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Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
 Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a venture with a Fujian state-owned enterprise, Fujian Materials (Group) Co., Ltd (FMGC) for sale and export of coal to China.
FMGC intends to import 2 million tonnes of coal annually from Australia, steadily increasing this to 10 million tonnes per annum.
FMGC has agreed to purchase coal exclusively from ASF Group sourced from the Australian energy and resources sectors.
The coal will be sourced from coal fines deposits at coalfields on the south coast of New South Wales.
ASF Energy is also seeking other supply sources of Australian east coast coal which could either be contracted for supply or acquired to assist ASF to expand its coal supply and export business.
FMGC has already raised a Letter of Credit in ASF Energy’s favour in respect of the first shipment, comprising approximately 45,000 tonnes of coal which is expected to depart Port Kembla by February, 2010.
Subject to the successful completion and delivery of this shipment, ASF Energy intends to make regular monthly 45,000-tonne coal export shipments to FMGC, thereby creating a significant source of recurring cash flow for ASF.
ASF Group chairman, Min Yang said the company is encouraged by the exclusive working relationship with Fujian Materials. The first transaction represents a qantifiable first step in the relationship with a key Chinese state owned enterprise.
ASF is looking to develop a profitable business in the export of coal from Australia to China. The company's key relationships in China had been instrumental in the procurement of the agreement.
Source: Proactive Investors
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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- European Bulk Services B.V. - Netherlands
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- Eastern Coal Council - USA
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- Petron Corporation, Philippines
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- Australian Commodity Traders Exchange
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- Ceylon Electricity Board - Sri Lanka
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- White Energy Company Limited
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- Thai Mozambique Logistica
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
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- Anglo American - United Kingdom
- CNBM International Corporation - China
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- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
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- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
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- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
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- Trasteel International SA, Italy
- Central Electricity Authority - India
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- Metalloyd Limited - United Kingdom
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- Thiess Contractors Indonesia
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- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
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