Sign up | Log in



Home  >>   Daily News  >>   Indonesia News  >>   Energy  >>   Bumi coal surges
NEWS UPDATES Asean Affairs     22 October  2011

Bumi coal surges

Related Stories

October 18, 2011
Austrian firm pushes Indo hydropower

October 12, 2011
Nigeria plans Indo refinery

October 3, 2011
Indonesia to tax coal exports

August 22, 2011
 Indonesia closes tin tax loopholes

August 2, 2011
Indonesia could lower palm oil tax

Bumi Resources, Indonesia's largest listed coal miner by volume, has said production of thermal coal reached 17 million tons in the third quarter, beating its output in each of the first two quarters.

Bumi sold 16.5 million tons of coal at an average price of $92 to $93 a ton in the third quarter, Dileep Srivastava, a director and corporate secretary at Bumi Resources, said on Friday.

Based on calculations using these latest figures, the Jakarta Globe estimates that the company could post as much as $1.53 billion in sales for the third quarter. Srivastava did not confirm the Globe's estimate.

Srivastava said the Jakarta-based company produced 15.2 million tons in the second quarter and 14.7 million tons in the first.

Bumi expects its net income to exceed market expectations in the third quarter and for the full year, he said.

"We will make a statement by the end of November, but we are happy to say that we have outperformed in terms of sales volume as well as production in the third quarter," Srivastava told the Globe.

The company, he added, is confident that it can beat the net income estimates of a number of analysts surveyed by Bloomberg. He said the estimate was about $470 million to $480 million for the full year. Bumi's net income in the first half reached about $275 million.

Srivastava said there were no signs of slowing demand for coal in Asia and that Japan was buying more of the fuel following the shutdown of the Fukushima Daiichi nuclear power plant after the March earthquake and tsunami.

He expects Bumi to produce 66 million tons of coal this year and sell 64 million tons, up from 60 million tons last year. He also said that the company expected to extract about 75 million tons next year.

By 2014, if all goes to plan, production should reach more than 100 million tons, he said.

Bumi has coal reserves estimated at 2.9 billion metric tons.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    22  October  2011 Subsribe Now !
• Froc: Water situation controllable Subcribe: Asean Affairs Global Magazine
• PM: Floodwater coming to Bangkok Asean Affairs Premium

• Bumi coal surges

Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Dress police draw backlash
• Dam controversy: Remaking the Mekong
• Flash flood in Myanmar
• Muslim rebels kill seven more

• Singapore CFOs inexperienced


Asean Analysis              23  October  2011

Advertise Your Brand
• WEEKLY SUMMARY Sponsor Our Events

Asean Stock Watch      21  October  2011

• Asean Stock Watch-October 21 p

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2021 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand