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ining companies Adaro Energy (ADRO) and Vale Indonesia (INCO) reported higher revenues during the January to September period, thanks to positive sales and production performance.

In a statement published on Thursday, Adaro wrote that its sales volumes had grown 8.3 percent year-on-year to 43.27 metric tons in the first nine months and its production volume had risen at a similar rate, up 8.3 percent to 41.9 metric tons.

The company'€™s newly acquired mine in Balangan, South Kalimantan, contributed 0.59 million tons of coal to the overall production volume, of which most was sold to India and Thailand, according to the statement.

The majority of Adaro'€™s production volume, however, was still generated from its Tutupan mine, which produced 32.15 metric tons of coal. Meanwhile, production from the Paringin and Wara mines amounted to 4.66 metric tons and 4.5 metric tons, respectively.

However, the sales increase was offset by a steady decline in the average selling price (ASP) of coal. Adaro reported that the ASP of coal fell 5 percent compared to the previous year.

Recent data from the Energy and Mineral Resources Ministry also showed that Indonesia'€™s coal reference price (HBA) remained under pressure. In September, the HBA stood at US$69.69 per ton, down from the $81.90 per ton recorded in January.

In total, Adaro'€™s revenue climbed 3 percent year-on-year to $2.51 billion over the first nine months of 2014.

In line with an increase in production, the firm posted higher costs of revenue and higher operating expenses, up 1 percent and 1.7 percent, respectively.

The company'€™s bottom line, however, slumped 30.2 percent on an annual basis to $220.47 million during the nine-month period, a financial report showed. Adaro attributed the stark contrast in profits mainly to a one-off gain posted last year after acquiring the Balangan mine.

The acquisition took place in April 2013, when Adaro'€™s wholly owned subsidiary, Alam Tri Abadi, purchased majority shares worth a total of Rp 3.94 billion ($325,939) in several companies that controlled the mine.

Adaro president director Garibaldi Thohir said that the company expected coal price to remain under pressure in 2015, as the problem of oversupply would persist. Adaro itself, he added, was on track to deliver between 54 and 56 metric tons of coal by year-end.

Meanwhile, nickel miner Vale saw its nickel in matte production surge 1.1 percent to 58,141 metric tons and its nickel matte deliveries stabilize at 58,867 metric tons between January and September.

'€œIn 3Q14 [third quarter of 2014] and over the first nine months of 2014, the company experienced a higher average selling price of 6 percent and 7 percent, respectively, compared to 2Q14 [the second quarter of 2014] and 9M13 [the first nine months of 2013],'€ Vale said in a statement issued Friday.

That, according to Vale, resulted in higher revenue for the company, as its top line climbed 7.1 percent year-on-year to $772.3 million.

Vale said higher selling price and cost efficiencies were the major factors behind the rise in net profit, which jumped almost 300 percent to $130.35 million from last year.

For the remainder of 2014, Vale said that it would focus on improving costs to remain competitive, adding that the recent amendment to its Contract of Work (CoW) would provide greater certainty for its long-term future.

Following the issuance of the financial reports, Adaro'€™s shares rose by 3.2 percent to Rp 1,135 apiece at the stock market, while those of Vale increased 3.1 percent from a day prior to Rp 3,790.