Indonesian listed coking coal mining firm Cokal Limited (ASX: CKA) stated that it is seeking to upgrade the IUP exploration license of its 75 percent-owned coking coal subsidiary PT Tambang Benua Alam Raya (TBAR) into a production and operation IUP mining business license.
“Cokal is finalizing its efforts to acquire regulatory approval for the IUP (exploration license) upgrade process application to a production and operation IUP, equivalent to a mining license, (for the TBAR project),” the company said in a statement last week.
Cokal said that outcrop mapping of four seams over 17-km strike length indicates potential for a substantial resource of high-grade coking coal in this deposit.
No exploration activity was conducted by Cokal during the half-year. “An exploration drilling program for TBAR is being formulated to be undertaken as soon as BBM mine development is underway,” the company said.
The 18,850-ha TBAR project is located near Cokal’s main BBM coking coal mine project in Indonesia’s Central Kalimantan Province.
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