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United Tractors (UNTR) Mining Contractor Performance Rises, Gold Sales Fall

market.bisnis.com

Fri 07 Oct 2022, 09:00 AM

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The coal and gold business of PT United Tractors Tbk. (UNTR) experienced a decrease in production and sales volumes until year to date (ytd) until August 2022.

In the mining contractor business run by PT Pamapersada Nusantara (PAMA), this issuer coded UNTR shares recorded a decrease in production volume of 72 million tons of coal for 8 months in 2022. This production volume decreased by 8.51 percent, from coal production in the same period last year of 78.7 million tons.

Meanwhile, on a month-to-month (mtm) basis, PAMA's coal production in the August 2022 period was 11.3 million tons, an increase from 10.5 million tons in July 2022.

In addition, PAMA also recorded 607.4 million bank cubic meters (bcm) of surface layer stripping or overburden (OB) removal until August YTD, 2022. This number is up from last year's OB production of 558.6 bcm.

Meanwhile, in August alone, the company's OB volume was recorded at 88.2 million bcm, from 82.4 million bcm in July 2022.

In the coal trading business through its subsidiary PT Tuah Turangga Agung (TTA), UNTR posted a sales volume of 7.3 million tons of coal year to date until August 2022, down 1.63 percent from the same period in 2021 of 7.42 million tons. Sales in August 2022 fell to 727,000 tons, from 765,000 tons in July 2022.

Meanwhile, in the gold business line through PT Agincourt Resources, UNTR sold 192,474 gold equivalent ounces (GEOs) until August 2022 on a YTD basis. This number is down 16.6 percent from the same period last year of 230,854 GEOs.

The company's gold sales volume in August 2022 decreased with sales in July 2022, which was 24,000 GEOs, from 25,000 GEOs in July 2022.

Source: https://market.bisnis.com/read/20221003/192/1583718/kinerja-kontraktor-tambang-united-tractors-untr-naik-penjualan-emas-turun

Image source: market.bisnis.com

Source Link: https://market.bisnis.com/read/20221003/192/1583718/kinerja-kontraktor-tambang-united-tractors-untr-naik-penjualan-emas-turun

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