In the company's annual report, he said the mine had achieved a number of key milestones over the past 12 months and was about to ramp up production from the mine on the Indonesian island of Kalimantan.

"While initial production and the consequent logistical movements have been conservatively established to begin with, we are confident of the ability to expand and grow production not only from BBM but also from the very prospective TBAR project adjacent to BBM," Martino said. 

He said Cokal engaged with a major partner in Indonesia in Aahana Mineral Resources and International Commodity Trade, which had brought not only funding to the BBM project but also the ability to recruit an experienced team that had the capability to deliver the project to production. 

"Shareholders will be aware that the premium quality of the coal in the BBM project has never been in doubt," Martino said. 

"The issue has always been developing the logistics chain to evacuate the coal to market.

"The financing and execution of the logistics infrastructure have been the company's main challenge.:"

Martino said those milestones had been achieved.