PT Delta Dunia Makmur Tbk holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama aims to reach 10% to 20% growth in coal production and overburden removal this year.
According to presentation of Delta Dunia Makmur Macquarie conference in Hong Kong, the company is targeting to produce 36.08 million tonnes to 39.36 million tonnes of coal with overburden removal of 305.8 million to 333.60 million bcm in 2010.
Delta Dunia has produced 32.8 million tonnes of coal in 2009 removed 278 million bcm of overburden.
To achieve reach the new target, Delta Dunia will spend USD 150 million to USD 180 million of capital expenditure in heavy equipment.
Delta Dunia's said that "We estimate to secure one new major contract in the first half this year and maintain 40% of EBITDA ratio on net revenue.”
BUMA provides open cut mining services to the large coal producers in Indonesia. Its main customers are PT Adaro Indonesia, PT Arutmin Indonesia, PT Bayan Resources, PT Berau Coal, PT Kideco Jaya Agung, and Lanna Resources.
Delta Dunia had acquired BUMA on November 6 2009. BUMA has signaled that issuance of new tax regulation on withholding tax, increased annual coupon rate for its USD denominated bond from 10% to 20% or USD 3.7 million annually. BUMA, via a wholly owned subsidiary namely Prime Dig, has issued USD 315 million value of bond in November 2009.
(Sourced from www.coalspot.com)
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