Jatenergy seals 11kt coal sales deal
Thursday, April 19 2012 - 02:20 AM WIB
Australia-listed energy firm Jatenergy Ltd said it had signed a contract for an 11,000 tons coal sale due for shipment during the next week, coming after a 4,000 tons sale which was shipped earlier in April from its two Jongkang mines in East Kalimantan.
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 calorific value coal.
?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,? CEO Phil Hodgson said in a statement.
The company?s Indonesian COO, Chris Flanagan, said that productions at both Jongkang I and Jongkang II operations are running according to plan. The firm is also advancing its 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,? said Flanagan.
Editing by Dadan Wijaksana