From strategically expanding its coal presence in key South East Asian target markets to progressing its world class lithium project, 2013 is a year of clear focus and confidence for Altura.
Altura is now entering an exciting new phase as the company’s projects move toward mine development and coal production.
The company is well placed to take advantage of opportunities created by the global economic climate – and has been making substantial and methodical gains towards its 2015 strategy to become a significant global coal producer in South East Asia’s growth markets. The result of this strategy will be the creation of independently sustainable businesses that will deliver profitability, liquidity and growth to the group and its shareholders.
Altura is a multi-faceted international mining company with a diversified portfolio encompassing a significant coal mine in Indonesia, a world-class lithium project in Western Australia and a DSO iron ore in the Pilbara.
The Tabalong coal project in South Kalimantan is pending final approval, with coal mine construction anticipated in early 2013 – and the first coal to be mined and sold during the 2013. Initially with 500,000 tonnes per annum, Tabalong is Altura’s first major South East Asian coal asset in a growing portfolio.
The Pilgangoora lithium project, located in the Pilbara region of Western Australia, has been significantly increased in size, and positive project development scoping studies are progressing. The recent acquisition of 15% of Lithium Corporation (OTCBB: LTUM) underlines Altura’s strategic focus on lithium.
The Mt Webber iron ore project (joint venture with Atlas Iron Limited – ASX: AGO) in the Pilbara region of Western Australia is planned to commence production in late 2013 at an initial production rate of 3 Mtpa.
With prudent financial management, an experienced management team and solid cash flow from its services arm, Altura is securely placed to progress to production in 2013.