• Most Popular
  • Most Shared

Indonesia's Bumi confirms $132/tonne coal deals

Thu May 15, 2008 10:13pm EDT

Stocks

   

JAKARTA, May 16 (Reuters) - Indonesia's largest coal miner, PT Bumi Resources Tbk (BUMI.JK), confirmed that it has signed 2008 coal deals with some Japanese utilities at $132 a tonne.

Dileep Srivastava said by email that the agreed price was 140 percent above 2007 prices.

Traders said on Thursday that the company has negotiated a 120 percent price hike for 2008 thermal coal deliveries to some Japanese utilities.

Two industry sources also said the firm had agreed to sell 5 million tonnes of thermal coal at $132 a tonne to some Japanese utilities, while other Japanese utilities have signed index-linked supply contracts with Bumi at $6 above the globalCOAL benchmark index. (Reporting by Harry Suhartono, editing by Ed Davies)



More from Reuters

Photo

Senate on track to pass healthcare bill

WASHINGTON (Reuters) - Senate Democrats moved closer on Monday to passing landmark healthcare legislation by Christmas after scoring a win in the first big test vote and gaining the support of a powerful lobbying group for doctors. | Video

» More Top News
A view of a cemetery for foreign prisoners in the settlement of Spassk in central Kazakhstan December 10, 2009. REUTERS/Shamil Zhumatov

Despair in the Kazakh steppe

In icy Kazakhstan, barbed wire and crumbling barracks stand in testament to the decades of cruelty millions of ethnic Germans endured in Soviet gulag camps during Stalin's Great Terror campaign.  Full Article | Slideshow 

World
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review