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JATCORP LIMITED — Capital/Financing Update 2015
Mar 16, 2015
65154_rns_2015-03-16_21b2a72a-e2af-4db8-8c8a-b5c1c503140f.pdf
Capital/Financing Update
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JATENERGY LIMITED ABN 31 122 826 242
ASX CODE: JAT
AUSTRALIAN REGISTERED OFFICE
Floor 6, Suite 8 55 Miller Street PYRMONT NSW 2009 AUSTRALIA
CONTACT DETAILS
Telephone +61 2 9571 8300 Facsimile +61 2 9571 8200 Email [email protected] Web www.jatenergy.com
ASX ANNOUNCEMENT
17 March 2015
INDONESIAN COAL UPDATE
HIGHLIGHTS
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Thermal Coal Production Indonesia.
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Management Appointment.
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Thermal Coal Production Indonesia
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At the end of last year Indonesia mined over 435 million tonnes of Thermal Coal higher than the expected 420 million tonnes. This increase was due to coal operators trying to generate cash flow to pay back debts. In turn this has led to continuing lower price for thermal coal. It is expected that this will change if there is a demand from China. In March 2015 the government of Indonesia plans to raise coal royalties to supplement revenue from the natural resources sector. On a positive side this may be delayed until the price of coal improves.
Management Appointment
We are also pleased to announce the appointment of a local Indonesian, Eva Armila Djauhari, to manage our Indonesian businesses. The focus is on the upgrade of our asset Coal Soil Brik as a supply for power stations or complete sale. There is an urgency in Indonesia to develop power stations to supply the widening supply vs demand gap for electricity. Indonesia hopes by 2019 to reduce coal production to 400 million tonnes a year and increase domestic consumption to around 190 million tonnes from around 90 million tonnes this year.
Jatenergy was issued a statement of claim by Chapmans Limited which will be defended.
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About Jatenergy
Jatenergy (ASX: JAT) is an ASX listed energy investment company, focused on conventional, second generation and energy conversion technologies. Jatenergy also acquires projects and technologies, and creates value through its extensive marketing and promotion activities.
Media and Management Contact
Tony Crimmins +61 2 9571 8300 [email protected]
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About Jatenergy
Jatenergy Limited is a Sydney-based diversified energy company operating in both Australia and Asia. Jatenergy’s strategic focus is on producing cash returns from its coal and Jatropha assets as well as implementing the proprietary Coal Plus technology for upgrading low grade coal into high value energy products.
Directors
Tony Crimmins Executive Chairman
Mr Xipeng Li
Non-Executive Director
Mr Wilton Yao Non-Executive Director
Jatenergy Limited ABN 31 122 826 242
ASX code JAT
Ordinary fully paid shares 130,345,729