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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	JAT
Latest Price:	0.10 (-12.73% )
52-week High:	0.20
52-week Low:	0.06
Market Cap:	6.06M

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Jatenergy

Jatenergy (ASX: JAT) is of the view that renewable energy will become increasingly mainstream over the next decade, but that conventional energy sources will continue to play an important role. Jatenergy's mission is to be an important player in both coal and the production of renewable biofuels.

Jatenergy secures production licence for Jongkang in Indonesia

Monday, November 21, 2011 by Angela Kean

Jatenergy (ASX: JAT) is moving closer to production on a second coal mine after the Indonesian Government granted a production licence for its Jongkang coal joint venture in East Kalimantan.

The award of the licence comes just one week after the company began mining first coal from the neighbouring Jongkang II mine under a joint venture partnership.

Both projects are sited 5 kilometres from a stockpile, crushing and conveyor loading facility on the Mahakam River, about 25 kilometres from the coal shipping hub of Samarinda.

Jatenergy can now begin coal mining operations from the Jongkang project. The company is in the final stages of a drilling program designed to establish a JORC Resource for the first planned mining pit on the tenement. Additional pits are also being planned.

Given the proximity to Jongkang II, Jongkang is expected to come on stream during the first quarter of 2012.

Jatenergy expects its other east Kalimantan project, Atan Bara, to be brought into production soon after. Jongkang and Atan Bara are both considered to be “short to production”.

The company announced last week it had executed the final agreements covering Jongkang as well as an operating mine – Jongkang II – with the common local partner to both projects.

Under the final agreements, Jatenergy will cover the working capital costs of the projects, expected to be a maximum of US$2 million, in return for 30% of the mining margin and the ability to market both projects’ entire output.

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