SEAR starts production at E. Kalimantan coking coal project
Saturday, August 2 2014 - 11:58 AM WIB
ASX-listed South East Asia Resources Ltd (SEAR) said that coal production has commenced at its PT Pola Andhika Realtor (PAR) coking coal project in East Kalimantan.
The company said in a statement Thursday that a fleet of Cat and Doosan excavators, Cat dozers, dump trucks and support equipment have been mobilized in Pits 1 and 2 of PT PAR area. In addition, major civil works are being applied to the construction of haul road and bridge repairs for trucking of the coal to the port.
?Some delays have been experienced during the period with unseasonal wet weather and the annual Ramadan holiday period,? the company said.
South East Asia Resources said finalization of the domestic off-take arrangements have been undertaken with the coking coal for steel mills to be barged from the port of Telen, which is 32 kilometers form the PT PAR mine. Coal transportation by truck has commenced, with product coal stockpiles now being prepared at Tele for conveyor barge loading.
The scheduled coal shipments under the off-take arrangements will be during August given the Ramadan (Muslim Holiday) period occurring in July, the company said.
The company also said it has additionally commenced negotiations with major off-take companies for export supply beyond the domestic supply chain.
On July, 2014, the company announced that it had secured, through its wholly owned Singapore subsidiary South East Asia Energy Resources Pte Ltd (SEAER), US$1 million in funding. The funds received have been used for continued production of the PT PAR coking coal project and the development of the companies' other pipeline projects.
Editing ber Reiner Simanjuntak