INDONESIA - TCM project secures ‘clean and clear’ status

The Indonesian Ministry of Energy & Mineral Resources has stamped Pan Asia’s Trans Coal Minergy (TCM) project in South Kalimantan as a ‘Clean and Clear’ concession, providing validity for the company to continue with its development. 

This designation confirms the flagship project has been scrutinized by the ministry to determine whether it overlaps with other concessions. It is only the third list of cleared concessions made by the government since the 2009 mining law came into effect.

Pan Asia chief executive officer Alan Hopkins says, “This is timely confirmation of clean title for our project which has a feasibility study coming out imminently.”

The high CV thermal coal project covers 3440 hectares in the Mantewe district, Tanah Bumbu Regency, in South Kalimantan province.

In March Pan Asia made a further increase to the JORC resource estimate at the project, announcing a 12% increase for a total measured, indicated and inferred project resource of 128.8 million tonnes. The company says it has an exploration target of between 200 and 220 million tonnes of 6500-6800 CV coal.

An exploratory drill program at the concession has confirmed a potential second underground deposit in the northern section of the project. 4 holes were completed 1.5km north of the previously drilled limit with drill core and geophysical logging confirming the continuity of the same coal seams from the TCM South deposit, which is currently undergoing a feasibility study for an underground longwall mining operation.

Pan Asia aims to be a major supplier of key resources into the expanding Asian markets.

www.panasiacorp.com.au