PTBA, IP to complete 2010 coal price negotiation

IDX-listed coal mining company PT Tambang Batubara Bukit Asam (PTBA) is expected to complete a negotiation with PLN?s subsidiary PT Indonesia Power (IP) on coal supply for this year in February, the company?s official said on Friday

Corporate Secretary Achmad Sudarto told Petromindo.com that the price negotiation is still ongoing. ?PTBA?s price will be based on current index,? he said without giving further details weather PTBA is proposing to raise its price or not.

But in October last year, PTBA said that it would propose to raise its 2010 coal price to IP.

PTBA charges Indonesia Power Rp.884,000 (US$=Rp 9,300) per ton CIF.

The firm expects to supply a total of 6.1 million tons to the electricity firm this year, similar to last year?s volume, he said.

Meanwhile, PTBA is also planning to increase its exports to China and India to a total of about 1-2 million tons this year, a significant increase compared to last year?s exports of less then 1 million tons. ?Detail figures are still being calculated,? he added. (denny)