Key corporate events, production progress and operating highlights, in reverse chronological order.
Covering 70,000 metric tonnes of Indonesian thermal coal, with an estimated transaction value of no more than RMB 47 million at prevailing prices. The agreement replaced a previously planned 20-year long-term coal supply agreement.
Designed annual capacity of 10 Mtpa, located in Kotabaru Regency, South Kalimantan, Indonesia.
The SDE-1 pithead power plant was successfully connected to the grid. The SDE-2 pithead power plant and coal washing plant are under construction.
The average selling price was RMB 424 per tonne and gross profit per tonne was RMB 109 per tonne.
PT Sumber Daya Energi participated as an exhibitor.
A China Qinfa subsidiary planned to sell a 40% stake in Liyuan Development, which holds 75% of SDE, to Zhejiang Energy International. Upon completion, Zhejiang Energy International would indirectly hold 30% of SDE.
By 31 May 2024, approximately 0.88 Mt of raw coal had been produced since trial production commenced.
The renewed licence is valid through 14 May 2034. By end-2023, China Qinfa Group's interest in SDE had risen to 75%.
China Qinfa Group completed the acquisition of a 70% equity interest in PT Sumber Daya Energi (SDE).
