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HMS Bergbau AG locks in three year coal forwards from South Africa

News from August 12, 2016

  • Coal sourced under the exclusive marketing agreement with IchorCoal
  • Marketing of export coal from the Usutu and Penumbra mines in Mpumalanga Provence, South Africa
  • Deliveries start in August 2016

Berlin, 12. August 2016: HMS Bergbau AG, an international commodity trading group with operating expertise in mining, handling and trading of bulk commodities with a main focus on coal, has announced details regarding a three-year sales agreement with an international off-taker. HMS Bergbau Africa (Pty) Ltd will source the high-quality coal for export from the Usutu and Penumbra mines, both under ownership and management of the IchorCoal Group. The sale was concluded on the back of an existing exclusive marketing agreement with IchorCoal. The contracting party is HMS Bergbau Africa (Pty) Ltd, a fully owned subsidiary of HMS Bergbau AG.

“Through this high-volume contract in South Africa, HMS Bergbau AG is not only expanding its existing partnership with IchorCoal N.V., but is also underscoring its export and marketing strength on the international coal market, in which we act as a reliable trading partner. At the same time, this agreement is a clear sign that coal markets are recovering. Accordingly, we expect further coal marketing agreements, not only in South Africa,” said Heinz Schernikau, CEO of HMS Bergbau AG.