ASL ups coal reserves estimate at E. Kalimantan concession

Singapore shipping firm ASL Marine Holdings reported on Thursday that current exploratory works indicated that coal reserves at its Tabang concession in East Kalimantan could reach up to 100 million tons, doubling the initial estimates based on earlier exploratory works.

The company, however, said that it was unable to verify the revised coal reserves estimate, as further detailed exploratory activities are still ongoing. ?The company would make the appropriate announcement when more information is available,? it said.

ASL?s subsidiary ASL Energy has 50.2% interest in Pan Assets International Limited, which owns the exclusive rights to conduct all mining and marketing of coal for the Tabang Coal Concession. (alex)