Bumi expects to sign contract with Japan's customer in April

By Cepi Setiadi

Petromindo|Thomas

IDX-listed coal giant PT Bumi Resources Tbk stated that the company is in talks with a Japanese customer for the supply of low and medium calorific value (CV) coal.

Company Director Dileep Srivastava told Petromindo.com on Thursday that the negotiation with the Japanese customer is for contract period of April 2017 to March 2018.

"We are still in talks with Japan customer, not yet finalized," Dileep said, adding that the quantity is usually between 10 million and 15 million tons.

He said that the new contract is expected to be signed in April 2017.`

Earlier, Dileep said the company?s coal export to Japan last year was roughly around 12 million-13 million tons. ?This year it may increase by up to 10 percent to around 13 million to 15 million tons,? he said.

Bumi?s total export volume last year is estimated at around 88 million tons. The company aims to produce around 94 million tons of coal this year from subsidiary PT Arutmin and PT Kaltim Prima Coal.

Editing by Reiner Simanjuntak