Killara receives production IUP
Tuesday, March 4 2014 - 12:56 PM WIB
ASX-listed Killara Resources Ltd announced on Tuesday that it has received formal approval for the production permit or Izin Usaha Pertambangan (IUP) No:540/005/IUPOP/MB-PBAT/I/2011) which is listed as ?clean and clear? by the Ministry of Energy and Mineral Resources and covers a 1,002ha area in the Tenggarong district, East Kalimantan.
The mining license had an automatic right for renewal, the renewal application was lodged with in the stipulated time frame and manner prescribed and an extension duly issued. The extension period provides for a further term of four years under new permit number: IUP 540/042/IUP-OP/MB-PBAT/XII/2013.
Managing Director Robert Kipp stated he is delighted with the extension as it ensures the protection of Killara?s vested interest in this coal project. ?It is also important to note the significant role that Reza Zulkarnaen, President Director of PT Killara Resources and our in house management team have played in securing this coal permit extension, navigating foreign laws and procedures are not easy in the best of times and the association with the Zulkarnaen family as strategic partners and major shareholder has greatly assisted in securing tenure on this asset,? he said.
Killara is now in the production phase and looks forward to selling its first barge of coal.
Editing by Johannes Simbolon