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BLACKGOLD NATURAL RESOURCES LIMITED COMPLETES ITS FIRST COAL DELIVERY TO CEMENT PADANG

  • First fleet of trucks completed delivery of coal on 24 March 2017
  • Second fleet of trucks to commence delivery by April 2017

 

Singapore, 27 March 2017 – BlackGold Natural Resources Limited (“BlackGold” or the “Company”, and together with its subsidiaries, the “Group”) refers to the Company’s announcement on 24 February 2017 in relation to the receipt of the purchase order (the “Purchase Order”) for the supply of coal to an Indonesian state-owned company, PT Semen Padang (“Cement Padang”). The Group is pleased to announce that its subsidiary, PT Samantaka Batubara (“PT SB”), has successfully completed its first coal delivery to Cement Padang in relation to the Purchase Order.

The Purchase Order from Cement Padang has an approximate value of US$12.6 million and, barring unforeseen circumstances, the Group expects to complete the Purchase Order periodically within the next 10 months. The first delivery of coal to Cement Padang was completed on 24 March 2017 and delivery by a second fleet of trucks is expected to commence by April 2017.

“We are very pleased with the successful completion of this delivery to our valued customer.” said Mr Philip Rickard, Chief Executive Officer of the Group. “This accelerates the Group’s strategy of becoming a leading Indonesian coal producer, and we look forward to strengthening our cooperation with Cement Padang”.