Indonesia's biggest coal company PT Bumi Resources Tbk said on Tuesday an additional 442 million tonnes of coal reserves have been discovered in the Pedayak region under the mine concession of its unit PT Kaltim Prima Coal (KPC).Bumi had declared marketable coal reserves of 1.40 billion tonnes as of Oct 1, 2007.
The reserves are now expected to increase by 442 million tonnes to a minimum of 1.84 billion tonnes by August 2008, when it plans to declare its new augmented marketable coal reserves as of June 30, 2008.
The company is expecting its coal sales volume to rise to 62 million tonnes this year from 55.4 million tonnes in 2007, with the average selling price expected to increase to $70 per tonne from $44 per tonne.
Indonesia is the world's biggest thermal coal producer.
source: Antara | 10 June 2008
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