Cokal Limited (AU:CKA) has released an update.
Cokal Limited has struck a profitable deal with PT Cipta Bersama Indonesia (CBI) to initiate an underground coal mining operation at BBM Pit 1, aiming to produce a PCI coal product in 18 months with no capital investment from Cokal. The agreement includes a revenue-sharing model where Cokal will receive 40% of sales, while CBI will cover all development and operating costs. Additionally, CBI has committed to developing coal processing facilities at BBM, further enhancing the project’s potential.
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