Baramarta reports slightly lower coal sales in Q2

South Kalimantan coal miner PD Baramarta said on Tuesday that its second quarter coal production reached 715,620 tons, same with the year-ago output, the company official said.

The company?s coal sales reached 715,444 tons in the second quarter, lower around 7% compared to the same period of last year, operations data officer Teguh Himmanulah told Petromindo.Com.

Total production until first semester of this year is about 1.69 million tons, which is 20% below the company?s target, he said, citing the global slowdown as coal price downturn as the reason behind declining coal production.

But he said that the company still on track to reach the coal production target of 4 million tons for this year.

For the third quarter the company targeted coal production around 1.2 million of coal, he added.

Baramarta sells its entire coal production through traders PT Prima Multi Minerals and PT Prima Multi Trada under 5-year contracts that will end in 2011. The company negotiates its coal price annually.

Baramarta produces coal with CV content of around 6,300-6,500 Kcal/kg (ADB). (denny)