ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Sep 08, 2017 12:00 JST
Source:
BlackGold Natural Resources Ltd
BlackGold Signs Addendum to Coal Sales Contract with PLN
- Increased selling price in long-term offtake agreement
- Continued strengthening of cooperation with Indonesia's state-owned electricity company
SINGAPORE, Sep 08, 2017 - (ACN Newswire) - BlackGold Natural Resources Limited (the "Company", and together with its subsidiaries, the "Group" or "BlackGold") is pleased to announce that the Group, through its subsidiary, PT Samantaka Batubara ("PT SB"), has signed an addendum (the "Amendment") to the coal sales and purchase contract (the "Coal Sales Contract") on 6 September 2017 with the Indonesian state-owned electricity company, PT Perusahaan Listrik Negara ("PLN").
This follows an earlier announcement by the Company on 1 December 2016 regarding PT SB's entry into the Coal Sales Contract with PLN in relation to the PT Tenayan project, which is a 2 x 110 MW power plant in Riau Province, Indonesia. The Coal Sales Contract covers a delivery of 500,000 tonnes per annum of coal for an initial term of 5 years with an option to extend for three additional 5-year terms, subject to mutual agreement between both parties.
Under the terms of the Amendment, the selling price of the coal sales has been revised upwards by approximately 10%, and is to be applied retrospectively on coal sales from March 2017 onwards.
"We are very pleased to have signed this addendum," commented Mr Philip Rickard, the Chief Executive Officer of the Group. "The Group looks to strengthen its cooperation with PLN and continue expansion of coal sales from our increased coal reserves."
BlackGold recently announced substantial increases to coal reserves and resources estimates at its PT SB concession, as reported in its latest Independent Qualified Person's Report dated 10 August 2017.
About BlackGold (Bloomberg Ticker: BHR:SP)
The Group is an Indonesia-focused coal mining company targeting Indonesia's rapidly growing power plant industry. Through long term, fixed offtake agreements with its principal customers, the Group has a customer portfolio consisting of state-owned and independent power plants and factories.
The Group, through its local subsidiaries, has the rights to three coal concessions in Riau, Indonesia.
Currently, the Group, through its subsidiary PT Samantaka Batubara, has a coal concession for an area of 15,000 hectares, and has over 500 million tonnes of Coal Resources (Resources and Reserves estimates reported in compliance with 2012 JORC Code). For more information, please visit www.blackgold-group.com.
Contact:
BlackGold Group
+65 6884 4418
investor.relations@blackgold-group.com
This press release has been prepared by BlackGold Natural Resources Limited (the "Company") and its contents have been reviewed by the Company's sponsor, SAC Advisors Private Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this press release.
This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made, or reports contained in this press release.
The contact person for the Sponsor is Mr. Sebastian Jones, Director, at 1 Robinson Road, #21-02 AIA Tower, Singapore 048542, telephone: +65 6532 3829.
SAC Capital Private Limited is the parent Company of SAC Advisors Private Limited.
Source: BlackGold Natural Resources Ltd
Sectors: Metals & Mining, Daily Finance, Energy, Alternatives, Daily News
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST
Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST
Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST
Eisai: Research on Treatments for Alzheimer's Disease Based on Its Pathological Mechanisms Recieves Award for Science and Technology (Research Category)
Apr 18, 2024 10:53 JST
All-New Triton Confirmed as First Double-Cab Pickup Truck to Achieve 2024 Five-Star ANCAP Safety Rating
Apr 18, 2024 09:22 JST
Eisai's Antiepileptic Drug Fycompa Injection Formulation Launched In Japan
Apr 17, 2024 16:17 JST
Honda Unveils Next-generation EV Series for China
Apr 17, 2024 12:15 JST
Lexus presents Time at the 2024 Milan Design Week
Apr 16, 2024 18:49 JST
Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
Apr 16, 2024 14:36 JST
New circuit challenge for TOYOTA GAZOO Racing
Apr 15, 2024 17:21 JST
TOYOTA GAZOO Racing back on asphalt for Croatian challenge
Apr 12, 2024 19:36 JST
Heidelberg Materials North America Announces Latest Milestone in Edmonton CCUS Project
Apr 12, 2024 14:39 JST
MHIAEL Completes Expansion of the its Nagasaki Plant for Manufacture of Aero Engine Combustors
Apr 11, 2024 18:08 JST
Mitsubishi Shipbuilding Acquires Approval in Principle (AiP) from Classification Society ClassNK for Ammonia Fuel Supply System (AFSS)
Apr 11, 2024 17:50 JST
DOCOMO, NTT, NEC and Fujitsu Develop Top-level Sub-terahertz 6G Device Capable of Ultra-high-speed 100 Gbps Transmission
Apr 11, 2024 15:10 JST
Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp
Apr 11, 2024 13:07 JST
Mitsubishi Shipbuilding Receives Order for Ammonia Fuel Supply System for Ammonia-Powered Marine Engine
Apr 10, 2024 16:55 JST
Transgene and NEC Present First Clinical Benefits of Neoantigen Cancer Vaccine, TG4050, in Head & Neck Cancer at AACR 2024
Apr 10, 2024 13:36 JST
More Latest Release >>
Related Release
BlackGold Consortium Awarded Letter of Intent from PLN for PPA on the Riau-1 Project
January 24 2018 10:00 JST
BlackGold Signs Non-Binding MOU with Established Financial Institution in relation to a S$20 Million Convertible Bond Facility
December 01 2017 10:00 JST
BlackGold Celebrates Completion of its New Jetty in Riau Province
November 20 2017 13:00 JST
BlackGold: New Partner Joins Consortium for Development of Riau-1 Project
September 18 2017 11:00 JST
Johanes Kotjo Increases Stakes in BlackGold
August 21 2017 18:30 JST
Threefold Increase Reported in Coal Reserves at BlackGold's PT Samantaka Batubara Concession
August 10 2017 17:00 JST
BlackGold Natural Resources to Raise Further S$8.2 Million through Share Placement
June 23 2017 10:30 JST
BlackGold and China Huadian Take Next Step towards the Joint Development of a 2 X 300 MW Power Plant in Riau
June 12 2017 17:00 JST
BlackGold Natural Resources Ltd Completes Its First Coal Delivery to Cement Padang
March 29 2017 11:30 JST
BlackGold Natural Resources to Raise S$3.56 Million via Share Placement
March 10 2017 14:00 JST
More Press release >>