Coal Fe acquires Sumatra iron ore concessions
Thursday, January 31 2008 - 11:57 PM WIB
Perth-based mining firm Coal Fe Resources Limited reported on Friday that its subsidiary Techventure Indocoal has on Jan 31, 2008 has entered into cooperation agreement through JV basis for a 70 percent interest in four companies that hold iron ore concession in West and Central Sumatra.
The company said that the general survey on the concession showed iron ore presence is indicated by magnetite content of rock boulders along slope hills, foot hills and creeks.
The company is planning to start exploration activities March 2008. (alex/denny)
Details of the iron ore concessions are as follows:
| Project | Location | JV partner / Manager |
Area (Ha) |
Target Type / Comments |
| Andalas Mangani Perkasa | Kecamatan Rao | PT. Andalas Mangani Perkasa | 5,116 | Badded iron deposit |
| Andalas Platina Orienta | Kecamatan Lubok Sikaping | PT. Andalas Platina Orienta | 2,491 | Badded iron deposit |
| Andalas Basindo Natura | Kecamtan Rao, Rao Selatan and Padang Gelugur | PT. Andalas Basindo Natura | 3,317 | Badded iron deposit |
| Andalas Alam Nasindo | Kecamatan Lubok Sikaping | PT. Andalas Alam Nasindo | 1,634 | Badded iron deposit |
| Total | 12,558 | |||