Bukit Asam Q4 net income triples

PT. Tambang Batubara Bukit Asam, a state-controlled Indonesian coal miner, almost tripled its net income in the fourth quarter because of the higher demand for thermal coal burned to produce electricity as reported by Bloomberg.

Net income rose to Rp. 151.93 billion (16 million USD) in the three months ended Dec. 31, from Rp. 53.75 billion a year earlier, according to figure derived from full-year earnings published today by the Tanjung Enim, South Sumatera-based company.

Indonesia?s Thermal coal exports rose 15 percent last year as rival China limited supplies, leading utilities to seek fuel from other producing nations and sending prices to a record. (*)