Cokal Limited released updates on four mining projects in Indonesia today, but faces permit stalls on three of them.
The company has received all required permits for the Bumi Barito (BBM) project, which Cokal owns 60 per cent interest in.
The 14,980 hectare land contains multiple seams of high grade metallurgical coal. Mining licence, environmental approval, port construction approval and forestry permit have all been awarded.
Indonesian company Bara Mineral Asri has contributed $US2 million to fund the BBM mine exploration. Cokal will repay in coal sales when mining commences.
Cokal is currently focused on reducing transport costs for BBM by using barges.
The current mining licence on the BBM project covers 20 years and is subject to an optional further 20 if pursued. Exploration activity will shortly follow.
Cokal currently awaits approval on a 2014 forestry permit from the government to commence work on their Tambang Benua Alam Raya project.
The company owns 75 per cent interest in the 18,850 hectare site. Four high grade seams of high grade coking coal over 17km are currently surveyed.
Cokal recently received a forestry exploration permit for their Borneo Bara Prima project. The company owns 60 per cent interest in the site and exploration will shortly follow.
The company still awaits processing of their forestry exploration permit for the Anugerah Alam Katingan site, which they own 75 per cent interest in.