PTBA reports increase in coal production and prices

IDX-listed state coal miner PT Bukit Asam (Persero) announced on Tuesday that its fisrt half 2011 coal sales reached 6.54 million tonnes, 2 percent higher than last year?s corresponding period.

The company sold 66 percent of its coal to domestic market and the rest to export market.

The company?s domestic average coal sales price during the period increased by 27 percent to Rp.760,554 (US$ 1 = Rp.8,500) while export market average price increased by 62 percent to US$ 98.83 per tonne.compared to same period in the previous year

Net profit increased by 77 percent to Rp.1.6 trillion.

The company produced 6.19 million tonnes of coal during the period, including 0.24 MT from its mine in East Kalimantan, an increase of 6 percent compared to same period.of last year. The company?s third party coal purchase during the period decreased to 0.33 MT from 0.44 MT of the previous year.

The company produces majority of its coal from its Tanjung Enim mine in South Sumatra.(alex)