Strike Resources updates Berau coal project
Monday, August 2 2010 - 05:04 AM WIB
Berau Thermal Coal Project - E. Kalimantan (Strike 100%)
Project Development
During the June quarter several significant steps towards development of the Berau thermal coal project were realized:
? Material progress has been made in discussions with our Indonesian partner PT Kaltim Jaya Bara (PT KJB) on the preferred partnership structure and development option for the project.
? The budget-and work plan submitted as a requirement under the Mining Production Operations Licence (Izin Usaha Pertambangan Operasi Produksi or IUP Production Operations) under Indonesia?s new Mining Law has been approved verbally by the relevant authorities. Official written confirmation of this approval is awaited.
? Advice has been received from our partner PT KJB that approval has been given to the application for a Special Area Port License, one of three port licenses required.
? Advice has been received from our partner PT KJB that approval has been given by Central Forestry to the alignment for the proposed mine-site to barge-port haul road
? Analysis of all tenders is underway, including the second round of mining contract proposals. This work is aimed at confirming the key capital and operating cost components of the project and facilitating award of the mining and haul road contracts shortly after an investment decision on the Project.
? Approval has been obatained from Regional Forestry with respect the logging of trees in the area that will be disturbed by the mining subject to completion of cataloguing tree species and quantities in the area of disturbance. This work has commenced and will be completed during the September quarter. (end of excerpt)