Bumi 1Q coal sales estimated US$1.22b - Insider Stories

Indonesia's coal miners Berau Coal Energy and Bumi Resources are calculated to post US$304.63 million and US$1.22 billion in coal sales in the first quarter of this year.

Berau Coal, Kaltim Prima Coal (KPC), and Arutmin Indonesia today reported a 9% increase, slight decreased of 9.2% and 0.5% respectively in coal production to 4.1 million tons, 8.2 million tons, and 6 million tons respectively in the first quarter of this year, a document provided by Bumi Plc revealed today.
Berau, KPC, and Arutmin posted average selling prices (ASP) of US$74.3 per ton, US$92.8 million per ton, and US$77.1 per ton in 1Q 2011. Referring to the ASP, Berau is calculated to book US$304.63 million in coal sales and US$1.22 billion for KPC and Arutmin.

PT Berau Coal Energy Tbk, that is 75% owned by London-listed Bumi Plc, previously Vallar Plc, recorded 4.1 million tons coal production in 1Q 2011 from 3.76 million tons. Overburden removal increased 33.3% in 1Q 2011. Berau sales increased 53%.
PT Kaltim Prima Coal, that is 65% owned by PT Bumi Resources Tbk (BUMI), produced 8.2 million tons from 9.03 million tons. Overburden removal was 1% higher in 1Q 2011.
Bumi is 25% owned by Bumi Plc. PT Arutmin Indonesia, which is 70% owned by Bumi, produced 6 million tons from 6.03 million tons. Arutmin's overburden removal rose 37%.

Outlook for 2011
Berau Coal is expecting to produce 20.4 million tons in 2011 compared with 17.4 million tons in 2010. Referring to 1Q production figure, Berau reached 20.09% of the target this year.
KPC and Arutmin are expecting to produce 66 million tons this year from 60.4 million tons last year. At end of 1Q 2011, KPC and Arutmin reached 21.51% of the full year's target.