The international coal trading company HMS Bergbau AG has concluded a sales agreement for up to 600,000 t of African steam coal. The contract is to last for a period of one year, and is based on an exclusive marketing agreement between HMS Bergbau AG, its majority shareholder IchorCoal, and IchorCoal subsidiary Vunene Mining.
“This agreement for the sale of such a significant volume of steam coal brings us one step closer to our strategic goal of increasing our presence on the thriving coal market in southern Africa”, said Heinz Schernikau, CEO of HMS Bergbau AG.
He continued: “The exclusive agreement with our parent company IchorCoal guarantees us a long-term competitive advantage in southern Africa, while, at the same time, generating substantial, projectable sales revenues with higher margins. We also intend to switch our operational focus to expanding African and Asian business in the future.”
Adapted from press release by Katie Woodward
Read the article online at: https://www.worldcoal.com/coal/04102013/african_expansion_for_hms_bergbau_ag_94/