SYDNEY (Yosefardi) – Western Mining Network (WMN) Ltd, an ASX-listed company, has entered into a memorandum of understanding to develop a thermal coal tenement in South Kalimantan, which is 100% owned by CV Rahma.
CV Rahma controls a coal concession over 199 hectares in Kotabaru, South Kalimantan province, whose term end February 10, 2015.
CV Rahma, according to WMN, has previously conducted trial production, but stopped the program and decided to pursue a more detail exploration program with WMN.
“Should the company and Rahma be satisfied with the results from the detailed exploration, both WMN and Rahma shall execute the joint production and coal sale agreement,” said WMN yesterday.