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Sino-Aus makes Arckaringa JV payments

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World Coal,

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.

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