Altura to commence production in Q1 2013

By Demas Simbolon

Australian-listed firm Altura Mining Limited announced that the company is expected to start production in the first quarter next year from its Tabalong Coal Project in South Kalimantan with the construction of required facilities is slated to be completed within this year?s end.

The company in its presentation says the planned production which would be one of the company?s key growth drivers in coal business this year, would be subject to final approval from its shareholders.

Tabalong project which has inferred resources of 3.6 million tons of coal is expected to produce between 500,000 and 1,500,000 tons per year.

It said that the operation target would be on barge cost of US$65 per ton and on barge price of $90 per ton.

The company?s road hauling to river port reaches 110 kilometers, said the company.

Editing by Adianto P. Simamora