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Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipment during the next week, coming after a 4000 tonne sale which was shipped earlier in April. Production is continuing according to plan from the company’s two Jongkang mines in East Kalimantan, Indonesia.
Jatenergy’s Chief Executive Officer Phil Hodgson said: “These continued sales underscore buyer confidence in our ability to reliably deliver good quality thermal coal from our operations. We have banked over US$230,000 in revenues from our sales in March. We are now a fully-fledged coal operator in Indonesia – something very few other Australian coal companies operating there can claim.”
The company’s Indonesian Chief Operating Officer, Chris Flanagan, said ”Production from both our Jongkang I and Jongkang II operations are running according to plan.
We have also advanced our mine development plan for the Atan Bara project, with drilling and topographical surveys nearly completed for an initial mine plan. We remain on track to start mining coal during the third quarter of this year from that project.”
The latest Jongkang sales contract is to be delivered in two barge loads, and involves a market-based FOB price for 6,500 kcal/kg specification coal.
Jatenergy’s Chairman Alan Broome said: “The experience that we have assembled on the ground in Indonesia is paying off, even though we only sold our first coal shipments in March.
Kalimantan is an area with huge growth potential for our company. As previously stated, 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,” according to the statment posted on company's website.
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Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
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- Planning Commission, India
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- Wilmar Investment Holdings
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- Malabar Cements Ltd - India
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- Anglo American - United Kingdom
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