Waratah recently finished the loading and dispatch of the first 50,000 tonnes of thermal coal for export from its mine in South Kalimantan, Indonesia.
The shipment is a sign of the company’s strengthening commercial relationships with Indonesian partners and producers.
With the recent injection of cash from the ATO, Waratah looks set to develop and scale up this business towards profitability.
Back in February, Waratah formalised a heads of agreement with Marylebone Capital Corporation for the Indonesian coal joint venture.
Marylebone is an investment company specialising in resources and property. It boasts strong relationships with major iron ore producers in China and India.
