Coal Fe starts first shipment

Australia-listed coal mining firm Coal Fe Resources Limited and its joint mining contractor, PT. Toba Jaya announced Thursday that the coal production in the PT. Pancaran Surya Abadi Coal Concession (Abadi Project) in East Kalimantan has been doubled to reach a monthly production of approximately 40,000 tonnes.

Subject to weather condition, the company and PT. Toba Jaya will strive to maintain a monthly production of 50,000 tonnes per month and gradually move to the next target of 80,000 tonnes per month.

The company wishes to further announce that PT. Toba Jaya has successfully completed the sale and delivery of 47,888 tonnes of steam coal from the Abadi Project onto a panamax sized vessel recently. The coal sale was with the calorific value of 5,100 ? 5,300 kcal/kg and delivered to India. This sale confirms the capability of the mine operations hi the Abadi Project to handle the pit-to-port and transhipment operations.

Subject to the completion of two further trial shipments on panamax sized vessels in the third quarter of 2011, the company and PT. Toba Jaya will negotiate for quantity contracts with deliveries in year 2012, it said. (romel)