Bayan targets higher 2011 coal selling price

Indonesia-listed Kalimantan coal mining group PT Bayan Resources said Tuesday that it is expecting an average selling price of US$95-97 per tonne this year, higher than last year's mark of $75.1 per tonne.

The company sold 3.7 million tonnes of coal with average price of $97.2 per tonne during the first quarter of 2011, non-affiliated director Soedjoko Tirtosoekotjo said. The company is targeting to sell around 15.16 million tonnes this year.

The company produced 3.4 million tonnes of coal in Q1, 2011 from the company?s target for full-year of 14.5-15.5 million tonnes, he said.

Last year the company produced 12 million tonnes of coal from its eight coal mine subsidiaries, including PT Gunungbayan Pratama Coal, PT Perkasa Inakakerta, PT Wahana Baratama Mining, PT Teguh Sinar Abadi and PT Firman Ketaun Perkasa.

During the first quarter of this year, majority customers are Japan (35%), India (25%), Malaysia (12%), Italy (7%), Thailand (6%), South Korea (5%), he said .

The company is targeting to produce 20-25 million tonnes of coal in 2013, he added. (giok)