Altura targets 500k tpa, awaits permits

By Nellawati

ASX-listed Altura Mining recently reported it has received confirmation that the IUP of subsidiaries PT Suryaraya Cahaya Cemerlang (SCC) and PT Suryaraya Permata Khatulistiwa (SPK) are placed on the Clean and Clear register, in addition to having three Forestry Land Use Permits (exploitation) applications in progress with Ministry of Forestry.

Initial mining development will commence in SPK, the most northern IUP, and progress south into SCC and potentially east to PT Suryaraya Pusaka (SP) as coal resources are defined, " the company said in its quarterly report.

Altura is aiming to secure approval from the Ministry of Forestry in order to commence construction works for the mine during Q4 2012. If the approval timetable can be met then first coal production is anticipated in Q1 2013. Initial coal production will be at a rate of 500,000 tonnes per annum (tpa) ramping up to 1,500,000 tpa.

"Coal will be mined from SPK and hauled some 110 kilometres to a port site on the Barito River. Coal will be loaded on barges and transported down the Barito River to an offshore anchorage point for vessel loading.

Third party use of 55 kilometres of haul road, crushing plant and barge loading facility is currently being negotiated, in which successful completion of these negotiations will substantially reduce start up capital and development lead time.

A ?Lidar? aerial topographical survey has been completed for Tabalong tenements and proposed road haulage route options.

Exploitation Forestry Permits (Pinjam Pakai) are being sought for SPK, SCC and SP to allow for the mining development. It is hoped that SPK will be issued with the Forestry Permit in the near future with SCC and SP shortly after however backlogs in issuing permits continues to cause delays with the exact timing for the issue of Forestry Permits uncertain.

The Tabalong Coal Project consists of five (5) Mining Licences (IUPs) in the province of South Kalimantan on the island of Borneo. Currently three (3) IUPs are granted for Operation Production and Altura is seeking the necessary Forestry Land Use approvals to allow mining to proceed.

The remaining two (2) IUPs are granted for Exploration with Altura planning to fast track Operation Production approval upon completion of the exploration phase.

Editing by Er Audy Zandri