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26 Jun 2013 07:00
26 June 2013
For Immediate Release
Bumi plc ("Bumi" or "the Company")
Trading Update for the 4 month period to April 2013
·; On track to reach 2013 production target of 23 million tonnes
·; Production up 27% against year to date 2012
·; Stripping ratio down 21% against year to date 2012
·; Production cost of sales down 9% against year to date 2012
·; Launch of first phase of benchmarking and asset optimization programme
Bumi is pleased to report a continued strong operational performance at PT Berau with April 2013 production at 2.0mt, taking year to date ("YTD") production to 7.3mt, an increase of 27% against the prior year period. The YTD stripping ratio was 8.5 which is 21% lower than YTD April 2012 at 10.8. Production cost of sales in April 2013 was $36.0/t, taking YTD April 2013 production cost of sales to $36.4/t, down 9% against YTD April 2012, with the decrease driven by the lower stripping ratio, fuel costs and reduced haulage distances.
Average selling price ("ASP") was $62.9/t in April 2013, with YTD April 2013 ASP of $63.1/t 19% lower than the same period last year.
Berau Coal Unaudited | YTD April 2013 | Q1 2013 | YTD April 2012 | Q1 2012 | YTD APR 13 v YTD APR 12 |
Coal mined (mt) | 7.3 | 5.3 | 5.8 | 4.1 | 27% |
Sales (mt) | 7.5 | 5.5 | 6.1 | 4.6 | 21% |
FOB average selling price ($/t) | 63.1 | 63.2 | 77.8 | 78.3 | (19%) |
Production cost of sales ($/t) | 36.4 | 36.6 | 39.9 | 39.22 | 9% |
Stripping ratio (bcm/t)1 | 8.5 | 8.4 | 10.8 | 10.6 | (21%) |
1 Bank cubic metres (bcm) of overburden removed per tonne of coal mined
2 Restated
The Company expects to report its half year results on 29 August 2013.
-Ends-
For enquiries, please contact:
Bumi plc:
Jayesh Pankhania
+44 (0) 20 7201 7500
RLM Finsbury
Ed Simpkins / Charles O'Brien
+44 (0) 20 7251 3801
ARMS.L (ARMS)
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