Sino-Aus Energy Group has paid the majority of its first tranche financial contribution to its joint venture with Altona Energy, Arckaringa Coal Chemical.
Payment of AUS$4 million has been made with the balance of AUS$1.4 million expected by the end of April, following approval of the transfer by the Chinese government.
The Arckaringa joint venture aims to develop an integrated coal mining and coal-to-liquids plant to produce syngas products for the Australian market.
The project in South Australia has a JORC compliant coal reserve of 1.3 billion t and could produce feedstock for the production of methanol.
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/cbm/12042016/sino-aus-makes-arckaringa-jv-payment-altona-energy-2016-601/