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• Bumi, one of the largest miners in Asia, is set to produce 80-85 mt coal in 2012, up 21-29% from 66 mt last year, mainly by deepening existing mines in IndonesiaIndonesian coal miner PT Bumi Resources Tbk is likely to restrict exports to resource-hungry India to 16-18 million tonnes (mt) a year to limit exposure to any one market, a top company official said.Bumi, one of the largest miners in Asia, is set to produce 80-85 mt coal in 2012, up 21-29% from 66 mt last year, mainly by deepening existing mines in Indonesia.
• “The only way to meet our target in a growing market is to increase our production,” Nalinkant Rathod, commissioner, Bumi, said on the sidelines of a seminar in New Delhi. “We plan to go up to 150 mt by 2013 between ourselves and our associates.”Indonesia is the world’s second largest exporter of coal after Australia and sold 162 mt of the fuel in 2010, World Coal Association data shows.However, the miner, in whose trading companies Tata Power Co. Ltd owns stakes, is not looking to sell more coal to India despite its need for more supplies to bridge a growing deficit, according to Rathod.
• “We have contracts to supply 15-16 mt of coal this year into India with Tata Power and the Adani group,” Rathod said. “We have a policy of giving a certain market no more than 20% of our production. So 16-18 mt is the maximum we would sell to India.”Although Bumi does not forecast coal or freight prices, Rathod said the firm does not see coal prices dropping below $100-120 a tonne.Indonesia might raise export tax on coal, he said. “There is a possibility that the Indonesian government might put an export tax. I don’t know how much could be the hike in percentage terms or when it might come,” Rathod said. “They are talking about 4% or so.”

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