PTBA reports higher Q1 coal sales, production

State-owned coal miner PT Tambang Batubara Bukit Asam (PTBA) reported on Monday its production in the first quarter 2008 reached 2.15 million tons, up eight percent from the same quarter of last year.

Coal sales in the first quarter 2008 reached 2.69 million tons, slightly increased by one percent from last year, PTBA?s investor relation officer Juandi told Petromindo.Com.

PTBA?s trading units sold 180,000 tons of coal in the first quarter, he said.

The company?s first quarter net income climbed sharply to Rp 286 billion (1US$ = 9,240), from Rp 199 billion a year earlier due to higher selling price, the company said in a statement. (denny)