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Monday, 8 November 2010

Noble appointed exclusive agent for PT Beraua Coal

By ANGELA TAN


Noble Group Limited said on Monday that it has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to international destinations excluding Japan and Malaysia.

PT. Berau Coal mines coal in East Kalimantan, and is Indonesia's fifth largest producer with targeted total production in 2014 of 30 million metric tonnes.

The Noble marketing agreement extends for the life of the PT. Berau Coal assets, with Indonesian domestic sales by PT. Berau Coal (accounting for about 30% of total production) continuing to be marketed by PT. Berau Coal directly, and with export sales to Japan continuing to be handled by Sojitz Corporation (a 10% shareholder in PT. Berau Coal).

Noble will co-ordinate the marketing of PT. Berau Coal product from its Singapore office and will immediately utilise its extensive global network of offices to market PT. Berau Coal production directly to the end consumer.

DBS Vickers said on Monday that 'this announcement is significant, as it could potentially almost double (Noble's) coal trading volume from Indonesia', currently expects Noble to procure around 15 million tons of coal from Indonesia, excluding Berau.
Posted by Createwealth8888 at 19:47
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