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Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
 COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (“BUMA”), has signed a contract amendment with PT Berau Coal (“Berau”) to remove total 647 mn bcm Overburden and produce 67.9mn tons coal.
The company further said its press release today, although coal market is still relatively weak, BUMA continues to provide quality service and continuous improvement on operational performance for its customers. As a result, BUMA was awarded with higher volumes from one of its major customers, Berau, while the contract period for the Binungan site has extended until 2019 from 2018.
The amended contracts are for overburden removal, coal hauling, and equipment rental for the mining site of Lati and Binungan within Berau coal concession.
The contract volume on average is expected to increase by 26% per annum from BUMA’s current production level at Berau coal. Total contract value is approximately US$ 1.2 billion for 5 years.
According to press release, BUMA has assigned to remove 255 million bcm of Overburden and 24.70 million tons coal production in Lati site and 392 mn bcm of Overburden and 43.2 mn tons coal in Binungan site.
The contract extension and additional volumes provide BUMA with stronger financial position and will positively drive achievements toward its goal, the company said.
"The amended contracts serve as proof of BUMA’s commitment to excellence as it remains one of the largest mining contractors in Indonesia," said company.
PT Delta Dunia Makmur Tbk
DOID was established in 1990 and through its primary subsidiary, BUMA, is one of the largest coal mining contractors in Indonesia, based on production volumes. As of and for the year ended 30 June 2014, DOID had net revenues of US$ 303 million, operating income of US$ 37 million and assets totaling US$ 1.08 billion. DOID is listed on the Main Board of the Indonesian Stock Exchange (IDX ticker: DOID). DOID is headquartered in Jakarta, Indonesia.
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Thursday, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
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