SINGAPORE (Yosefardi) – Commodities player Noble Group suffered a 45.5% drop for natural resources due to challenging market since January 2014.
Noble Group also noted that during the period, the diversified miners suffered 34.4% drop in revenue, major miners/traders also experienced a 35.8% decline, major coal producers suffered 56.8% drop, ore producer posted 66% drop, while major copper producer experienced a 68.5% drop.
In term of prices, copper has declined 29.5% since January 2014, coal fell 30.8%, natural gas dropped 34.9%, sugar dropped 40.9%, WTI fell 48%, and iron ore dropped 58.2%.
In Indonesia, Noble focuses on servicing mining assets. It started its first Indonesia diesel supply chain delivery in October 2014.
While Noble sources the coal for this contract from one of its core origination market – Indonesia, Noble still has embedded optionality on source and can provide coal price risk management services to the plant.
In 2013, Noble was appointed as the exclusive long-term coal marketing agent and obtained offtake rights for a new Indonesian energy coal mine.
Established in 2007, PT Atlas Resources Tbk is an Indonesian coal producer that holds a number of Mining Business Licenses for production and exploration in the provinces of East Kalimantan and South Sumatra and Mining Authorisations for
exploration in the province of Papua.
Over the years, Noble has entered into a series of arrangements with Atlas, including port operating agreement, strategic development agreement, marketing agreement, and long-term coal sale agreement.
As one of the key coal producers in Indonesia, Atlas continues to be a strategic partner for Noble, particularly with Noble’s growing activities in Indonesia.