SYDNEY (Yosefardi) – ASX-listed Orica Limited reported 20% decline in explosive volume (mining services) in Asia for the first half of this year, mainly attributable to a 29% decline in Indonesian volume.
The decline volume in Indonesia was due to weak coal market, selective mining, and the temporary closure of two key mines related to specific customer issues.
However, returns from the Indonesian market was benefited from higher production rates at the Bontang ammonium nitrate plant and cost reduction programs.
Explosives pricing pressure took place in the Indonesian and Indian markets. While higher initiating system product volumes and steady price occured in China market.