Posted on 10 Apr 2024
Australian coal miner Cokal has inked additional contracted coal sales for the Bumi Barito Mineral (BBM) mine in Indonesia with PT Risun Wei San Indonesia (Risun), Kallanish notes.
Cokal updates in a statement that that it has entered into a contract for the sale of 7,500 tonnes of metallurgical coal to Risun.
Risun is anticipated to be a long-term domestic customer for BBM’s coking coal, and therefore the contract represents an important milestone for Cokal.
It notes that Risun is one of the largest suppliers of coke in the world and owns and operates one of largest coke plants in Morowali, Indonesia, which consumes around 3 million tonnes/year of metallurgical coal.
The sale of BBM coking coal, is sold at a price referenced to the CIF Taboneo Anchorage index price, adjusted for coal quality and product specifications.
The coal will be shipped via FOB Mother Vessel (MV) at Taboneo Anchorage, South Kalimantan.
The payment will be made to Cokal via telegraphic transfer, within seven days post-loading.
Source:Kallanish
