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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	AFA
Latest Price:	0.16 (0.00%)
52-week High:	0.16
52-week Low:	0.09
Market Cap:	47.86M

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ASF Group

ASF Group (ASX: AFA), through its wholly owned subsidiary, ASF Resources Pty Ltd (ASFR), has assembled mineral exploration projects in Australia. ASFR's strategy is to build a portfolio of quality exploration, energy and mining projects and enter partnering and co-investing arrangements with major Chinese mining groups. The Company has established relationships with a number of major mining groups in China that are interested to invest in Australia's energy & resources sector.

ASF Group's China coal business gains wharf space at Port Kembla

Thursday, January 28, 2010

Australia-China resources conduit, ASF Group (ASX: AFA) has followed a coal export sales deal to China - with an announcement it has secured wharf space at Port Kembla, New South Wales.

ASF Energy Pty Limited has secured permanent wharf space at Port Kembla, under a licence agreement with Australian Amalgamated Terminals, to facilitate regular supply of coal to Fujian Materials (Group) Co. Ltd.

Investors may recall, ASF entered into a coal sales agreement with Fujian with for the export sale of coal to China, expected to involve regular monthly shipments of 45,000 tonnes.

In addition, a supply agreement to procure coal supply to meet Fujian’s requirements for monthly shipments from Port Kembla.

Coal will be purchased and sold onto Fujian under a letter of credit presently in place. The continuation of this business is subject to the completion of a trial shipment.

Should it continue as anticipated, ASF said it will lead to a significant increase in revenues for the half year 2010 and it is expected to make a positive contribution to future earnings.

ASF is presently examining other supply sources of Australian East Coast coal and is in negotiations which may lead to securing supply with a view to expanding this coal export business to China.

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