PTBA aims to increase 2008 coal sales, prices by 20 percent

Indonesian Stock Exchange (ISX)-listed coal mining firm PT. Tambang Batubara Bukit Asam (PTBA) said on Tuesday its sales for the entire 2008 had been contracted with sales volume expected around 13 million tonnes.

Corporate Secretary Eko Budhiwijayanto said the planned sales would come from the company?s mines and trading unit.

Eko said PTBA?s trading unit sales volume would be around 1.8-2 million tonnes and the rest would come from mines production.

The company?s trading unit PT.Bukit Asam Prima sources its coal from Kalimantan, Sumatra suppliers.

Eko said 70 percent of the company?s sales would go to domestic market, mainly to Suralaya power plant in Banten, the rest would go to traditional markets such as Japan, India, Malaysia, Thailand and Philippines.

In 2007, the company?s sales volume is expected at around 10.8 million tonnes.

CEO Soekrisno said the company is seeking price increase of 15-20 percent from current average price of US$41.68 per tonne.

PTBA is currently in talks with Suralaya over 2008 coal supply price and PTBA is looking to increase coal prices by 28-29 percent. (denny/godang/bernard)