Highlights:
First shipment of 41,000 tonnes of Australian coal was completed successfully to China Huaneng Group Ltd.
In negotiations with major Chinese strategic partners for further development of long term supply arrangements
Further to our release of 22 June 2010, ASF Group Limited is pleased to announce that its wholly owned entity ASF Energy has successfully completed its first trial coal shipment to China. The journey from Port Kembla to Shanghai went smoothly and the coal has been off loaded and delivered to our strategic partner, China Huaneng Group Ltd.
With the completion of this first trial shipment of coal, ASF Energy is now in negotiations with China Huaneng Group Ltd regarding the long term supply agreement between the two parties.
China Huaneng Group is one of the largest suppliers of power in the Chinese energy market and its Shanghai operation is one of the major local suppliers in power consumption.
ASF Energy is currently in discussions with a number of coal suppliers to secure additional supply arrangements and is seeking to enhance its supply chain capacity so that it can facilitate a much larger supply of coal per annum.
Further, we are still in discussions with Fujian Materials (Group) Co., Ltd for the supply of coal over the longer term.
The Development and Operations Director of ASF Corporate, Justin Clarke said:
"The completion of the first trial shipment of coal to China Huaneng Group provides us with increased confidence that ASF Energy can provide long-term positive contributions towards the Group’s results. Our goal now is to work closely with ourstrategic partners in both China and Australia so that we can position ourselves to become one of the major suppliers into the high growth Chinese energy market”.
For further information please contact Justin Clarke, Development and Operations Director (Ph: 612 9251 9088).
