PTBA?s nine-month sales volume up 17%

By Ruli Setiawan

IDX-listed coal miner PT Bukit Asam (PTBA) said that sales volume in the first nine months of this year increased by 17 percent to 13.24 million compared to 11.36 million tons in the same January-September period of last year.

Company President Director Milawarma told a press conference Thursday that export during the period jumped by 36 percent to 7.02 million tons, accounting for 53 percent of the total sales volume. In comparison, export during the January-September period of last year accounted for only 45 percent.

The largest export markets were Taiwan (31%), India (26%), and China (17%). Other export markets include Malaysia, Japan, and Vietnam.

Milawarma said that the company?s strategy in coping with the current downturn in the global coal market is by focusing on selling high calorie coal which carries higher prices, and took efficiency measures including cutting down stripping ratio.

PTBA held a shareholders meeting on Thursday, appointing Agus Suhartono as Chief Commissioner and Independent Commissioner, replacing Patrialis Akbar.

Editing by Reiner Simanjuntak