Cokal (ASX:CKA) fire up sales at Bumi Barito

Cokal (ASX:CKA) fire up sales at Bumi Barito

January 22, 2024 Off By Rueben Hale

Cokal Limited has announced that its metallurgical coal mine, Bumi Barito Mineral, will achieve one monthly sales contract starting February 2024.

The renewable energy sector is predicted to undergo modest growth as the world moves towards sustainable energy.

Industry analysts believe that the global economic growth rate and the speed of transitioning to environmentally friendly steel production technologies will play a significant role in shaping the industry’s future. During January, coal futures remained steady at approximately $130 per tonne as investors evaluated demand and supply factors.

Bumi Barito’s ramp-up of saleable production includes forecasted domestic and export sales products, depending on the best price realization for Cokal.

The company’s various offtake and marketing arrangements will continue to govern payment terms for sales.

The company stated that it has not received any sales yet from SGE, despite the fact that SGE remains contracted to purchase the product for the domestic market. However, the demand for BBM products from many domestic and international parties has not affected Cokal’s sales opportunities.

“The ongoing coal production at BBM Pit 3 continues, and the Batu Tuhup Permanent Jetty Construction project is progressing as scheduled, with 70% progress achieved in weighbridge works,” the company said.

“The site has dispatched load cells and other materials, and the installation is expected to be completed by the end of January.

“Structural works involving 75t of steel have already been completed, and an additional 25t of fabrication is in progress.”

up arrow$0.098

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified. 

MO and CI logo redraw Socials Profile reversed

MarketOpen is an online media business connecting companies and investors. Through its flagship media channel the Australian publisher’s experienced journalists cover breaking news and analysis on mining, oil and gas, technology and biotechnology companies listed on the Australian Securities Exchange and other markets. MarketOpen’s video and podcasting channels feature original interviews with Australia’s small-cap corporate leaders, while its Stock Soirée networking events, Watchlist webinars, and online events connect investors and brokers with CEOs and board members. The publisher also offers a suite of agency services to its corporate members, including media, video, podcasting and social media services, along with writing, editing, reviewing and content creation services.

Contact info

Suite 3, 47 Havelock Street
West Perth WA 6005

Stewart Walters
Managing Director
+61 414 644 166

Amanda Ellis
+61 438 003 868

Important links

Follow us