BlackGold delivers fourth shipment of coal to PLN
Thursday, April 20 2017 - 01:24 AM WIB
Petromindo|Lucky
SGX-listed coal firm BlackGold Natural Resources Limited announced Wednesday that its Indonesian coal subsidiary PT Samantaka Batubara had on April 19 delivered its fourth shipment of coal by barge to the 2x110 MW Tenayan coal-fired power plant in Riau Province owned by the Indonesian state-owned electricity firm PT PLN.
?Since its first delivery on February 10, 2017, the total tonnage of coal delivered to PT PLN Persero is approximately 22,000 tons,? the company said in a statement.
Philip Rickard, the Chief Executive Officer of the Group, commented: ?This latest delivery is a testament of BlackGold?s commitment to PT PLN. The group remains focused on further expanding its production capabilities as we look forward to increasing deliveries to our valued customers and the generation of continued positive cash flows for the group.
Samantaka signed in December of last year a five-year coal sales and purchase contract with PLN for the annual delivery of 500,000 tons of coal to the new Tenayan power plant.
BlackGold through its subsidiaries operates three coal concessions in Riau Province. Samantaka has coal concession for an area of 15,000 hectares in Riau province, and has over 200 million tons of coal resources (JORC code).
Editing by Reiner Simanjuntak