Oct 23, 2011

Bumi 3Q coal sales reaches 70%

Indonesia's largest thermal coal exporter PT Bumi Resources Tbk (BUMI) is estimated to achieve 16.5 million tons of coal sales in the third quarter of this yearm a 28% higher than 13 million tons in 3Q last year. 
In the first half of 2011, Bumi recorded 30 million tons of coal sales, counting 45% of its target this year of 66 million tons.
"By end of 3Qm Bumi achieved 70.45% of the annual target," said Director Dileep Srivastava, as quoted by Kontan.com today.
According to him, the company will announce the third quarter's result in November. The company expects a US$92 per ton on coal's average selling price. Referring to the ASP, Bumi's coal sales might reach US$1.5 billion.

Disclosure: No position at the stock mentioned above.

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