|- Coal supply to Indonesia's largest cement distributor|
- Purchase order with approximate value of US$12.6 million
SINGAPORE, Feb 27, 2017 - (ACN Newswire) - BlackGold Natural Resources Limited ("BlackGold" or the "Company", and together with its subsidiaries, the "Group") is pleased to announce that, through its subsidiary, PT Samantaka Batubara ("PT SB"), the Group has received a purchase order (the "PO") from an Indonesian state-owned cement company, PT Semen Padang ("Cement Padang").
The PO has an approximate value of US$12.6 million and, barring unforeseen circumstances, the Group expects to complete the PO within the next 11 months.
Founded in 1910, Cement Padang is a state-owned company and a subsidiary of PT Semen Indonesia (Persero) Tbk, a cement manufacturing company listed on the Indonesia Stock Exchange and the largest cement distributor in Indonesia.
Mr Philip Rickard, Chief Executive Officer of the Group, commented: "We are very pleased to receive this purchase order from Cement Padang. This order represents another critical milestone for BlackGold, as the Group adds another esteemed state-owned company to its current portfolio of customers."
About BlackGold (Bloomberg Ticker: BHR:SP)
The Group is an Indonesia-focused coal mining company targeting Indonesia's rapidly-growing power plant industry. Through its local subsidiaries, the Group has the rights to three coal concessions in Riau, Indonesia. Currently, through its subsidiary PT Samantaka Batubara, the Group has total JORC Code compliant coal resources of over 200 million tonnes. For more information, please visit www.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.
Feb 27, 2017 10:50 HKT/SGT
Topic: Press release summary
Sectors: Metals/Mining, Daily Finance
From the Asia Corporate News Network
Copyright © 2017 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.