A significant agreement between Pan Asia Corporation Ltd and underground coal group KOPEX, has established a world-class partnership that paves the way for accelerated development of the Company’s flagship TCM coal project. The agreement incorporates funding support from KOPEX for the next phase of infill drilling, as well as the bankable feasibility study, in return for pre emptive rights to participate in the project. The Phase 3 drilling program of ~ 6,500 metres started on 6 June 2011.

Expansion plan of underground coal mine at Indominco Mandiri was commenced but has recently been put on hold by (IMM) due to a corporate decision. Hence, although Banpu/ITM have expressed their commitment to future underground operations in Indonesia. The IMM underground project has already had a significant positive impact to mechanized underground coal mining knowledge in Indonesia. It has been demonstrated that the prevailing geological conditions in Indonesia (Kalimantan) can be safely handled using correct techniques and professional approach as adopted by KMC. This alone is seen as a major step forward for underground coal mining in Indonesia.

PT Bayan Resources Tbk appoints PT Kopex Mining Contractors to supervise and provide recommendations to the exploration program for potential underground resources at WBM project and ultimately, to prepare a JORC compliant reserve and resource report and Feasibility Study.This new program is expected to expand on the previous findings initiated in 2007.