The move will allow the company to deliver first shipment of coking coal by June 2014.
South East Asia Resources has attained IUP Production Licensing for the coal project, and has required infrastructure, including camp, mining equipment, haul road and processing crush facilities.
The company agreed to takeover the mining contractor, mining equipment and workforce and undertake all mining direct. It also finalized domestic off-take arrangements with steel mills to supply coking coal.
Additionally, the resource exploration firm entered into preliminary agreements for the adjoining coal concession, which will allow continued production on completion of mining from PT PAR.
