Cokal awarded production mining lease in Indonesia
PERTH (miningweekly.com) – Coal developer Cokal has secured the last of its mining approval requirements for the Bumi Barito Mineral (BBM) coal project, in Central Kalimantan, obtaining the production mining lease.
Cokal’s executive chairperson Peter Lynch said on Wednesday that obtaining the production mining lease was another major milestone for the BBM project, ensuring that production could start by the first half of 2014.
The production mining lease covers an area of 15 000 ha and allows for the full development of the eastern block of BBM, into a six-million-ton-a-year operation. The licence also allows for exploration to continue on the remaining area.
The licence would have a 20-year term, with two 10-year extensions permitted.
Lynch said that Cokal was now focused on upgrading the forestry exploration permit to a production permit. This was scheduled to be completed by the end of the third quarter, and is the final major approval required to commence construction of the project.
Cokal is pursing the full development of the eastern block of the BBM project consistent with Cokal’s prefeasibility study, which envisages development of the BBM project in two stages, an initial two-million-ton-a-year direct ship operation with an expansion to up to six-million tons a year at a later stage.
Work has also started on a number of the key final feasibility areas for the project. These were all expected to be completed by the end of the third quarter. In addition to these key design areas, negotiations with the critical contractors and suppliers for the project were under way.
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