Churchill Mining to speed up exploitation of E.Kalimantan coal project

Australian junior miner listed in London Stock Exchange said it plan to swiftly work to speed up exploitation of its newly acquired Sendawar coal project in East Kalimantan.

The company said in an announcement on Thursday that it would seek status lift from explorer to miner the mid-term by delineating a reserve on the project so that it can begin trial mining with a view to producing immediate cash-flow.

The company said it would begin preliminary discussions with potential off-take partners, banks and other finance institutions at the appropriate time to aid its next planned phases of development. ?Any such revenues from this mining programme will then be redirected back into the Project to work towards defining a large resource base that will support a multi-million tonne mining operation,? said the company.

Churchill Mining acquired Sendawar coal project earlier this month. The coal project lies in close proximity to two operating open-cut mines: Thai miner Banpu?s Trubaindo mine and the privately-owned Gunung Bayan mine. The Sendawar project is located within close proximity to the Mahakam river via which coal is shipped to the port of Samarinda. (alex)