Cokal: AAK mine ?on-hold? status amid police probe
Tuesday, February 9 2016 - 01:52 AM WIB
ASX-listed coking coal company Cokal Ltd said that the Central Kalimantan police have put its Anugerah Alam Katingan (AAK) coal concession in the province ?on-hold? status since January 12 amid ongoing investigation into ownership dispute issues.
?Cokal is an aggrieved party and will await the outcome of the police investigation into a period predating Cokal?s interest in the project,? the company said in a recent statement, but did not provide further details about the case.
Cokal said that applications for the so-called Exploration Forestry Permit (IPPKH) and Clean and Clear Certificates continue to be processed.
Cokal has a 75 percent share of AAK located in the North Barito basin of Central Kalimantan, with the remainder 25 percent held by Indonesian partners.
According to company website, initial geological mapping within the concession area (5,000 ha) has identified five coal outcrops with coal seam thicknesses ranging between 1.2m and 1.8m thick. The coals occur within the Haloq Sandstone, which is the same formation as the metallurgical coals of other Cokal?s BBM and BBP projects in Central Kalimantan.
Laboratory analysis results of one of the coal samples depicts a low ash, high specific energy coal indicative of a good quality anthracite suited to the export market. The field descriptions of the coal are also indicative of a vitreous high rank coal. Further exploration activity is expected to define a wider distribution and consistency of coal development within the concession.
Editing by Reiner Simanjuntak