PTBA raises 2008 export prices

JSX-listed state coal miner PT.Tambang Batubara Bukit Asam (PTBA) said on Thursday said it had raised coal export prices for 2008 by 40-45 percent compared to last year.

The company?s average export price for last year was US$47.5 per tonne FOB.

The new prices had been effective beginning of January this year, except for Japan, which will be effective in April,? Nurtimah Tobing, Head of Investor Relations told Petromindo.com.

Tobing said some 70 percent of 2008 export volume, which is expected to reach around 3.5 million tones, had been settled with new prices.

PTBA does not have long-term export contract, she said.

Tobing also said that PTBA is currently negotiating for 30 percent price increase with PLN?s power plants Bukit Asam 4x65MW in South Sumatra and Tarahan 2x100-MW in Lampung.

Tobing said 2007 price for Bukit Asam power plant was Rp.257,000 per tonne (CIF) (US$ =Rp.9,100) with requirement of 1.1 MTPA, while 2007 price for Tarahan was Rp. 337,000 per tonne (CIF) with 800,000 TPA requirement.

?We hope to settle negotiation before the end of this quarter,? Tobing said.

PTBA has 10-year contract to supply both power plants, with price adjusted annually. (denny)