Bayan secures 8.9m tons coal sales in Q1 2015

By Tri Subhki R

IDX-listed coal miner PT Bayan Resources Tbk has secured 8.9 million tons of coal sales volume in the first quarter of 2015. The company sets coal sales volume target for this year at 10 million to 12 million tons.

?By March 31, 2015, we have secured 8.9 million metric tons of coal sales, of which 6.8 million metric tons (76.4 percent) have fixed price at US$52.55 per ton with the calorific value 5,138 kcal/kg, and the rest is floating,? Bayan Director Jenny Quantero said recently.

Bayan?s coal sales target has been on a declining trend amid the current global coal market downturn from 16 million tons in 2012 to 14.7 million tons in 2013, and 12 million tons last year.

Bayan?s coal export markets are India (27 percent), Japan (17 percent), China (16 percent), Taiwan (15 percent), the Philippine (7 percent), Singapore (6 percent), others (12 percent). ?We also start selling our coal to domestic market,? she said.

Editing by Reiner Simanjuntak