Aussie firm eyeing other Indonesian coal mining contractors

Australian-listed telecommunication firm Cape Range Wireless is seeking investment opportunities in Kalimantan and is currently in talks with a number of coal mining contractors to form a joint venture.

?Should the company be successful in identifying a suitable joint venture partner, this approach will ease the financial commitments in respect of any coal project(s),? Cape said in statement on Tuesday.

Cape also reported that it had sold 3,000 metric tons of coal exploited from the Sepapah site, in South Kalimantan to a local Indonesian trader for approximately US$48 per ton.

The coal has been barged and has now left the site, it added.

Cape Range Wireless Ltd has bought a 100% stake in PT Metro Consolidated Resources (Metro), which has the right to conduct mining activities at the coal concession belonging to PT Senamas Energindo Mulia (SEM).

SEM is the holder of a third generation coal contract of work (CCoW) over a 49,080 ha concession in Kota Baru regency, South Kalimantan. (denny)