PT Bumi Resources Tbk (IDX: BUMI), Indonesia’s largest thermal coal producer, recently announced that India has remained the biggest buyer of its coal sales in 2019, due in large part to the strong demand arising from the growing Indian economy.
“India topped the list of export coal market and accounted for 21 percent of the company’s total coal sales in 2019, with China making up 18 percent”, stated Dileep Srivastava, a director and corporate secretary of Bumi Resources on Friday.
He further stated that the company’s total exports accounted for 67 percent of its annual sales in 2019, with the remainder sold into the domestic market.
Srivastava also said that the company’s total coal sales were estimated at 88.5 million tons (MnT) in 2019, as compared to 80.3 MnT in 2018. The company’s total coal sales were in line with its previous forecast of 87 – 90 MnT for 2019.
BUMI expects its coal output to be in the range of 91.35 – 94.50 MnT for this year. The company has also mentioned that it plans to boost investment so that its coal output can reach 100 MnT in the coming years.
Bumi Resource is controlled by Indonesia’s diversified Bakrie Group. The company has two coal mining units — PT Kaltim Prima Coal and PT Arutmin.
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