Waratah dispatches first coal cargo from S. Kalimantan

By Romel S. Gurky

ASX-listed Waratah Resources Limited announced Wednesday that, in conjunction with its now established Indonesian partners, it has completed loading and dispatch of the first 50,000 ton export cargo of thermal coal from South Kalimantan.

The company?s role has been to assist in the facilitation of this transaction. The first cargo is bound for Shanghai, China, Waratah said in a statement.

It added that the shipment represents first confirmation of the company?s strengthening commercial relationships with Indonesian partners, Indonesian coal producers and end users throughout Asia. Potential further customer relationships are also being developed in Taiwan, India and South Korea, the firm said.

Waratah Resources Executive Chairman Ben Kirkpatrick commented, ?This shipment is a pivotal milestone for the company in the ongoing development of its commodities trading division?.

"We anticipate executing more commodities transactions throughout 2014 and are targeting the establishment of a steady revenuestream from commodities trading and related activities? he added.

Editing by Reiner Simanjuntak