PTBA, PLN settles 2011 coal price, volume

IDX-listed state coal mining firm PT Bukit Asam (Persero), Tbk said on Thursday that it has settled 2011 coal price deal with state electricity firm PT PLN (Persero).

CEO Soekrisno said that PTBA would supply 6.1 million tonnes of coal to PLN?s Suralaya power plant in West Java with price of Rp.815,000 per tonne (CIF) (US$ = Rp.8,800) with CV of 5,000 kcal/kg . Last year PTBA charged Rp.685, 000 per tonne for the same coal.

PTBA supplies coal to Suralaya under long-term contract which price is negotiated on annual basis.

PTBA has also agreed to sell 1 million tonnes of coal to PLN?s Bukit Asam power plant in South Sumatra and 700,000 tonnes to Tarahan power plant in Lampung at 2011 price of Rp.575,000 and Rp.729,325 per tonnes (FOB), respectively, said Soekrisno, adding that the CV of coal supplied to both power plants is 5,000 kcal/kg.

He also added that PTBA has also agreed to supply additional tonnage of 1 million tonnes of 4,900 kcal/kg coal for PLN for April-December 2011 period with price of Rp.740, 211 per tonne (FOB Tarahan port).

PTBA is targeting to produce 16.6 million tonnes this year. (giok)