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Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
 COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approximately US$ 612.050 million) or an increase of 13 percent YoY. According to company, this increase was primarily due to higher production and sales volume.
The weighted average selling price of coal for the period January - June 2012 was at IDR 785,043 (approximately US$ 82.98) per ton or 0.5 percent higher than the selling price over the same period in 2011. PTBA’s weighted average selling price was in H1 of 2011 was around IDR 781,228 (approximately US$ 82.58) per mt
Coal transport by Rail
According to company’s unaudited financial statement released today, 5.85 million tons of coal has been transported via railway for the period January - June 2012, which was up by 4 percent compared to the coal transported in the same period in 2011. PTBA has transported 5.63 million tons of coal H1 2011.
Sales Volume
January to June 2012, the company's sales volume has increased by 13 percent to 7.36 million tons, from the same period in 2011. Out of 7.36 million tons of coal around 57 percent of coal has been supplied to domestic market and remaining 43 percent has shipped to overseas.
PTBA’s 2011 coal sales was only around 6.54 million tons.
Coal Production and Purchase
The company's coal production has jumped 14 percent (YoY) to 7.08 million tons during 1st half this year, including from its subsidiary IPC’s 0.40 million tons. The same period last year PTBA has produced only 6.19 million tons.
PT. Bukit Asam also has brought more coal from third parties during first half this year. Third party coal purchased has jumped 114 percent to 810,000 MT for the first half of 2012.
Company has successfully maintained its average stripping ratio at lower level during first half this year. The current low coal price might not affect the performance of company as PTBA’s 1st half average stripping ratio was at 4:1. However the H1, 2012 average stripping ratio was slightly higher compare to same period in 2011.
Operating Profit
Operating profit of the company over the period January-June 2012 was IDR 1.87 trillion (approximately US$ 197,674,418.60), slightly lower than IDR 1.97 trillion (approximately US$ 208,245,243.12) (YoY).
Net Profit
The Company's Net Profit for the period January - June 2012 was IDR 1.56 trillion (approximately US$ 164,904,862.57), slightly lower compared to Rp 1.61 trillion (approximately 170,190,274.84) over the previous period.
According to company’s unaudited financial statement In the period of January to June 2012, the Gross Profit Margin (GPM), Operating Profit Margin and Net Profit Margin were at 46%, 32% and 27%, respectively, down compared to YoY which were 52.5%, 38.5% and 31.5% respectively.
In addition, the ROI rose from 20% to 21% and ROA remained unchanged at 14%.
About PT. Bukit Asam
The coal mining in Tanjung Enim was initiated by the Dutch Colonial Government in 1919 by operating the first coal mine using open pit mining method in Air Laya.
Using underground mining method, initial operation commenced in 1923 and lasted until 1940, while commercial production began in 1938.
When the Dutch Colonial period ended in Indonesia, the mining workers fought for the nationalization of the mines. In 1950, the Indonesian Government approved the establishment of State-Owned Bukit Asam Coal Mine or Perusahaan Negara Tambang Arang Bukit Asam (PN TABA).
In1981, PN TABA converted its status to a limited liability company under the name of PT Tambang Batubara Bukit Asam (Persero) Tbk, further called the Company. To develop coal industry in Indonesia, in 1990 the Government merged Perum Tambang Batubara with the Company.
In line with the national energy security development program, in 1993 the Company was assigned by the Government to develop coal briquette business.
On December 23, 2002 the Company became a publicly listed company on the Indonesian Stock Exchange under the code of “PTBA”.
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Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
Saturday, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
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