BlackGold set to start coal shipment from own jetty
Saturday, November 11 2017 - 02:51 AM WIB
SGX-listed coal firm BlackGold Natural Resources Limited said on Friday it expects to commence delivery of coal from its own jetty in Indonesia?s Riau Province by the fourth quarter of this year (4Q2017), which is anticipated to increase the group?s barge loading capacity and contribute to a reduction in costs.
As has been previously reported, BlackGold has obtained a number of coal supply contracts. An annual delivery of 360,000 tons of coal each to PT Santosa Makmur Sejahtera Energy and PT Soma Daya Utama (both independent power producers) are expected to commence in the second-half of this year and first-half of next year respectively.
Further, on 7 September 2017, the company announced that, through its subsidiary, PT Samantaka Batubara, had signed an addendum to the coal sales and purchase contract with Indonesia?s state-owned electricity firm PT PLN in relation the annual delivery of 500,000 tons of coal to PLN?s Tenayan power plant. The coal sale price had been revised upwards by approximately 10 percent.
BlackGold through its subsidiaries operates three coal concessions in Riau Province. PT Samantaka Batubara 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