Australia?s ECT to run dewatering test on Ilthabi?s low rank coal
Wednesday, March 11 2009 - 04:01 AM WIB
Coldry is claimed to be the world?s first economic method for dewatering brown coal, creating a high energy pellet with significantly reduced CO2 emissions compared to brown coal. The pellet is suitable for export as a black coal substitute.
ECT Chief Executive Kos Galtos said in a statement to Australian bourse that once the test is completed and successful, both firms might sign a Heads of Agreement for partnership.
?IBU can provide sufficient coal supply to meet current and future coal requirements for a >10M t.p.a Coldry production plant. The opportunity to access such a large resource in Indonesia will provide the Coldry plant with a key footprint into the South East Asian Market where there are a large number of coal fired power stations and consequently a huge market for the final product? he said.
According to the statement, IBU controls over 3.3 billion tons of JORC (Joint Ore Reserves Committee) resources, which is expected to double upon further exploration, and has closed a US$135 million privately-arranged equity-linked note financing facility for mine development. The mine is currently producing up to 2 million tons per annum (MTPA) and plans to ramp up production to 10 to 15 MTPA over the next 24 months.
IBU?s Trevor Butcher said he is excited about ECT?s Coldry technology and sees the opportunity to enter into an agreement to use ECT's cleaner coal technology.
?It is IBU?s intention to enter into a joint venture partnership with ECT to construct a Coldry plant in East Kalimantan and to provide enough coal at an agreed price for at least a 10M t.p.a plant,? Butcher said. (Robert)