AOM sees C. Kalimantan coal mine to start production early 2009
Tuesday, November 4 2008 - 01:54 AM WIB
Australia Oriental Minerals NL expects coal production from its Central Kalimantan concession to start in the first quarter of 2009.
The company said in a report last week that a contractor has been appointed in October 2008 and has commenced site preparation and preliminary excavation work.
It did not say the expected production from the mine.
Oriental, together with its major shareholder Malaysia Smelting Corporation Berhad had entered deal to each acquire 30% interest in Asiatic Coal Pte Ltd which has rights in a mining concession of approximately 4,005 hectares located in Central Kalimantan for US$6.75 million.
The exploration target for this drilling programme, based on preliminary results, is 7 million tonnes to 10 million tonnes. (denny)