China Qinfa's Indonesian subsidiary to sell 70,000 t of coal to Zhejiang Energy

China Qinfang Group announced on May 7 that its Indonesian subsidiary PT Sumber Daya Energi (SDE) has signed a supply agreement to sell 70,000 tonnes of Indonesian thermal coal to a unit of Zhejiang Energy Group, a Chinese state-owned power producer.

The deal, valued at about Yuan 47 million ($6.9 million) based on current coal prices, allows for a variation of plus or minus 10% in volume, according to the filing. Shipments are scheduled to begin this month and will continue until the contracted volume is fully delivered and settled. The buyer,