Cokal publishes annual report on mineral resources and reserves
published by
Jessica casey,
Editorial assistant
Coal of the world,
Cokal Ltd has published its annual statement of mineral resources and ore reserves as of June 30, 2021.
Strong points
- Significant growth in declared ore reserves for the Bumi Barito Mineral (BBM) project to 23.1 million t, which represents an increase of 22% year-on-year.
- Very attractive financial measures with a net present value (NPV) for the BBM project estimated at 255.3 million US dollars (350.2 million Australian dollars).
- Lucrative opportunity to continue converting BBM’s significant metallurgical coal mineral resources of 260 million tonnes into ore reserves, resulting in anticipated future increases in expected annual production and / or mine life extensions .
An upcoming drilling program on the Tambang Benua Alam Raya (TBAR) project, contiguous to BBM and prospecting for large-scale metallurgical coal deposits, should result in a first JORC resource in 2022.
This statement demonstrates the continued execution of Cokal’s strategy of producing low cost, high margin metallurgical coal with salable production of BBM (Cokal 60%) from 4Q21.
Changes in mineral resources and ore reserves are determined by ongoing engineering work undertaken at BBM, updated long-term coal price assumptions, and refinement of mine life operating assumptions, including operating costs and development capital expenditures.
Coka notes the significant and comprehensive technical work previously completed at BBM, including the feasibility study undertaken by Resindo Resources & Energy Indonesia, announced on February 13, 2014; and an updated feasibility study, indicating significant reductions in operating and capital costs of BBM, undertaken by Resindo, announced on November 2, 2016.
Read the article online at: https://www.worldcoal.com/coal/01102021/cokal-releases-annual-mineral-resource-and-reserve-statement/
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