KPC aims to increase Japan market share

East Kalimantan coal-mining firm PT.Kaltim Prima Coal (KPC) said on Monday it was seeking to increase sale to Japan to tap the country?s better pricing and financially sound buyers.

?KPC is aiming to increase market share to Japan from 26 percent currently to 45-50 percent within the next few years,? said KPC?s newly appointed president Ari S Hudaya, who is also president director of KPC?s new parent company PT.Bumi Resources.

Ari said market share increase to Japanese market would ensure higher prices and stable revenue for KPC.

Ari said the KPC would appoint one agent to handle sales in Japan market. ?We are currently in talks with three Japanese trading powerhouse; Mitsui, Mitsubishi and Sumitomo,? said Ari. KPC would pick the one, which offer best proposal.

KPC had appointed Switzerland-based company Glencore AG to act as its agent to Europe and United States.

According to Ari, currently, KPC sells 38 percent its product to Europe, 26 percent to Japan and the rest to Asia Pacific and USA market.

KPC is also aiming to increase production from 18 million tons per annum currently to 23 million next year.(alex/godang)