Kideco profits plunge 54% on year in Jan-sept as price weakness hits

摘要

Weaker coal prices have brought the profits of Indonesian miner, Kideco Jaya Agung, down 54% on the year in January-September, to $200.1m from $430.1m, according to the company’s latest results. The low-rank coal producer’s revenue in the period dropped 15% on the year to $1.19 bn from $1.40 bn, aligning with a 15% drop in its average sales price (ASP) to $45.70/t from $54.00/t, as the sales volume was stable at 26.1 mt.