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Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS


Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan Listrik Negara (PLN) at up to 25 percent higher than a year ago.

The firm said in a statement it would supply 1.1 million tonnes of 5,000 kcal/kg gross as-received (GAR) coal to PLN's Bukit Asam mine mouth power plant in South Sumatra at 407,500 rupiah ($39.83) a tonne, up 25.4 percent from 325,000 rupiah a tonne last year.

It also sold 750,000 tonnes of coal of similar calorific value to PLN's Tarahan power plant in South Sumatra at 525,000 rupiah a tonne, up 20.3 percent from 436,500 rupiah a tonne in 2008.

Bukit Asam expects its revenue to grow by 20 percent this year on the back of higher prices and volumes.

The firm is targeting a 13 percent rise in coal sales to 14.5 million tonnes this year.

The company -- Indonesia's third-largest listed coal miner by market value -- has said it planned to increase coal production to 50 million tonnes a year within five to six years helped by mine acquisitions and a railway expansion plan

Source: http://www.reuters.com/article/rbssEnergyNews/idUSJAK47174720090602



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