December 23, 2019 / 10:56 AM / a month ago

Indonesian Bukit Asam targets to mine 30 mln T of coal in 2020

JAKARTA, Dec 23 (Reuters) -

* Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 million tonnes produced this year, its director told reporters on Monday

* Adib Ubaidillah, Bukit Asam’s director of commerce, said 60% of the 2020 targeted production will be bought by state power utility PLN and 30% will be shipped overseas, mostly to India

* “We will let the rest, the 10% float on the spot market,” he said

* Meanwhile, Bukit Asam has decided to scrap a plan to build a coal gassification project in Riau on Sumatra island and focus on plants it is building near its mine in Tanjung Enim, South Sumatra, for efficiency reasons, CEO Arviyan Arifin said

* Bukit Asam will partner with state oil and gas company Pertamina and Air Products and Chemicals Inc, a U.S. firm, for the Tanjung Enim project, which is expected to be operational around 2023-2024, Arifin said

* The three companies will also form a joint venture for a petrochemical complex that will produce methanol, ethanol, fertilizers, etc, the CEO said, expecting a total of $3.5 billion capex for the two projects (Reporting by Wilda Asmarini Writing by Gayatri Suroyo)

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