CONNECT WITH US:
Nov, 20 2017 14:00 JST
BlackGold Natural Resources Ltd
BlackGold Celebrates Completion of its New Jetty in Riau Province
- Strategic proximity of BlackGold's jetty to the PT SB concession translates into cost savings
- Key infrastructural facility ready for impending ramp-up of production
- Improved coal loading capabilities to boost operational efficiency
SINGAPORE, Nov, 20 2017 - (ACN Newswire) - BlackGold Natural Resources Limited (the "Company", and together with its subsidiaries, the "Group" or "BlackGold") is pleased to announce the completion of its jetty at Kuala Cenaku, in Riau province, Indonesia.
The jetty will serve the delivery of coal produced from the Group's mining concessions. Equipped with a conveyor belt and stockpiling facilities, the jetty has a loading capacity of 3.6 million tonnes of coal per annum and a stockpiling capacity of approximately 45,000 - 55,000 tonnes of coal.
Strategically located near the Group's mining concessions and situated at the Indragiri Hulu River, the jetty shall significantly improve output capacity and reduce transportation costs whilst providing better control and certainty over BlackGold's coal distribution networks.
Following the completion of the jetty, coal is transported from the Group's mining concessions to the jetty by truck, where it is loaded directly onto barges via the jetty's conveyor system for onward delivery to its customers' ports.
"We are delighted to have completed the construction of our jetty and to have commenced delivery of coal from it. It marks the completion of yet another key infrastructural asset in the Group's supply chain and signifies BlackGold's commitment to consistent and timely deliveries for our customers," said Mr Philip Cecil Rickard, CEO of the Group. "Through reduced waiting times and increased loading capacities, the jetty will enable the Group to lower operating costs and deliver coal in as seamless a manner as possible. Endowed with this enhancement to our coal distribution capabilities, we shall continue to work towards increasing our coal supply to PLN's PT Tenayan Project".
Information on the PT Tenayan Project
The PT Tenayan Project is a 2 x 110 megawatt power plant in Riau Province by PT Perusahaan Listrik Negara ("PLN"), Indonesia's state-owned electricity company.
Currently already delivering to the PT Tenayan Project, the Group had on 1 December 2016 signed a coal sales and purchase contract (the "Coal Sales Contract") with PLN for the annual delivery of 500,000 tonnes of coal to the PT Tenayan Project. The Coal Sales Contract shall be for an initial term of 5 years with an option to extend the contract for three additional 5-year terms, subject to mutual agreement between the parties.
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 (JORC Code compliant). For more information, please visit www.blackgold-group.com.
T: +65 6884 4418
This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, SAC Capital 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 announcement.
This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Mr. Sebastian Jones (Telephone number: +65 6532 3829), at 1 Robinson Road, #21-02 AIA Tower, Singapore 048542.
Source: BlackGold Natural Resources Ltd
Sectors: Metals/Mining, Daily Finance, Energy, Daily News
Copyright ©2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
NEC to Supply 20 MW Energy Storage System to OErsted UK
Jun 19, 2018 17:05 JST
DOCOMO Develops Population Flow Statistics as Transportation Big Data
Jun 18, 2018 16:59 JST
TOYOTA GAZOO Racing Wins Le Mans
Jun 18, 2018 09:00 JST
Mitsubishi Corporation to Acquire Additional 21.9% Stake in Quellaveco Copper Mine Project
Jun 15, 2018 16:04 JST
Toyota: Advanced Automatic Collision Notification Service "D-Call Net" Expanded Nationwide
Jun 15, 2018 13:50 JST
Mobile Industry Works Together to Deliver Complete 5G System Standard on Time
Jun 14, 2018 17:42 JST
Eisai: Industry-Academia-Government Joint Development Agreement Concerning Nucleic Acid Drug Discovery Research
Jun 14, 2018 10:11 JST
Renault - Nissan - Mitsubishi Increase Annual Synergies to Euro 5.7 Billion
Jun 14, 2018 08:55 JST
NEC expanding delivery of Intelligent Transportation Systems in India
Jun 13, 2018 14:20 JST
NEC's Facial Recognition Software Featured in Smartphones
Jun 13, 2018 14:00 JST
NEC and Macromill Jointly Develop Advanced Marketing Solutions Using AI
Jun 13, 2018 13:38 JST
Eisai to Establish New Research Facility "Eisai Center for Genetics Guided Dementia Discovery" in Cambridge, Massachusetts, USA
Jun 13, 2018 12:53 JST
University of Tokyo's RCAST, Fujitsu, and Kowa Successfully Create Promising New Compounds to Fight Drug-Resistant Cancer
Jun 13, 2018 11:20 JST
Hitachi Awarded Authorised Engineering Organisation Status by Transport for NSW, in Sydney Australia
Jun 12, 2018 19:21 JST
MHPS Completes Upgrade Work on Natural-Gas-Fired GTCC Power Plant Operated by Daigas Group
Jun 12, 2018 12:10 JST
MHPS Completes Unit 1 construction of "Jawa-2 Project" Ahead of Schedule
Jun 12, 2018 12:02 JST
Fujitsu Sports-Analytics Specialist RUN.EDGE Commences Operations
Jun 12, 2018 11:08 JST
MHPS: Combustion Tuning System Using AI Technology Shown to Provide Cost Reduction Effect of Around $1M Annually
Jun 11, 2018 15:11 JST
Showa Aluminum Can completes Second Production Base in Vietnam
Jun 11, 2018 14:00 JST
AbbVie and Eisai Announce the Launch of HUMIRA Pen, an Auto-Injector Formulation for Fully Human Anti-TNF-alpha Monoclonal Antibody HUMIRA
Jun 11, 2018 12:44 JST
More Latest 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: New Partner Joins Consortium for Development of Riau-1 Project
September 18 2017 11:00 JST
BlackGold Signs Addendum to Coal Sales Contract with PLN
September 08 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 >>