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Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
ReutersIndonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a statement issued at the weekend.
 
Bumi sold 21.5 million tonnes of coal in January-March, up 3% from the same period last year, it said in the statement.
 
The company’s average selling price however fell 6% to $49 per tonne, due to the “coronavirus (outbreak) and lockdown in many countries which affect coal demand,” according to the statement.
 
Bumi’s inventory stood at 2.3 million tonnes at the end of the first quarter, versus 4.1 million tonnes a year earlier.
 
The company has estimated 2020 coal output at 85 million to 90 million tonnes
Source: Reuters (Reporting by Fransiska Nangoy)


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