By Demas Simbolon
South East Asia Energy Resources Pte Ltd (SEAE) has signed agreement to manage, operate and market 100 percent of the coking coal from PT PAR in East Kalimantan, the company said in the statement.
It said that the agreement would provide SEAE full title to all coal and production to existing jetty port facilities 34kms from the mine. All infrastructures is in place for immediate mine production including camp, mining equipment, haul road and processing crushing facilities.
It said that the management license agreement grants SEAE exclusivity to the project during the due diligence period.
The Coking Coal Project comprises of two coking coal-mining concessions with a total area of 164 ha with (UP Production approval over the whole area.
The coal quality has been sampled over the 4 coal seams by SEAE Geologists and has been sent for independent analysis, the results of which are expected to be received shortly.
It said that the company will commercially market the coal as Coking Coal, and that negotiations were underway with a Chinese Steel Mill in this regard.
Editing by Adianto P. Simamora
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