Such conditions had a significant impact in the prices of various commodities in the international market, with no exception to coal as its price suffered a subsector reduction in 2009. Although an increase in price occurred, the movement was considered to be slow. Throughout 2009, the average global price for coal in the international spot market, as per Newscastle index, ranged between US$ 60 – US$ 86 per ton, which was far below the previous year. Such conditions, worsened by a high rainfall rate, became great obstacles in coal mining, which was unfavorable for all business players within the coal subsector, in terms of projecting their profit.
However, amidst such turmoil, BUMI continued to grow solidly. Through the various efforts made, the Company’s management was able to restore the investors’ trust. As a result, BUMI’s stock performance went up sharply by 157% from Rp 940 in the beginning of the year to Rp 2,425 per share at the end of 2009.
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