Banpu?s Q1 coal sales higher by 51%

Thai energy firm Banpu Plc reported on Tuesday that its Indonesian coal sales volume reached 6.104 million tons in the first quarter of 2010, higher 51 percent compared to the same period of last year at 4.0 million tons.

Coal sales volume totaled 6.156 million tons. Thai mines only contributed 52,000 tons, while the rest of the output were from Indonesian mines.

?While the seasonal rainfall in Kalimantan had weakened coal sale volume by 14% QoQ, the improvement and expansion plan put in place since mid-2009 resulted in an increase in sale volume by 51% YoY,? the company said in statement.

Banpu said, of 6.104 million tons sales recorded by its Indonesian subsidiaries, PT. Indominco Mandiri accounted for 3.65 million tons (2.38 million tons in Q1 2009), PT Trubaindo 1.57 million tons (1.11 million tons in Q1 2009), PT Jorong Barutama Greston 500,000 tons (510,000 tons in Q1 2009) and Kitadin 380,000 tons.

Average coal selling price during the quarter was US$66.27 per ton, decreasing by 21 percent compared to the same period of last year at $84.23 per ton due to the relatively weak market price of coal during mid-2009 when most of the sale contracts were concluded, it said. (denny)