Earnings Release • Jun 16, 2011
Earnings Release
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Corporate | 16 June 2011 07:31
HMS Bergbau AG concludes two long-term marketing agreements
HMS Bergbau AG / Key word(s): Miscellaneous
16.06.2011 / 07:31
– Presence in Asian markets is being increased
– Exclusive marketing opportunities for large amounts of coal have been secured
– Additional purchasing option for 3,000,000 tonnes of coal
Berlin, 16 June 2011: HMS Bergbau AG, an international coal supplier with operating know-how of coal mining, transport and trade, has signed two long-term cooperation agreements with local coal producers in Indonesia. With these exclusive marketing agreements, the company has secured its access to high-quality coal.
In the first cooperation agreement, which was concluded with Bencoolen Coal Pte LTD., Singapore, represented by Patrick Alexander, the company agreed to purchase 1,000,000 tonnes. The first 50,000 tonnes are scheduled for delivery in August 2011. HMS Bergbau plans to market the high calorific value coal in the Asian region. In addition to the agreed delivery of 1,000,000 tonnes, HMS Bergbau AG secured exclusive access to further 3,000,000 tonnes of coal, the entire output of the coal mine currently being developed in Sumatra/Indonesia, by means of a first right of refusal purchase option.
HMS Bergbau AG also entered into a marketing agreement with an Indonesian coal mine operator in East Kalimantan. Plans are to sell the agreed quantity on the Asian market as from August 2011. Further details are subject to a non-disclosure agreement.
'We have secured access to far more than 1 million tonnes of coal in Indonesia with these two marketing agreements. In the medium term, this will increase to a figure in excess of 4 million tonnes. This reconfirms the sustainability of our implemented strategy regarding the increase of our activities in the coal core market Asia. At the same time, we not only hope to expand our existing business relationships with these agreements but also generate positive impulses into entering marketing agreements with new coal producers. Our medium-term goal is to continuously expand the activities of our subsidiaries and representative offices in Singapore, Indonesia, Pakistan and India,' commented Heinz Schernikau, CEO of HMS Bergbau AG.
'With HMS, we have found an extremely active coal distributor with long-standing experience. This enables us to increase our focus on raising the output of existing mines as well as developing new projects. We are pleased to have found a partner in HMS which also supports our other development projects,' said Patrick Alexander, shareholder and representative of Bencoolen Coal Pte Ltd.
About HMS Bergbau AG:
Berlin-based HMS Bergbau AG is an independent coal trading house specializing in just-in-time deliveries of thermal coal to power plants and other industrial consumers. The company is one of the leading coal trading companies in Germany and markets its products to renowned consumers worldwide. HMS is actively expanding its activities to span coal production and
logistics solutions primarily in Asia. In addition, the company is developing environmental technologies, in particular concerning underground CO2 capture and storage (CCS technology). HMS has been
listed at Germany's Frankfurt Stock Exchange since December 2008.
Contact:
Company contact:
HMS Bergbau AG
An der Wuhlheide 232
12459 Berlin
T.: +49 (30) 65 66 81-0
F: +49 (30) 65 66 81-15
Email: [email protected]
URL: www.hms-ag.com
HMS Investor Relations contact:
GFEI Aktiengesellschaft
Am Hauptbahnhof 6
60329 Frankfurt
T.: +49 (69) 74 30 37-00
F.: +49 (69) 74 30 37-22
Email: [email protected]
End of Corporate News
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128719 16.06.2011
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