Resource Alam?s subsidiary undertaking exploration
Thursday, March 8 2012 - 02:21 AM WIB
Indonesia-listed coal miner PT Resource Alam Indonesia Tbk reported that its wholly-subsidiary PT Insani Baraperkasa is undertaking the exploration activity in sub-block South Purwajaya at Loajanan, East Kalimantan for JORC reserves assessment. The company said that the sub-block of South Purwajaya is currently progressing with further drilling.
It said that exploration method used JORC standard and was carried out by third party until February 2012, costing about US$ 1,200,921. ?The assays result from that block is in the process of reserves assessment," said company in its report submitted to IDX.
The company reported the next action plan is to conduct a geology survey for Loajanan Block to determine the mineable potential of sub blocks. Meanwhile the Separi block is still being evaluated for drilling. The company claimed that the the production plan for the entire block of PT Insani Baraperkasa?s PKP2B for has been approved by the Minister of Energy and Natural Resources.
Editing by Adianto P. Simamora