Coal Fe seeks partners to develop E. Kalimantan coal mine

Australian firm Coal FE Resources Limited is discussing with third parties to assess possible joint venture to develop its Abadi coal reserevs in Kutai Kartanegara regency, East Kalimantan.

The company however does not identify the third parties in its quarterly report announced Thursday.

It said the Abadi project?s evaluation work was continuing with pre-feasibility study, which encompasses infrastructure, environmental and social studies to further improve confidence in the known resources and define additional resources.

The company will continue exploring the remaining area of the concession for further resources as part of the agreed program in the cooperation agreement with PT. Pancaran Surya Abadi, according to the report.

The Abadi project encompasses about 1,017 ha of lands in Selo Lai Area, Muara Badak district. Detailed exploration and drilling carried out in the south-western portion of the concession area indicate the existence of a combined resources of 27.26 million tons. (denny)