August 28, 2008

Thai Banpu Q1 profit up by 74% YoY

Thai coal miner Banpu BANP BK said that its coal reserves rose to 334.02 million tonnes in the first quarter of 2008 ended March 2008 as compared to 309 million tonne in first quarter of 2007. Its net profit for the January to March quarter surged by 74% YoY to THB 2.07 billion

Banpu in a statement said that it sold 5.44 million tonnes during the first quarter up by 25% YoY, with almost half or 2.66 million tonnes from Indominco mine in Indonesia. It said that sales from its Indonesian mines accounted for 78.5% of coal sales volume in the first quarter.