China Qinfa Unit Signs Coal Supply Deal With Zhejiang Energy Asia Pacific; Shares Gain 1%

MT Newswires Live

Sep 08

China Qinfa Group (HKG:0866) said its Indonesian subsidiary PT Sumber Daya Energi signed a coal supply agreement with Zhejiang Energy Asia Pacific, according to a Sept.5 Hong Kong bourse filing.

Shares of the coal company were up over 1% in morning trade on Monday.

Under the deal, Sumber Daya Energi will sell 70,000 metric tonnes of Indonesian steam coal, with delivery scheduled from September.

The estimated transaction value is capped at about $5.4 million based on current prices, with payments settled in yuan.

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