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Cokal reports reserve update for the Bumi Barito Mineral project

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World Coal,

Metallurgical coal group Cokal Ltd has announced an update on its coal reserve statement for the opencast coal operation in the eastern portion of the Bumi Barito Mineral (BBM) coal project.

The total reserve estimate 20.2 million t of ROM comprises 13 million t proved reserves, and 7.2 million t probable coal reserves in accordance with the 2012 JORC Code.

A total marketable coal reserve of 16.9 million t (US$150/t for metallurgical coal and US$112.50/t for PCI coal) has been confirmed as metallurgical coal from analyses conducted in an Australian laboratory.

According to the company, the economic analysis of BBM’s coal resources indicated that with additional drilling to convert inferred resources to indicated or measured resources, there is potential to delineate additional coal reserves.

The J seam reserves (5.5 million t proved and 3.2 million t probable product coal) is 100% metallurgical coal. In the case of Seams B, C and D, 3 million t proved and 1.1 million t probable is metallurgical coal reserves, while 2.4 million t proved and 1.7 million t probable is PCI reserves.

B C and D products have premium qualities consisting low ash, low sulphur, low moisture and ultra-low phosphorus.

It is noted that low volatile PCI and medium to low volatile metallurgical coal suited to nearby Asian markets.

Construction of BBM Anak port is close to completion, barges are scheduled to arrive in August. Production mid-August planned to produce 10 000 tpm of a premium low Vol PCI.

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