Sakari sees increase in 2012 coal output
Monday, March 19 2012 - 08:48 PM WIB
Singapore-listed coal mining firm Sakari Resources expects production from its two mines in Kalimantan to reach 11.5 million tons (MT) in 2012, higher than last year?s production of 10.664 (MT).
According to the company?s presentation released Monday, the Sebuku mine in South Kalimantan will produce 2.5 MT with the balance will come from Jembayan Muarabara mine in East Kalimantan.
The company sells its entire production through its Singapore-based trading company Tiger Energy Trading.
The company reported that 90 percent of its 2012 coal production is already contracted with 50 percent of first semester price locked in. Average selling price in 2012 is expected to range between US$85-90 per ton.
The company?s customers are typically Asian based independent power producers with Sebuku coal sold almost exclusively to Japan customers.
Sakari is 46 percent controlled by Thai state energy firm PTT Group.
Editing by David Mustakim