Bumi mulls revising coal output target

Petromindo|Thomas

IDX-listed coal giant PT Bumi Resources Tbk is considering to revise downward its initial coal production target this year of around 90 million tons due to the unseasonal rainfall which has hampered production activities.

?We estimate production until end of this year will be between 86 million and 88 million tons,? Bumi Director and Corporate Secretary Dileep Srivastava said as quoted by news portal kontan.co.id Wednesday.

Dileep, however, said that the lower coal production will be compensated with the current rise in the price of the commodity. ?The rise (in price) is almost 40 percent compared to last year,? he said.

In the first semester of this year, the price of Bumi?s coal increased by around 38 percent to US$54.8 per ton compared to $39.8 year-on-year.

Dileep said that the planned production target revision will be made once the third quarter results have come out, expected in November. (*)