Coal news and updates

Rohit Ferro-Tech Ltd arm commences commercial sales from coal mine

The Pt Bara Prima Mandiri (BPM) having a Coking Coal mine located in Central Kalimantan Province of Indonesia owned by Rohit Ferro-Tech Ltd through its wholly owned subsidiary M/s. SKP Overseas Pte Ltd., Singapore has started commercial sales on November 19, 2013 by shipping its first cargo to China.

The Company is in the process of finalising one of the largest mining contractors in Indonesia for expanding the production to reach at the optimum production capacity by March, 2014.

The Company has targeted to produce approx. 500000 MT of Coking Coal per year from the open cast reserves. Considering the huge potential in underground mining the Company is also doing a further techno-commercial study to enhance the capacity in coming years.

Shares of Rohit Ferro-Tech Ltd was last trading in BSE at Rs.11.19, down by Rs.0.58 or 4.93%. The stock hit an intraday high of Rs.11.80 and low of Rs.11.19.

The total traded quantity was 2.07 lakhs as compared to 2 week average of 2.42 lakhs.

Source: Equity Bulls