— St Barbara Limited (“St Barbara” or the “Company”) (ASX:SBM) advises that its Simberi Operations is well stocked with diesel fuel. This relates to recent inquiries about Simberi’s fuel stocks given the impact on global diesel fuel supply chains following the shipping restrictions through the Strait of Hormuz.
Diesel for the Simberi Operations is supplied by Puma Energy (majority owned by the Trafigura Group) and originates from various refineries in Asia, including Singapore, Malaysia, South Korea and Japan. The Simberi Operations currently use approximately 65,000 litres per day of diesel for the mining fleet and power generation.
Current diesel supply stored on Simberi Island is approximately 4.7 million litres (sufficient to cover more than two months’ usage), with another 3.5 million litres in allocated storage in country at Lae and Port Moresby storage locations. These stocks are anticipated to be sufficient to cover well in excess of three months of requirements for mining and power generation. While 1.8 million litres of the diesel in storage at Lae will only be priced at the end of March 2026,the pricing of the balance,6.4 million litres, of diesel in storage has been locked in and paid for based on the Mean of Platts Singapore average price for January (i.e. pre-conflict pricing).
St Barbara has been taking the precaution of holding increased diesel storage for several months now.
Authorised by
Andrew Strelein
Managing Director and CEO
For more information
Investor Relations
David Cotterell
General Manager Business Development & Investor Relations
T: +61 3 8660 1959 M: +61 447 644 648
Media Relations
Paul Ryan / Russell Quinn
Sodali & Co.
M: +61 409 296 511 / +61 403 322 097
Source: https://news.marketersmedia.com/simberi-operations-well-stocked-with-fuel/89187178
Release Id: 89187178
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