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88娱乐城
In a statement released to the market yesterday, White Energy revealed PT Bayan Resources said the upgrade might 鈥渘o longer deliver acceptable economic returns鈥�
PT Bayan Resources has a 49% stake in the project, while White Energy holds the majority 51% stake with Indonesian subsidiary PT Kaltim Supacoal.
Current modification works at the plant includes installation of a more sophisticated product handling and stockpiling system.
An plant expansion in June upgraded a drying column, allowing the pre-briquetting moisture content of coal to be reduced from approximately 35% to 6-7% on a consistent basis.
White Energy managing director Brian Flannery said he remained committed to the project despite the unpredicted high costs associated with the project鈥檚 various upgrades and modifications.
鈥淲e are committed to the Indonesian market, which has large scale deposits of sub-bituminous coal, well suited to our briquetting technology,鈥� Flannery said.
KSC is currently in the progress of completing a number of key engineering modifications to enable the Tabang plant to run at its design capacity of 1 million tonnes per annum.
Flannery said the expense of the project had been a setback for the company.
The company will now determine the appropriate steps to be undertaken at the Tabang plant no later than December 31.
