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ALTURA MINING LTD

ASX: AJM

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Altura Mining Limited has been listed on the ASX since 8th January 2001

The Company has exploration and development activities for Coal, Uranium, Lithium, Tantalum, Base Metals and Gold with a mining services arm providing drilling, geophysical and project development services.

Key projects

The Pilgangoora Lithium project in Western Australia continues with the successful completion of the Scoping Study, demonstrating a favourable Net Present Value. In addition, the acquisition of 15% of Lithium Corporation (OTCBB: LTUM) underlines Altura’s strategic lithium focus.

Highlights of the Lithium project:

  • Project has been significantly increased in size with a JORC Mineral Resource estimate of 25.2 Mt @ 1.23% Li for 310,342 LiO tonnes20

  • Hard rock spodumene deposit with shallow, thick and high grade lithium intercepts

  • The successful completion of Project Scoping Study with a favourable NPV of A$93.2M

  • 100% Altura-owned

  • Uses of lithium applications are still being discovered, creating an even greater opportunity to change the market.

The Delta Coal Mine in East Kalimantan produces at a current rate of 1.75 Mtpa. Altura owns a one-third stake in this cash flow positive business. Production is set to increase to 2 Mtpa with no additional capital required. Delta delivers an integrated operation, with coal supply chain from mine to barge and includes simple open pit mining with coal crushing on site.

The Tabalong Coal project in South Kalimantan gained forestry approval (30th September 2014), with coal mine construction anticipated in 2015-16. All other approvals have been granted. The Tabalong project includes five IUPs covering 17,000 hectares and has confirmed high calorie thermal coal. Initial production is targeted at 500,000 moving quickly to 1.5 Mtpa.

Altura’s Exploration Services division has created a sustainable and profitable cash flow, allowing the Company to develop and focus on its key coal, iron ore and lithium projects.Today, this mining services arm is one of the key suppliers of exploration services in Indonesia and is a prominent and profitable drilling and wireline operation.

Altura also draws on the strength of its Management Team and Board of Directors. Altura’s management team members are some of the most sought-after leaders in Australian mining, with vast years of experience to draw upon.

Mine For

iron ore, garnet, coal, uranium, lithium, tantalum, gold, copper, lead, silver, zinc, ilmenite, rutile, zircon

Location of operation(s)

Indonesia, Western Australia, Northern Territory

Address

Bldg 8, 22 Magnolia Dr
BROOKWATER, QLD, Australia

Phone

(61 7) 3814 6900

Email

Website


Last Updated

27/04/2015

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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