March 4, 2020 / 4:30 AM / a month ago

UPDATE 1-Indonesia's Bukit Asam 2019 output rises 10.2%

(Adds CEO comments)

JAKARTA, March 4 (Reuters) - Indonesian state-owned coal miner PT Bukit Asam said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.

Coal sales in 2019 were at 27.8 million tonnes, up 13% from the previous year, as sales to Japan, Hong Kong, Vietnam, Taiwan and Philippines grew and as it expanded to new markets such as Australia, Thailand, Myanmar and Cambodia, the company said in a statement.

For 2020, Bukit Asam is targeting to increase its coal output by 4.1% to 30.3 million tonnes and sales by 7.6% to 29.9 million tonnes.

The company plans to sell 21.6 million tonnes in the domestic market and 8.3 million tonnes for exports.

The higher sales target will be supported by a plan to export 2.3 million tonnes of medium- to high-calorie coal to premium markets.

“Our strategy to face price pressure is to produce more high-rank coal and efficiency,” CEO Arviyan Arifin told reporters.

Arifin added the company plans to invest 4 trillion rupiah ($282.73 million) in 2020, which includes 3.8 trillion rupiah for project development around coal gasification, a mine-mouth power plant, coal transportation and a rooftop solar power. ($1 = 14,148.0000 rupiah) (Reporting by Bernadette Christina Munthe, writing by Fathin Ungku in Singapore; editing by Uttaresh.V)

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