Asia's largest thermal coal exporter expect sales to rise

Indonesia based Bhumi Resources and Asia’s largest thermal coal exporter expects coal sales to rise 8 percent to 74 million tons this year, helping it to back to profit this year after 2012’s heavy losses, an executive said on Thursday.

Dileep Srivastava, a Bumi director said, the company expects to produce 77 million tons of coal in 2013, compared to 74 million tons last year. However, the company sees 2013 output costs rising to $46 per ton from $45 per ton in 2012.

“We now expect to turn around to profit early in the new year”, Srivastava told sources.