Tiaro: Production at Anggana coal project recommences
Tuesday, May 27 2014 - 05:18 AM WIB
ASX-listed Tiaro Coal Limited said on Tuesday that production at the Anggana coal project in East Kalimantan has recommenced during the first quarter of this year, and initial coal shipments completed.
Tiaro, through its 55 percent stake in CM Basin Coal Holdings Ltd (CCH), owns 11 percent of the Anggana coal project. CCH invested $1.6 million last year to secure a 20 percent stake in the coal project, which has been targeted to produce 50,000 tons of coal per month.
The Anggana Coal Project includes an established mine (Bara Naga open cut) and three coal concessions totaling 287 hectares. Tiaro said that it was probing the possibility of access to further access to nearby coal concessions.
Editing by Reiner Simanjuntak