Shares for junior mining company KAL Energy Inc. (OTCBB: KALG) edged up a slight 3.45 percent this morning after the company released information that it was recently featured in Equities Magazine.According to the release, the article highlighted both the “continued rapid structural growth in the global market” for the coal mined by KAL Energy as well as the company’s recent success in its resource definition program. In addition, the article describes the successes KAL Energy has seen in Indonesia, where most of KAL Energy’s concessions are based, and how the company is on its way to becoming a major coal producer.
For those not in the know, Indonesia is quickly becoming a leading coal producer in the world, having already surpassed Australia as the leading exporter of thermal coal. Most of this can be based on Indonesia’s proximity to growing urban and industrial areas, particularly China and India.
“At the moment, [China and India] import 55 million tons [of coal] between the two of them, but this is expected to reach 90 million tons by 2012 as more power stations are built to fulfill the rising needs of those populations,” KAL Energy CEO Cameron Reynolds said in the article.
That’s not the only good news the company’s received. In addition to being showcased in Equities Magazine, the company also recently completed a $2 million Phase I Exploration Program, where KAL Energy finished 5,600 meters of extensive drilling, over 230 holes, and pulled up more than 200 million tons of coal as well as a “primary thick seam expressing at surface through large areas of the block.”
KAL Energy is a junior mining company focused on exploring and developing the Thermal Coal resources of Kalimantan, Indonesia in a socially and environmentally responsible manner, as guided by the Equator principles.