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Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's earnings before interest, tax, depreciation and amortization (EBITDA) in 2009 will be close to the EBITDA in 2008, which is caused by the growing volume of production and sales as well as cost efficiency.
Bumi Resources Investor Relations Senior Vice President Dileep Srivastava said that the company’s coal production volume in 2009 is predicted to grow around 17.5 percent compared to the production volume in 2008.
Meanwhile, the sale is predicted to jump 14 percent to 58 million tons of a previous 51.5 million tons.
“With a satisfying selling price, Bumi is confident to reach a good EBITDA,” Srivastava said to VIVAnews in Jakarta on Wednesday night, Nov. 11.
He explained that the company’s products average selling price in 2009 reaches US$ 60.61 per ton of coal. The selling price is lower than the price in 2008, reaching US$ 73 per ton. Meanwhile, the selling price in 2007 only reached US$44 per ton.
In 2007, the company’s profit was boosted hitting US$ 317 million due to the asset selling of PT Arutmin Indonesia and PT Kaltim Prima Coal (KPC).
“We are convinced that we can have higher profit [than 2007 profit] in 2009,” he added.
Source: Viva News
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Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
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