Berau Coal to lower spot sales next year

Indonesia-listed coal mining firm PT Berau Coal Energy Tbk will allocate 30 percent of its total coal sales in 2012 from its coal mine, PT Berau Coal to spot market, the parent?s company said on Wednesday.

President director, Rosan Perkasa Roeslani said that the allocation for spot market is expected to decrease, compared to this year?s allocation of 35%.

Rosan said that Berau is expecting to produce 23 million tonnes of coal next year with average selling price at around $80 per tonne, slightly lower compared to this year?s average of $81 per tonne.

During 3Q this year, Berau has an average selling price of $87 per tonne, he added.

Of the target 23 million tonnes in 2012, around 90 percent has been contracted but he said without elaborating further whether the contract has a fixed-price or not. (giok)