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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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Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
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- Ministry of Mines - Canada
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- Eastern Energy - Thailand
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- The State Trading Corporation of India Ltd
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- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
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- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
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- Meenaskhi Energy Private Limited - India
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- Wilmar Investment Holdings
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- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
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- Energy Development Corp, Philippines
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- Price Waterhouse Coopers - Russia
- Australian Coal Association
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- Romanian Commodities Exchange
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- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
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- IEA Clean Coal Centre - UK
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- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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- The University of Queensland
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- Petron Corporation, Philippines
- Thai Mozambique Logistica
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- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
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- Edison Trading Spa - Italy
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- Eastern Coal Council - USA
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- Orica Australia Pty. Ltd.
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- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
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- Intertek Mineral Services - Indonesia
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