PTBA?s H1 average coal selling price down by 20%
Friday, July 23 2010 - 01:29 AM WIB
The company?s first semester average coal selling price for export market is also down 41 percent to US$61.15 per ton from $74.16 per ton in the same period of last year.
The decreasing coal price for export market due to the increase of selling of sub-bituminous coal from its largest coal mine in Tanjung Enim, South Sumatra, and lignite coal from its trading firm PT Bukit Asam Prima and its 51 percent stake in East Kalimantan PT Indonesia Prima Coal (IPC).
PTBA?s coal is mostly going to domestic market under long term contract such as Suralaya power plant in Banten (5.5-6.1 million tons), Bukit Asam power plant in South Sumatra (1.1-1.2 million tons) and Tarahan power plant in Lampung (750,000-800,000 tons).
The company is expected to increase average coal selling price in the next semester because international benchmark price is also increasing in 2010 to $98 per ton from $70 per ton in 2009.
PTBA?s coal sales in the first semester reached 6.44 million tons, up 10 percent compared to the same period of last year at 5.84 million tons.
The company said it targeted coal sales to increase by 15 percent to 14.5 million tons this year. In an earlier announcement PTBA said it plans to sale 15.6 million tons of coal this year. (denny)