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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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