Sultan Mining & Energy Development Corp., a Filipino-owned company, yesterday reported a 120 percent increase in coal production volume of its Surigao mine to 22,000 metric tons in April.

“For April alone, the production volume of 22,000 MT was a 120 percent increase from the previous month. It was also greater than the first quarter’s production for 2008,” said Sultan chief finance officer Anthony Buyawe in a statement.

He said April output also exceeded the target of 20,000 MT for the month despite heavy rains and rough seas.

Production and sales in the first quarter amounting to P43 million or 18,000 MT exceeded the incidental or pre-commercial operations of 16,000 MT worth P38 million for the entire 2007.

Buyawe attributed the higher sales in the first quarter figure to the ramping up of production and the healthy growth in coal prices. The higher selling price recorded by the company is mainly due to the increasing price of coal in the local and international markets as a result of rising demand.

“Sultan Mining’s management believes that the company is in a position to increase and sustain profitability for the remaining eight months of 2008 as it continues to increase monthly coal production and convert these into sales,” Buyawe said.