Production starts at BBM
PERTH (miningweekly.com) – ASX-listed Cokal has produced its first saleable coal from its Bumi Barito Mineral (BBM) operation in Indonesia.
The company on Tuesday said that metallurgical coal production is ramping up, with 120 000 t to 150 000 t of saleable coal forecast by the end of this calendar year. Production would then increase to 1.6-million tonnes a year in 2023, before reaching the nameplate capacity of 2-million tonnes of saleable coal a year by 2024.
First revenue from coal sales is expected by mid-November.
Cokal told shareholders that coal is currently being stockpiled at the BBM mine site, with hauling to Krajan Jetty set to start by October 24. BBM’s mining contractor will start an additional shift by the end of October, facilitating ramp-up of saleable coal production.
Cokal holds a 60% interest in the BBM project, which covers 14 980 ha. Cokal has environmental approval to mine at a rate of up to six-million tonnes a year, with the mining licence valid for 20 years, with a further two extensions of ten years each.
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