Killara leaves manganese, focus on coal, gold

By Nellawati

ASX-listed Killara Resources recently stated it has decided not to pursue its Belu manganese project in West Timor that was acquired in 2010, currently conducting due diligence on four coal assets in Kalimantan and Sumatra and also a gold project in Kalimantan.

"The decision (not to pursue Belu asset) is in line with this approach. The board believes that by concentrating on a commodity like coal or gold with its ongoing global demand there is greater potential to generate shareholder value," the company said in a statement released at the exchange.

Killara recently sent a field team to conduct a due diligence and socialization program to the Bengkulu coal concession in Sumatra, which it said is "in the same region as our new strategic alliance partner?s operating coal mine," without going into details.

Editing by Er Audy Zandri