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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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Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Merrill Lynch Commodities Europe
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- Ministry of Finance - Indonesia
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- The University of Queensland
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- Jaiprakash Power Ventures ltd
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- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
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- Indian Oil Corporation Limited
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- Madhucon Powers Ltd - India
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- Global Coal Blending Company Limited - Australia
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- Meralco Power Generation, Philippines
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- Indian Energy Exchange, India
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- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
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- Carbofer General Trading SA - India
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- Mjunction Services Limited - India
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- Attock Cement Pakistan Limited
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- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
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- Medco Energi Mining Internasional
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- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
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- Energy Link Ltd, New Zealand
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- Maheswari Brothers Coal Limited - India
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- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
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- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
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