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Tuesday, 23 April 13
REALM CONTINUES AS 51% OWNER AND MANAGER OF THE KATINGAN RIA THERMAL COAL PROJECT
 COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced today that, the commercial way forward for the development of its 51% held Indonesian thermal coal project, Katingan Ria, has been clarified following termination of the Master Agreement with its Indonesian Partners (PT SMAA).
Consequently Realm’s option to acquire an additional 24% in Katingan Ria for additional staged payments totaling US$17m has been cancelled, according to company’s announcements to ASX Limited today.
- Realm continues as 51% owner and manager of the PT Katingan Ria thermal coal project
- Indonesian partners continue to add value and support cooperative coal business expansion in the region
- Focus shifting to financing and development, following imminent release of the feasibility study, and advances in permitting
The announcement further said, importantly, Realm and its Indonesian partners have committed to progress the project cooperatively with their current shareholdings remaining at 51% and 49% respectively and to be governed by the existing shareholders agreement which enshrines Realm as the manager of the Project.
In addition, Realm and PT SMAA have reaffirmed their intention to cooperatively build a larger coal business in the Katingan and adjacent regencies, by formalizing a “Cooperation Agreement”.
Commenting on the development, Chairman Richard Rossiter said, “We are pleased that, together with our partners, we have reaffirmed our agreement to cooperatively expand our coal business in the region. The focus will now shift to financing and development and completion of the permitting phase, following imminent release of the feasibility study results”.
About: PT Katingan Ria thermal coal project
The Katingan Ria coal project is located near the town of Tumbang Samba in Central Kalimantan, Indonesia. The Company aims to reach 2.5 mtpa after a 3 year ramp-up from early 2014. The planned operation consists of an open cut haulback mining method using hydraulic loaders and rear dump trucks to dump both inpit and expit. Coal is transported from the pit by 60 t road trucks approximately 45 km to a stockpiling and barge loading facility on the Katingan River. Barges will then transport coal 435 km from the stockpile area to the river mouth for transhipment into coal ships for delivery to market.
Coal is planned to be sold “unwashed”, meaning there is no metallurgical treatment required to achieve a saleable product. The coal is expected to be predominately sold as a low ash and low sulphur coal ideally suited for modern Indian and Chinese power generation.
About Realm
Realm’s strategy is to create shareholder value through exploration and development of bulk commodity projects, primarily in coal. In addition, the Company has platinum group metals, advanced exploration projects and an aluminium dross treatment plant in South Africa.
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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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