ATPK Resources seeks Chinese coal upgrading technology

IDX-listed coal mining firm PT ATPK Resources Tbk is seeking to form cooperation with a Chinese technology vendor to increase the calorific value of its coal output in a bid to expand its market, Bisnis Indonesia reported Saturday.

The paper quoted company Corporate Secretary Andreas Andy S. as saying that the company sells its entire low rank coal output to local trading firm PT Bara Jaya Utama, which then sells it to India.

No details were provided about the planned cooperation with the Chinese firm. Elsewhere, Andreas said that the company was also interested to acquire high calorie coal concession, but added that it would not be its immediate focus this year as the company would concentrate on increasing production.

He said that ATPK expected sales volume this year to reach 3 million tons. No comparative figure was given by the company, which last year booked a net profit of Rp 12.67 billion from a net loss of Rp 21.56 billion in the previous year. (*)