Indonesian coal miner PT Bumi Resources Tbk plans to boost production by more than half over the next four years, reaching 100 million tonnes by the end of the decade, a company official said on Monday.
"We plan to produce 60 million tonnes this year and aim to produce 100 million tonnes by 2010," Bumi's senior vice president of investor relations Dileep Srivastava told Reuters ahead of a Coaltrans conference on the Indonesian resort island of Bali.
Indonesia, which has surpassed Australia as the world's biggest exporter of thermal coal, produced 193.5 million of tonne last year and output is expected to rise 10 percent to around 214 million tonnes this year, an industry group said last month.
Rising exports from Indonesia are expected to help keep a lid on regional coal prices, which have nearly doubled in the past three years due to limited Australian export growth plus rapidly rising demand from China and India.
Bumi agreed in March to sell stakes in two of its biggest mines, PT Kaltim Prima Coal and PT Arutmin Indonesia, to private Indian firm Tata Power Co. for $1.3 billion.Source : asia.news.yahoo.com
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