Coal FE targets 50,000 tons per month
Monday, April 30 2012 - 09:48 AM WIB
Australia listed Coal FE Resources Limited stated that it's targeting up to 50,000 tons of monthly coal output from its Abadi project.
With Operation Production license owned by PT Pancarang Surya Abadi, Coal FE's concession is located in the district of Muara Badak and Anggana of Kutai Kartanegara Regency in East Kalimantan, occupying a down sized area of 991 hectares.
Of the total area, drilling is initiated on 300 hectares of land, with the remaining 691 hectares presently unexplored.
"We planned that stable production of 50,000 tons per month is maintained before the next production target of 80,000 tons per month is looked at," stated the company in its quarterly report ended March 31, 2012.
In order to achieve the target, the company has obtained new excavators and loaders that have been added to the fleet of machinery on site during the last quarter. New dump trucks for removing overburden are expected to be delivered in the next quarter to significantly improve the run of mine operational efficiency. The company has also commissioned Melbourne based MiningOne to conduct pit optimization study to define the mineable reserves for the planned mine pit, expected to deliver the results in the second quarter.
Coal FE plans to carry out the next phase of exploration in the remaining 691 hectares of concession land this year, currently finalizing the plan to raise the necessary capital.
Editing by Audy Zandri