Geo Energy reports coal shipment from newly producing mine

By Alexander Ginting

SGX-listed coal mining firm Geo Energy Group reported on Wednesday that it has shipped 390,000 tonnes of coal from its PT Sungai Danau Jaya (SDJ) subsidiary since January this year.

Ever since SDJ coal mine has begun production in December 2015, its coal output was immediately taken up by customers in China and within the region. "Our Group shipped the first shipment of 55,000 tonnes of coal in January 2016 and has since loaded seven shipments of approximately 52,500 tonnes each and a total of 390,000 tonnes to customers in the region to-date," the company said in an Annual Report filed with the SGX on Wednesday.

"Our Group still receives healthy order flows from customers in China. In addition, our Group also received various enquiries from India," it said.

The SDJ mining concession area is 235 hectares located in Tanah Bumbu, South Kalimantan, with coal reserves of 42.4 million tonnes of thermal coal with calorific value ranging from 4,000 to 4,200 GAR.

Geo Energy owns another mine PT Bumi Enggang Khatulistiwa in Kutai Barat, East Kalimantan.

Presently, Geo Energy primarily focused on coal production in SDJ.