November 15, 2017 / 6:27 AM / 4 days ago

Indonesian coal miner Bumi expects 5 pct rise in 2018 output

JAKARTA, Nov 15 (Reuters) - Indonesia coal miner Bumi Resources estimates its output will rise to around 95 million tonnes in 2018 from between 88 million and 90 million tonnes this year, a company director said on Wednesday, amid an improving price outlook for the fuel.

Bumi had not officially revised its earlier guidance of up to 94 million tonnes this year, Bumi director Dileep Srivastava told Reuters.

But with “unusually heavy rainfall” the company hopes to achieve sales of between 87 million and 88 million tonnes of coal in 2017, he said.

Higher coal prices this year compared to a year ago would compensate for the flatter than expected output volumes, Srivastava said, adding that the company is focusing on restructuring debts and addressing “governance perception issues”.

The company gained approval in July from Indonesia’s financial regulator to restructure $2.6 billion in debt. (Reporting by Fergus Jensen; Editing by Joseph Radford)

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