Kalimantan Gold in ?advanced talks? to sell E. Kalimantan coal concession
Monday, November 30 2009 - 04:28 PM WIB
Vancouver-based mineral and coal exploration firm Kalimantan Gold Limited said it planned to sell its East Kalimantan coal concession.
The company said in Third Quarter Report released Monday that ?advanced negotiations are in process for the sale of an 80% interest in the Indo Bara Pratama (IBP) coal Concession?.
The company did not give further detail.
The company reported in march 2009 that work completed on the concession indicated a potential deposit of between 100 and 120 million tonnes of between 4,800 and 5,000 kcal/kg coal (ADB) and low ash and low sulfur content. (alex)