Delta Coal production reaches 900,000 tons in nine months
Thursday, October 31 2013 - 01:06 PM WIB
PT Binamitra Sumberarta has produced a total of 899,190 tons of coal from its mine in Kutai Kertanegara regency, East Kalimantan in the first nine months of the year, including 379,936 tons in the third quarter of the year, according to Altura Mining Limited (AML), an indirect shareholder in the firm.
Binamitra is owned by PT Delta Ultima Coal, where AML, listed in Australian Stock Exchange, has one third of equity. The equity was bought by the firm for US$25 million early this year. The coal is sold under the brand ?Delta Coal?.
In a statement filed with ASX on Thursday, AML did not provide comparative figures of production for last year.
Coal sold in the January-September 2013 period reached 862,913 tons, including 261,845 tons in the third quarter.
On the Tabalong coal joint venture, the firm said it continued with the resource evaluation program at Kodio Multicom (KM) and Marangkayu Bara Makarti (MBM) which are the southernmost tenements in the project area. These tenements are located significantly closer to the proposed river load-out facility on the Barito River. The focus of the evaluation work is to provide a maiden JORC compliant resource estimate of these tenements and the inclusion of Suryaraya Pusaka (SP) located to the east.
?The evaluation program is also aimed at confirming the coal types as well as potential quantities in the tenements. The Company believes there is good potential to identify both PCI and metallurgical coal with the combined Tabalong project area. The identification of these higher value coal types is viewed by the Company as a significant positive outcome of this relatively under explored region of South Kalimantan.,? the firm said.
The firm has 80 percent stake in each of KM and MBM.
Editing by Johannes Simbolon