SouthGobi Energy Resources Receives Approval for the Start of Surface Coal Mining at the Mamahak Coal Project in East Kalimantan
07 Gennaio 2009 - 2:30PM
Marketwired
Peter Meredith, Chief Executive Officer of SouthGobi Energy
Resources Ltd. (TSX VENTURE: SGQ), and Gene Wusaty, Chief Operating
Officer, announced today that a Location Permit (ljen Lokasi) has
been issued by the local Government, which allows the company to
commence surface coal mining of the SW deposit on the MCM
concession at the Mamahak Coal Project in East Kalimantan,
Indonesia.
"The timing of the approval allows for SouthGobi to prepare for
the start of coal mining operations in the first quarter 2009,"
said Mr. Wusaty. "With results from our recent bulk sample
confirming high-fluidity metallurgical coking coal, we plan to
introduce this coal to selected Asian Steel Mills for testing."
Other project developments include:
- Construction activity at the Mamahak Project site is focused
on the completion of a 30 kilometre haul road from the SW deposit
to the barge port on the Mahakam River. Construction is in progress
on the installation of a river barge loading terminal capable of
loading 600 tonnes per hour which will be located at Long Habung on
the Mahakam River.
- SMG Consultants is drafting a report defining coal resources
according to National Instrument 43-101 standards incorporating
technical information from 218 drill holes completed at
Mamahak.
- A new bulk sample of coal from the E Block is currently being
taken. Further drilling and sampling at both the SW and E Blocks to
extend resources along the strike of both deposits also is
progressing.
- Drill crews have been mobilized to the BKL concession area
(Northwest of the initial mining area) to commence drilling of
targets identified by a new reconnaissance mapping report.
SouthGobi recently increased its working interest in the Mamahak
Joint Venture from 56% to 85% and has provisions in the joint
venture agreement to increase its working interest to 100%. The
Mamahak Coal Project is ideally located to supply the Japanese,
Korean, Indian and Chinese coastal markets and complements
SouthGobi's established operating coal mine, Ovoot Tolgoi in
southern Mongolia.
Gene Wusaty, SouthGobi Energy's Chief Operating Officer, a
qualified person as defined by National Instrument 43-101,
supervised the preparation of the technical information in this
release.
About SouthGobi Energy Resources
SouthGobi Energy Resources is focused on exploration and
development of its Permian-age metallurgical and thermal coal
deposits in Mongolia's South Gobi Region and its Eocene-age
metallurgical and thermal coal deposits in East Kalimantan,
Indonesia. The company's flag-ship coal mine, Ovoot Tolgoi, is in
production and selling coal to customers in China. The company
plans to supply a wide range of coal products and electricity to
markets in Asia. The company also is investigating the
implementation of clean-coal technologies in the development of
coal power-generating capacity to benefit all of its
stakeholders.
Forward-Looking Statements: This document includes
forward-looking statements. Forward-looking statements include, but
are not limited to, the company's ability to start mining
operations in Indonesia during the first quarter of 2009,
introducing the mined coal to selected Asian steel mills for
testing, the company's future ability to supply coal products and
electricity to markets in Asia, and other statements that are not
historical facts. When used in this document, the words such as
"could", "plan", "estimate", "expect", "intend", "may",
"potential", "should", and similar expressions are forward-looking
statements. Although SouthGobi Energy Resources believe that the
expectations reflected in these forward-looking statements are
reasonable, such statements involve risks and uncertainties and no
assurance can be given that actual results will be consistent with
these forward-looking statements. Important factors that could
cause actual results to differ from these forward-looking
statements are disclosed under the heading "Risk Factors" in
SouthGobi Energy's Management's Discussion and Analysis of
Financial Condition and Results of Operations for the nine months
ended September 30, 2008, and its Annual Information Form dated
March 28, 2008 which is available at www.sedar.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: SouthGobi Energy Resources Ltd. Steven Feldman
Investors (604) 681-6799 SouthGobi Energy Resources Ltd. Bob
Williamson Media (604) 681-6799 Website: www.southgobi.com
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