Bukit Asam this year is setting aside 47% of its targeted 30 million tonnes sales for exports, Bukit Asam chief executive Suryo Eko Hadianto said in a virtual briefing. Company data showed that exports made up 46% of the 26.1 million tonnes sold last year.

"Bukit Asam is targeting an increase in the coal export portion to take advantage of the rising international price of coal," Suryo said.

Bukit Asam's January-September net income leapt to 4.8 trillion rupiah ($339.94 million) from 1.7 trillion rupiah in the same period last year, reflecting a sharp rise in coal prices due to demand surging as economies began emerging from the effects of the pandemic.

The company's main export markets include China, India, Philippines and Vietnam, and it has also recently added a new destination, Bangladesh, director Fuad Fachroeddin said.

Meanwhile, Suryo added that he believed coal prices would stay high until next year supported by continued strong demand, including buying from countries that switched to coal as a fuel for their power plants as gas prices had soared even faster.

"The golden era of coal will continue until next year, that's our belief," he said, without giving out specific price outlook.

($1 = 14,120 rupiah)

(Reporting by Fransiska Nangoy; Editing by Simon Cameron-Moore)