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Additional Information
Market: ASX
Sector: General Mining
Epic: ASX: AFA
News: Latest news
Web Site: ASF Group
Other Articles: 28-01-201021-01-201023-09-2009

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Saturday March 13, 08:47Premium risk at Prudential

Insurance giant Prudential has stolen the headlines this week, after their decision to buy AIA, the Asian life business of US insurer AIG, has attracted a mixed response from shareholders.

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Friday March 12, 07:58Lithium and rare earths markets poised for growth

Right now, the world relies almost completely on China for its rare-earth supply. The Chinese have made it clear that they want to keep more supply for themselves as they try to be the world leader in green technology

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Friday March 12, 07:51White Energy enters coal deal with China Guodian Group

White Energy Company (ASX: WEC; OTCQX: WECFY) has inked a non-binding heads of agreement with state owned Guodian Inner Mongolian Energy Sources Co Limited to develop a coal upgrading [...]

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ASF Group

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.

Thursday, January 28, 2010

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

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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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