Adaro sees selling price to soar in 2009

South Kalimantan coal miner PT. Adaro Indonesia expects average selling price to soar to US$52 per tonne (FOB) from $39 per tonne this year, parent company official said.

Adaro Energy Vice president Director Christian Ario Rachmat told Petromindo.Com on Monday that the increase was due to strong global thermal coal market.

Christian said in 2008 Adaro would produce 40 million tones of coal, ramping up to 45 MT in 2009. Adaro is planning ambitious plan to double output to 80MTPA within the next five years.

Adaro will spend $500 to build 68-km overland belt conveyor with capacity of 40MTPA and 2x30MW mine-mouth power plant to power the conveyor.

Adaro, which is currently Indonesia?s single mine producers currently exports 70 percent of its output exported to Asia-Pacific and Europe.

Adaro Energy is planning to float its shares at the Indonesian Stock Exchange in July this year to raise US$1.3 billion. (denny)