Banpu sees Indonesian coal sales to slightly increase in 2009
Monday, November 24 2008 - 02:24 AM WIB
IDX-listed coal-mining group PT.Indo Tambangraya Megah Tbk (ITM) said it planned to sell 20.5 million tonnes of coal in 2009, slightly increased compared with 2008 sales target of 19 million tonnes.
The company said in a presentation filed with the IDX on Friday that 80 percent of its 2009 planned sales had been contracted and 47 percent had been priced.
The company estimated its 2008 average selling price of US$74 per tonne (FOB).
The company predicted that global thermal coal demand will soften slightly in 2009 due to worldwide recession, while supply will increase as some met coal would be sold as thermal coal.
ITM is a subsidiary of Thai energy conglomerate Banpu PCL. (denny)