RI coal to boost Banpu

RI coal to boost Banpu

BANGKOK (Reuters): Thailand's biggest coal miner, Banpu Plc, said on Thursday it expected a 20-25 percent rise in revenues for its 2001/2002 financial year ended June 30 after a recent expansion in Indonesia.

Chief Executive Officer Chanin Vongkusolkit told Reuters that coal demand in domestic and foreign markets would remain strong, while a recent 20 percent rise in coal prices helped boost the firm's earnings outlook.

"This year our revenue should grow by 20-25 percent from last year, due mainly to growth in (coal units) in Indonesia," Chanin said in an interview.

Chanin said Banpu was expected to post revenue of 5.5-5.6 billion baht ($120-122 million) in the 2000/2001 fiscal year, excluding gains from selling shares in power firm Cogeneration Plc.

Banpu has a majority stake in six coal mines in Sumatra and Kalimantan, Indonesia, and owns three mines in the north of Thailand.

Chanin said Banpu expected to achieve total coal production of 12 million tonnes in the 2001/2002 fiscal year, of which nine million tonnes would come from Indonesian mines.