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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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Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
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- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Economic Council, Georgia
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- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
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- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
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- Rashtriya Ispat Nigam Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
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- Edison Trading Spa - Italy
- Interocean Group of Companies - India
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- Mjunction Services Limited - India
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- Meenaskhi Energy Private Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
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- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
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- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
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- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
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- Planning Commission, India
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- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
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- Agrawal Coal Company - India
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