PTBA Q1 sales volume up 17%

IDX-listed coal miner PT Bukit Asam Tbk (PTBA) said that coal sales volume during the first quarter of this year rose by 17 percent to 4.51 million tons compared to 3.85 million tons in the same period of last year.

The company said in a statement Monday that this was about 99 percent of the quarterly sales volume target of 4.60 million tons.

PTBA said that first quarter achievement gave optimism to meet full-year target of 20.68 million tons, or a 35 percent increase compared to last year?s 15.3 million tons. The increase in railway transport capacity from the mines in South Sumatra to the ports in Lampung will also give support to achieving the full-year target, it said, while adding some of the planned 44 new locomotives for this year operated by state-owned rail firm PT Kereta Api have arrived in April.

PTBA said that the expected 1 million tons output from its subsidiary PT IPC Kalimantan Timur, and coal purchases from third parties, estimated at 295 million tons, will also support in meeting this year?s sales volume target.

Elsewhere, the company said that the ongoing construction of an 80-km double track railway linking Tanjung Enim and Prabumulih in South Sumatra, combined with the increase in the number of locomotives will increase the company?s coal transport capacity of 22.7 million tons per year, which hopefully could be realized starting 2014.

Editing by Reiner Simanjuntak