ICHOR Coal N.V.: IchorCoal delivers Coal to Asia
Dienstag, 10.12.2013 09:10 von DGAP
DGAP-News: ICHOR Coal N.V. / Key word(s): Development of
Sales/Agreement
ICHOR Coal N.V.: IchorCoal delivers Coal to Asia
10.12.2013 / 09:05
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IchorCoal delivers Coal to Asia
- First seagoing vessel will be shipped to Asia
- IchorCoal's Vunene Mining now one of the few South African junior
miners to deliver overseas
- 'Similar deals will follow'
Berlin, 10 December 2013: IchorCoal N.V., an internationally operating
mineral resource company, has sold via Vunene Mining (Pty) Ltd, its main
participation in South Africa, its first cargo of coal, produced out of its
Mpumalanga coal mine, directly to an Asian customer. Vunene was assisted by
HMS Bergbau Africa, a subsidiary under the IchorCoal group.
The contract covers initially one vessel of steam coal which will be
delivered in December from the Richards Bay Coal Terminal (RBCT), the
single largest export coal terminal in the world. The cargo will be shipped
to an Asian customer and will be used for power generation there.
With this sale, Vunene Mining is one of the few junior miners in South
Africa selling its coal on the international coal market via its Quattro
allocation at RBCT, controlling the entire supply chain from pit to port.
The Quattro scheme was designed by the South African government to enable
post-Apartheid black economic empowerment companies to access the
international coal market. Very few junior miners to date have actually
delivered their own coal to end users overseas and most of the South
African export coal changes hands in Europe and Singapore.
Vunene Mining produces coal at its Mpumalanga coal mine in the Ermelo
region. IchorCoal transformed the company successfully from a small coal
pit to a fully functional mining company. With the opening of new opencast
sections, production increased significantly from 90,000 tons per month in
2012 to 180,000 tons in September 2013. Following the start of underground
mining in 2014, underground production is slated to reach up to 350,000
tons per month within the following years.
'This success shows that IchorCoal is able to handle even large
international deals and that it can take over every single step along the
value chain of coal trade', says Heinz Schernikau, the CEO of IchorCoal.
'Similar deals will follow. IchorCoal's trading arm HMS Bergbau was
initiating this transaction and will secure the trading operations.'
The Management Board
About IchorCoal N.V.
IchorCoal N.V. is an internationally operating mineral-resource-company
specializing in investments in coal resources as well as in other projects
in the field of coal logistics and coal handling along with coal trading
via its marketing arm HMS Bergbau AG. The company is aiming to secure its
own coal resources, to gain control along the value chain and to sell the
produced coal on the international markets. Considering the global rise in
demand for coal, market opportunities are vast and entrepreneurial action
is essential and offers excellent prospects. The company is led by its CEO
Heinz Schernikau and its CFO Sebastian Giese. Both contribute their long
standing experience in the commodity sector.
Forward-looking statements
This news release includes forward-looking statements. Forward-looking
statements include, but are not limited to, statements concerning estimates
of expected mining and associated costs, statements relating to estimates
of, and increases in, production, cash flows and values and other
statements which are not historical facts. When used in this document, the
words such as 'could,' 'plan,' 'estimate', 'expect', 'intend', 'may',
'potential', 'should' and similar expressions are forward-looking
statements. Although IchorCoal believes that its expectations reflected in
these forward-looking statements are reasonable, such statements involve
risks and uncertainties and no assurance can be given that actual results
will be consistent with these forward-looking statements. Important factors
that could cause actual results to differ from these forward-looking
statements include the potential that the Company's projects will
experience technological and mechanical problems, that geological
conditions in the reservoir may not result in commercial levels of oil and
gas production, that changes in product prices can have a material impact
and that IchorCoal fails to raise sufficient capital to adequately fund its
activities.
Contact:
IchorCoal N.V.
An der Wuhlheide 232, 12459 Berlin
Phon: +49 30 65 66 81 60
FAX: +49 30 65 66 81 15
info@ichorcoal.com
www.ichorcoal.com
Thomas Luber
NewMark Finanzkommunikation
Zum Laurenburger Hof 76, 60594 Frankfurt
Phon: +49 69 94418069
mobil: +49 171 8311216
Thomas.luber@newmark.de
End of Corporate News
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10.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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