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Lynch was tragically killed on Australia Day when the plane he was flying plunged into the Swan River in Perth.
Cokal director Patrick Hanna said it would be building up a strong export metallurgical coal business over the coming year.
“And the best part is that we are able to do this with minimal capital to kick start the business at a time when the global outlook for coal is indicating strong demand in the very near future, particularly in the Asian region,” he said.
Cokal is establishing a small scale coal mining operation, which will produce a high calorific-value, high-volatility PCI coal.
Product coal will be sold to local coal companies for blending with their lower quality coal. The location of the mine is in close proximity to the Barito River requiring a very short haul to the stockpile area.
Cokal said it had acquired the relevant regulatory approvals including the mining, environmental and forestry approvals from the various Indonesian government departments.
The company expects to build a stockpile of coal beside the Barito River in July or August and start barging to local coal producers downstream.
“Cokal’s on-site technical team has prepared comprehensive mine-plans, mining schedules and financial budgets, in accordance with internationally accepted mining standards,” the company said.
