginning with the non preemptive issue closing latest 30 September 2010 and formation of Bumi Resources Minerals (BRM) to manage and develop the non energy assets.

According to preview, company is on track to achieve FY 2010 guidance of:  Sales > 64 million tons, Production > 67 million tons and  Price > $67/ton fob.

Sales Outlook for July 2010 – ca 5.5 million tons. 



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