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Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER


Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas Abadi in relation to PIA’s subbituminous coal deposit in Sumatra.

The Benkulu Province, where the deposit is located, is one of the most significant coal producing regions in Indonesia.

Under the Agreement, BRD has the exclusive right for a period of 5 months to conduct further legal and geological inquiries and to determine whether it will participate in the development of the deposit under a joint venture or similar arrangement with PIA.

The licence has a total area of 7,687 hectares of which preliminary investigation and at depth testing has taken place on 1,000 hectares, with early indications of an extensive resource.

The market for subbituminous coal is largely directed towards local power utilities with the Indonesian Government being a primary market for producers.

This Agreement forms the basis of BRD’s continuous expansion into new opportunities overseas, with both Indonesia and the Philippines being of primary interest.
Source: Proactive Investors



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Recent News

Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...


Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...


Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...


Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands. The Viet Nam Coal ...


Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...


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