Waratah eyeing E. Kalimantan coal mine

Canada's TSX Venture Exchange-listed coal miner Waratah Coal Inc., announced Thursday it had commenced a targeted project investment strategy within coal-rich East Kalimantan province.

The company did not give further detail.

"Waratah believes Indonesia will likely overtake Australia as the largest exporter of coal products and accordingly regards it as a key part of the Company's development strategy. In 2005, Indonesia exported more thermal coal than Australia, and Waratah believes this trend will continue, based on the large resource base in East Kalimantan, and the proximity to the strongest-growing coal importers such as China, India, Japan and Taiwan," it said. (alex)