Altura gets forestry approval for mining area at Tabalong coal project
Tuesday, September 30 2014 - 01:42 AM WIB
ASX-listed Altura Mining Limited announced Tuesday that it has received In-Principle Forest Area approval from the Indonesian Minister for Forestry for its 70 percent owned PT Suryaraya Permata Khatulistiwa (SPK) IUP mining area in the northern area of the Tabalong Coal Project in South Kalimantan.
The much sought after forestry approval is the final step before the issue of the Borrow and Use of Forest Area Permit (or known in its Bahasa term as Ijin Pinjam Pakai Kawasan Hutan or IPPKH) which will allow for the commencement of construction and mining in the SPK IUP, the company said in a statement.
As part of a parallel process the company is also seeking an additional In-Principle Forest Area approval for the adjoining PT Suryaraya Cahaya Cemerlang (SCC) IUP and it is anticipated that this subsequent approval will be gained in the near future, it added.
The initial approval area of 465.29 hectares allows for the mining pit, waste dumps, mine infrastructure and haul road with the survey and compliance documentation (including marking out of the area) to be completed in approximately 3 months. Additional approvals and exchange of IPPKH areas will be required as part of the ongoing mining project progression.
In addition to the above approvals the company is also completing an updated coal resource estimate following the completion of the latest exploration evaluation on the Tabalong Coal Project. It is expected that the update will be completed during the fourth quarter of 2014, Altura said.
The Tabalong Coal Project is planned to commence mining in 2015 (subject to statutory approvals) with a revised initial production target 500,000 tpa (tons per annum) of premium grade thermal coal with a longer term plan to ramp up to 1,500,000 tpa. The planned operation will consist of a surface mined and simply beneficiated product delivered to an off-take point on the Barito River located approximately 100 kilometers to the west of the mine site.
Editing by Reiner Simanjuntak