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Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongkang I and Jongkang II mines
Energy company Jatenergy Ltd (ASX code JAT) announced today that it had secured its first coal sales contract from its two Jongkang mines in East Kalimantan, Indonesia.
Jatenergy’s Chief Executive Officer Phil Hodgson said: “Securing this first coal sale underscores buyer confidence in our ability to deliver reliable, good quality thermal coal from our operations,” CEO Phil Hodgson said on a press statement posted on company's web site.
The company’s Indonesian Chief Operating Officer Chris Flanagan further said that production was progressing well at both mines. “We are currently producing from both our Jongkang I and Jongkang II operations. Our on-site stockpile and readily accessible capped coal now totals about 15,000 tonnes.’The sales contract, for an 8000-tonne barge, had been reached with a Singaporean buyer. The key terms are a 50% total purchase price down-payment due in five working days, a market-based FOB price (based upon 6500 kCal/kg specification), 40% payment on barge loading in March and a 10% adjustment subject to cargo survey.
Jongkang I and Jongkang II have been developed in a JV arrangement with a local Indonesian partner. Jatenergy contributed the majority of the working capital costs of both projects (around US$1m) in return for 30% of the mining margin and the marketing rights to 100% of the production. The project is sited 5km from a stockpile, crushing and conveyor loading facility on the Mahakam River, about 25km from the coal shipping hub of Samarinda.
Jatenergy’s new Chairman Alan Broome said: “We have now proved that we can operate in Indonesia – an area with huge growth potential for our company. The revenue will be applied to our significant Katingan project in Central Kalimantan, as well as to secure and develop larger short-to-production projects now under review in Indonesia.”
About Jatenergy:
Jatenergy is a diversified energy company operating in Australia and Asia. It owns the rights to four coal projects in Indonesia’s Kalimantan coal region, as well as eight coal exploration permits and permit applications in Queensland’s Bowen and Galilee basins.
It also produces high quality crude jatropha oil from plantation operations in Central Java, Indonesia, for power production and the airline industry.
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Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- Mercator Lines Limited - India
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- Economic Council, Georgia
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- Commonwealth Bank - Australia
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- Karaikal Port Pvt Ltd - India
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- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
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- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
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- New Zealand Coal & Carbon
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- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
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- The University of Queensland
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- Australian Commodity Traders Exchange
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- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
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- Eastern Energy - Thailand
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- Energy Link Ltd, New Zealand
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- The Treasury - Australian Government
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- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- VISA Power Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Standard Chartered Bank - UAE
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- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
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- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
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- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
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- Global Business Power Corporation, Philippines
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- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
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- Larsen & Toubro Limited - India
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- IHS Mccloskey Coal Group - USA
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- Romanian Commodities Exchange
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
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- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
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- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
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