Churchill Mining Takes Direct Ownership In Area Of East Kutai

18th Jun 2010 08:15

LONDON (Dow Jones)--U.K.-based coal miner Churchill Mining PLC (CHL.LN) Friday said it has taken direct ownership in the Ridlatama Tambang license area of the East Kutai Coal Project, in accordance with a new Indonesian mining law. Managing Director Paul Mazak said direct ownership gives Churchill more flexibility over its East Kutai Coal Project and will help to speed up its development program. The Ridlatama Tambang license area is the larger of the two licenses that make up the East Kutai coal project, with a resource of over 2.5 billion metric tons--93% of the total resource of the East Kutai coal project. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; [email protected] (END) Dow Jones Newswires June 18, 2010 03:15 ET (07:15 GMT)