Cokal Limited is in the process of finalising the project funding facility offered by Platinum Partners that will fund construction and commissioning of the 2 million tpa Bumi Barito Mineral Project in Indonesia.
Bumi Barito is located in Central Kalimantan’s prospective metallurgical Upper Barito Coal Basin adjacent to BHP Billiton’s Joloi Project.
The facility of between US $80 million and US $100 million will also be used for Cokal’s general working capital requirements during this phase of development.
Bumi Barito has an estimated JORC coal resource of approximately 261 million tonnes of premium coking coal in multiple seams.
Edited from various sources by Katie Woodward
Read the article online at: https://www.worldcoal.com/coal/09042014/cokal_to_finalise_coal_funding_710/