It is reported that Tambang Batubara Bukit Asam, the state controlled coal miner, is optimistic that net income and revenues will exceed its original forecasts.

Mr Achmad Sudarto finance director of Tambang Batubara Bukit Asam said that "We hope that we can exceed our revenue and net income target."

The company targeted its revenue to reach IDR 15 trillion in 2012, with net income at IDR 3.6 trillion. The company's target for coal production is 17.42 million tonnes for 2012, with coal sales at 18.7 million tonnes. The company will sell 70% of its product in the domestic market. Local consumers include power company Perusahaan Listrik Negara.

Tambang Batubara Bukit Asam has said that as demand from China, the world’s second largest economy, falls, it may have to boost its overseas sales to India.

Net income at PTBA fell by 3% to IDR 1.56 trillion, in the first half of 2012, from IDR 1.61 trillion in the same period of 2011. The company attributed the fall in the net income to falling price of coal in the global market.

The average selling price of coal was IDR 781,043 per tonne in the first half of 2012, from IDR 785,043 per tonne in 2011. PTBA expects its coal production to reach 50 million tonnes by 2016.

The company has a joint venture with state railway operator Kereta Api Indonesia to transport coal from Muara Enim, where PTBA is based, to the Tarahan and Kertapati ports in southern Sumatra.

PTBA is competing with rivals, such as Adaro Energy, Harum Energy and Bumi Resources.

Source - The Jakarta Globe

(www.coalguru.com)

Miner/Steam Coal/Indonesia