Altura Mining has received In-Principle Forest Area approval from the Indonesian Minister for Forestry for its 70%-owned PT Suryaraya Permata Khatulistiwa (SPK) IUP in the northern area of the Tabalong Coal Project in South Kalimantan. The approval area consists of 465.29 hectares and covers the greater proportion of the initial mining area planned for Tabalong.
The much sought after forestry approval is the final step before the issue of the Borrow and Use of Forest Area Permit (IPPKH) which will allow for commencement of construction and mining in the SPK IUP.
As part of a parallel process the company is also seeking an additional In-Principle Forest Area approval for the adjoining SCC IUP and it is anticipated that this subsequent approval will be gained in the near future.
The initial approval area allows for the mining pit, waste dumps, mine infrastructure and haul road with the survey and compliance documentation, including marking out of the area, to be completed in approximately three months. Additional approvals and exchange of IPPKH areas will be required as part of the ongoing mining project progression.
In addition, the company is also completing an updated coal resource estimate following the completion of the latest exploration evaluation on the Tabalong project. It is expected that the update will be completed by the end of the year.
Altura plans to commence mining at Tabalong in 2015, subject to statutory approvals, with a revised initial annual production target 500,000 tonnes of premium grade thermal coal with a longer term plan to ramp up to 1.5 million tonnes. The planned operation will consist of a surface mined and simply beneficiated product delivered to an offtake point on the Barito River, about 100km west of the mine site.