The PG Silesia mine, owned by Bumech, signed two coal sales contracts this week. This is stated in the current reports.
The First Decade Report was released on Tuesday, October 12th. It was concluded – as stated – with a local capital firm, and is part of an international concern.
“The subject of the contract is the sale of power coal in type Miał II A, for resale. Coal shipments will be delivered from 01/04/2022 to 31/12/2023 on the basis of monthly schedules by rail transport in accordance with the terms of the FCA, Silesian Mine in Cekovice-Dzidzis. The estimated value of the agreement over its term is about PLN 145 million net and is caused by the coal standards specified in the agreement. The parties to the agreement have agreed that the contracted amount of coal can be reduced or increased by 10%. – We read the report.
The report on the second agreement was released on Wednesday 13 October.
“The subject of the contract is the sale of steam coal in Miał II A class 25, for resale. Coal will be delivered in the period 10.2021 – 01.2022, by rail transport for loading at the port of Schwinoujsee (FOB formula). The agreed quantity of coal covered by the contract is 210 Thousand. Tone, Ring. Both parties agreed on the possibility of reducing or increasing the amount of coal contracted by 15%.” – wrote in the report.
In this case, the counterparty is a US capital firm. It has been added that the value of the contract during its term will be variable.
“The estimated revenue from this contract should amount to approximately PLN 170 million net. At the same time, this amount may be overestimated as a result of the final transfer of the already delivered quantity, coal standards and prices of ARA contracts during the delivery period “- it was emphasized.
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