Bayan expects lower coal output, price in 2013

By Edgar Subroto

IDX-listed coal mining group PT Bayan Resources expects coal output to be slightly lower this year to about 15-16 million tons from last year?s total output of 16.3 million tons, a company official told Petromindo.Com

Despite plans to lower its coal output, Bayan aims to maintain its coal sales volume at 16 million tons of coal, same with last year?s total sales as the company reduces inventory, the source said.

Bayan predicted that average selling price for this year will be lower compared to the average selling price in 2012 of $88.6 per ton.

As of March 2013, the company has produced 3.3 million tons of coal, down from 3.9 million tons in the same period of 2012.

Bayan has the exclusive rights to mine under five CCoWs, thirteen IUPs, and four more IUPs upon the completion of the IBU/ Kangaroo transaction, which are located in East and South Kalimantan.

Currently most of the coal comes from its CCoWs mines, namely, PT Gunungbaraya Pratamacoal, PT Wahana Baratama Mining, PT Perkasa Inakakerta, PT Teguh Sinarabadi, PT Firman Ketaun Perkasa and FTB concessions in Tabang.

Editing by Reiner Simanjuntak