White Energy reiterates plan to acquire coal mines in Kalimantan
Thursday, March 3 2016 - 01:32 AM WIB
ASX-listed White Energy Limited said it continued to work with several parties to identify coal deposits for acquisition in the Kalimantan region of Indonesia, which include coal upgrading opportunities requiring application of the BCB coal upgrading technology.
?White Energy representatives in Indonesia continued to perform due diligence work on a number of short‐listed coal concessions which have been identified for potential acquisition by the company,? the firm said in a statement Monday.
The company, which first announced the acquisition plan in 2014, said the coal properties being considered comprise a mixture of coal qualities. Most of the resources are likely to be suitable for upgrading using the BCB technology, which has the potential to greatly enhance the value of such projects.
In addition, the company also expected that some of the resources in question will not require application of the BCB technology, and can be mined and sold directly into the export markets.
White Energy is the exclusive worldwide licensee of a patented technology which upgrades high moisture, low value sub-bituminous and lignite coals through a low cost process of dehydration and compaction. This technology is known as the BCB technology and was developed by a consortia lead by the Commonwealth Scientific and Industrial Research Organisation (CSIRO).
Editing by Reiner Simanjuntak