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Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
 COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits to Rp 450.2 billion (US$48.94 million) last year in light of its expansion plans to be among Indonesia’s top coal producers.
According to company's statement posted on its website, both year-on-Year Production and Sales volume increased by 87.7% compared to FY2010. Production went up from 2,248,865 ton last year to 4,222,139 ton in FY2011, whilst sales went up from 2,209,289 ton last year to 4,146,134 ton in FY2011. Both figures also exceeded FY2011 forecast target of 3,550,000 ton and 3,500,000 ton for production and sales respectively.
Resource Alam focuses on the production and sales of thermal coal through its wholly owned subsidiary PT. Insani Bara Perkasa (“IBP”). IBP holds and operates a 24,477 hectare, 3rd Generation Coal Contract of Work (CCOW) concession in East Kalimantan.
The statement further said, driven by greater Sales Volume and higher Average Selling Price (ASP), Revenue more than doubled by 128.2%, from US$106.2 million last year to US$ 242.5 million in FY 2011. “Royalty” and “Infrastructure Compensation” are reclassified from Operating Expense in FY 2010 to Cost of Goods Sold in FY 2011 to better suit reporting standard.
ASP went up by 22.0% from US$ 48.1/ton last year to US$ 58.5/ton in FY2011. This is largely contributed by improved coal pricing and more favorable contractual terms, with majority of shipments delivered on FOB Vessel basis in FY2011.
Average Production Cost (APC) also went up by 14.0% from US$23.7/ton last year to US$26.9/ton in FY2011, mostly due to higher fuel cost, the company said. Growth in APC is more than compensated by higher growth in ASP as reflected by increasing NPAT margin from 17.1% last year to 21.2% in FY2011. NPAT went up by 182.0% from US$18.2 million last year to U$51.3 million in FY2011.
In October 2011, Resource Alam appointed PT. Britmindo, a mine consulting firm, to conduct its first JORC survey on a 500 hectares area (Zone A) within IBP’s concession. JORC resource report on Zone A was released in January 2012, with reported total coal resource of 56.1 million ton (for that particular area). Reserve report for Zone A is scheduled to be issued by end of March 2012.
Resource Alam appointed Ernst & Young (E&Y) as the Company’s auditor for FY2011.
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Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
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