PT United Tractors Tbk. (UNTR), a subsidiary of PT Astra International Tbk. (ASII), has achieved significant growth in its coal and gold businesses, with notable increases in production, overburden removal, and sales.
UNTR's mining contractor division, operated by PT Pamapersada Nusantara (PAMA), reported an 18.07 percent rise in coal production volume from January to May 2023, reaching 47.7 million tons compared to the previous 40.4 million tons.
"As of May 2022, the volume of overburden removal (OB) work has increased by 20.29 percent to 426.3 million bank cubic meters (bcm) from the previous 354.4 million bcm," stated the UNTR management in their monthly report released on Monday (26/6/2023).
In May 2023, the average stripping ratio improved to 8.7 times, up from 8.5 times in the previous month. Total coal production for May 2023 reached 10.7 million tons, compared to 10.2 million tons in the previous month, while OB volume increased to 93.4 million bcm from 87.2 million bcm in April 2023.
UNTR's coal mine, operated by PT Tuah Turangga Agung (TTA), reported sales of 5.24 million tons as of May 2023, representing a 1.94 percent increase from the same period in 2022 when sales amounted to 5.14 million tons.
In May 2023, coal sales reached 947,000 tons, consisting of 707,000 tons of thermal coal and 240,000 tons of metallurgical coal. However, coal sales slightly decreased from April 2023, which recorded 1.31 million tons.
UNTR management further explained that as of May 2023, they sold a total of 2,669 units of heavy equipment under the Komatsu brand, marking an 11.21 percent increase compared to the same period last year when they sold 2,400 units. The surge in heavy equipment sales was driven by growing demand from the mining and construction sectors.
Among the total heavy equipment sales, 64 percent were absorbed by the mining sector, 15 percent by the construction sector, 11 percent by the forestry sector, and the remaining 7 percent went to the plantation sector.
"Komatsu sales in May 2023 reached 553 units, and Komatsu's market share as of May 2023 accounted for 32 percent in the heavy equipment market," stated UNTR management.
Additionally, UNTR's gold mining division, managed by PT Agincourt Resources, reported total gold sales equivalent from the Martabe gold mine amounting to 92,198 troy ounces as of May 2023. This figure represents a 23.68 percent decrease compared to the same period in 2022 when sales reached 120,806 troy ounces.
Image source: dok. UNTR
