Axis Coal Trading Pte Ltd.
Axis Coal Trading Pte Ltd. (ACT) is an incorporated joint venture between Star Ascent Energy Pte Ltd. and Well Vintage Enterprises Pte Ltd. established in Singapore as a specific coal trading company. Through the subscription of shares, the entity represents shared interest of 50% and 50% on Indonesian coal projects.
ACT has successfully secured a reserved coal block of 10 million Mt at (GAR 4200) (JORC) which will be mined in the South Sumatra region of Indonesia.
ACT has entered a long-term coal sales agreement, with the coal pre-sold to Indian buyers at index pricing, with plans to produce an average of 2 million tons a year between 2022-2027.
Star Ascent Energy Pte Ltd. is a company engaged in coal trading with expertise and networks covering financial, contractors and end users for coal supply. They are a strategic partner in Axis Coal Trading Pte Ltd., who has an integrated supply chain both through Indonesia and India, a strong balance sheet and a long-term outlook. Star Ascent Energy Pte Ltd. will handle the downstream commodity trading, shipping, local logistics to direct stock and sale buyers.