BlackGold Natural Resources’ subsidiary, PT Samantaka Batubara (SB), has completed its first coal delivery to the Indonesian state-owned electricity company, PT Perusahaan Listrik Negara (PLN Persero). It is the first of many deliveries under a Coal Sales and Purchase Contract signed between BlackGold and PT PLN Persero on December 1, 2016.
The contract provides for annual delivery of 500,000 tonnes of coal to the PT Tenayan project, a new 2 x 110 MW power plant in Riau Province, Indonesia.
The first delivery of 5000 tonnes of coal by barge to Tenayan port was completed on February 10, 2017.
BlackGold’s CEO Philip Rickard said, “This delivery to PT PLN Persero is an exciting milestone and marks the start of a consistent and steady revenue inflow to the group.
“We are positive about the long-term outlook for thermal coal, which is integral to the development of power generation in Indonesia. We will continue our efforts to ramp-up production and look towards strengthening the Group’s position in the market.”
BlackGold Group is an Indonesia-focused coal mining company targeting Indonesia's rapidly growing power plant industry. The group, through its local subsidiaries, has the rights to three coal concessions in Riau.
Currently, the group, through its subsidiary PT SB, has a coal concession for an area of 15,000 hectares, and has over 200 million tonnes of JORC-compliant coal resources.