China Qinfa Group announced on December 2 that its non-wholly owned subsidiary PT Sumber Daya Energi (SDE) in Indonesia has entered into a coal supply agreement with Zhejiang Energy Asia Pacific.

Under the agreement, Zhejiang Energy Asia Pacific will purchase 150,000 tonnes of Indonesian thermal coal from SDE, with the base quantity subject to 10% upward or downward adjustments. The volume will be divided into two shipments, each with 75,000 tonnes.

The shipments were scheduled to commence from November 2025 and end when the delivery and payment for the contracted quantity have been fully performed by the parties, according to the agreement.

Regarding the transaction term, the announcement did not disclose the specific duration, only stating it is for a relatively short period. Previously disclosed plans for a 20-year agreement were set aside in favor of this short-term contract to assess annual production capacity.

Previously, the two parties reached a coal supply agreement with a base quantity of 75,000 tonnes, which was disclosed on September 30 and scheduled for shipment from October, with an estimated transaction value under 40 million yuan ($5.66 million).

On November 14, the two companies signed a new contract, raising the base quantity to 150,000 tonnes, with delivery starting from November in two batches.