The company acquired a direct interest in PT Delta Ultima Coal, owner and operator of the PT Binamitra Sumberarta mine, for $US25 million, payable in stages.
This development sees Altura make the move from explorer to producer.
The Binamitra Sumberarta mine produces a highly marketable medium energy thermal coal product with a calorific value of 5500-5700 kilocalories per kilogram on an air-dried basis.
The mine is producing at a rate of 1.5 million tons per annum, with plans to lift production to 2Mtpa by 2015.
Situated on 1260 hectares, it hosts a JORC resource of approximately 57Mt and is well serviced by existing regional infrastructure.
Delta Coal owns and operates all processing plant, loading equipment and load-out facilities from pit to port.
The ability to control the process from the run of mine delivery point to loading of barges for cargoes allows for maximum flexibility for the product coal supply chain.
There will be no changes to the current management of the mine but Altura will assume responsibility for technical management of the mining operations.
