The Bumi Barito Mineral Project (BBM) is a PMA company with an ownership structure of 60% Cokal and 40% Indonesian owners.
The Project covers an area of ~15,000ha and is immediately adjacent to BHPBilliton’s Juloi tenement, straddling the Barito River.
The low ash coking coal will be produced from shallow opencut mining extraction using trucks and shovels. The coal will travel ~700 kilometres down the Barito River using river barging techniques tried and proven on similar rivers in many countries including the USA and Brazil.
Cokal have recently entered into a 50:50 Joint Venture (JV) with Meratus Advance Maritime (MDM). The JV will own and manage the shallow river barges and tugs designed specifically for BBM. MDM is part of the Meratus Group which has operated in Indonesian shipping since 1957 and has provided barging and shipping services to a number of the major Kalimantan coal operations. MDM have also worked on the Barito River over a number of years.
BBM has defined a Total Resource of 264Mt comprised of 10.5Mt Measured, 13.5Mt Indicated and 240Mt Inferred Resources in accordance with the JORC Code 2012. Results of the average coal quality for Seams ‘J’ and ‘B, C, D’ are shown in the tables below.
Highlights of the Project include:
December – JDC acquired by ASX-listed Altera Resources
December – Acquisition of BBM, BBP, AAK and AAM interests
February – Altera Resources changes name to Cokal Limited
June – BBM lab results confirm presence of premium coking coal
September – Cokal acquired an additional 10% interest in BBM and BBP
May – Identification of additional premium coking coal – J Seam
June – BBM Exploration Target set at 200 to 350Mt
August – Update of BBM JORC Resources to 77Mt
October – BBM Pre-feasibility Study completed
December – AMDAL terms of reference approved
February – BBM River Barge Loading Facility approved
April – BBM AMDAL EIS approval granted
May – BBM Production Mining Lease (IUP) approval granted
October – Update of BBM JORC Resources to 264Mt
Note 1: Exploration Target – All statements as to Exploration Targets of Cokal Limited and statements as to potential quality and grade are conceptual in nature. There has been insufficient exploration undertaken to date to define a coal resource and identification of a resource will be totally dependent on the outcome of further exploration. Any statement contained in this document as to exploration results or Exploration Targets has been made consistent with the requirements of the Australasian code for reporting of exploration results, mineral resources and ore reserves (“JORC Code”)