Bukit Asam Q4 net income triples

Bukit Asam Q4 net income triples

JAKARTA: PT Tambang Batubara Bukit Asam, a state-controlled
Indonesian coal miner, almost tripled net income in the fourth
quarter because of higher demand for thermal coal burned to
produce electricity.

Net income rose to Rp 151.93 billion (US$16 million) in the
three months ended Dec. 31, from Rp 53.75 billion a year earlier,
according to figures derived from full-year earnings published
today by the Tanjung Enim, South Sumatra-based company.

Indonesia's thermal coal exports rose 15 percent last year as
rival China limited supplies, leading utilities to seek fuel from
other producing nations and sending prices to a record. --
Bloomberg