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Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT


PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a contract in 2010,” the company’s spokesperson, Dileep Srivastava told Tempo in Jakarta yesterday.

Nevertheless, the company is still optimistic that it can produce a high-priced contract within a short time. “We are negotiating with potential buyers,” Dileep said. With the high coal prices, the company has a chance to increase its performance compared to last year’s.

According to Dileep, as the biggest coal mining company in Indonesia, the company is certain that it can sell more coal and use the momentum of the price increase. Based on estimates of the spot market Newcastle Coal Index, the price of coal this year can top US$ 100 per ton.
Source: Tempo Interactive



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