Bayan Q1 coal production soars on contribution from newly producing mines

IDX-listed coal mining group PT.Bayan Resources produced and sold 2.4 million tonnes of coal in the first quarter of 2009, 33 percent higher than 1.8MT target set for the quarter and almost double last year?s corresponding production of 1.3MT.

The company said production increase was mainly contributed by newly-producing mines such as Wahana Baratama Mining, Perkasa Inakakerta and Teguh Sinar Abadi/Firman Ketaun.

The company, according to its first quarter presentation released on Tuesday, sold its coal to India, Italy, Japan, Korea and Taiwan.

Bayan expects to so sell 10MT of coal this year, compared to 6.7MT last year.

Average selling price for the quarter was US$62.3 per tonne, higher than last year?s same quarter average price of $59.5 per tonne. The company expects average selling price for this year at around $60 per tonnne.

Bayan operates coal mines in South and East Kalimantan.(denny)

Mine	Q1 2009 Production (million MT)
Gunungbayan Pratamacoal (GBP) Block II & I	1
Teguh Sinarabadi (TSA) / Firman Ketaun Perkasa (FKP)	0.2
Perkasa Inakakerta (PIK)	0.4
Fajar Sakti Prima (FSP)	0.3
Wahana Baratama Mining (WBM)	0.5
Total	2.4