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TerraCom considers opportunities to buy

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World Coal,

TerraCom continues to evaluate opportunities to buy coal mines in Queensland and Indonesia in order to boost its cash flow and diversify its portfolio. The company currently owns one non-producing mine, the Baruun Noyon Uul metallurgical coal mine in South Gobi, Mongolia.

According to a recent ASX announcement, the company is currently considering the purchase of a mature mining operation currently in care and maintenance in Queensland. It is also nearing completion of its desktop due diligence on a hard coking coal operation in Indonesia.

The Indonesian mine has a production license with a 12 yr life and is located close to transportation and infrastructure links connecting it to the global seaborne coal market. It has a potential capacity of 0.5 million tpy.

In addition, the company is also developing two thermal coal projects in Queensland: the Northern Galilee project and the Springsure project.

TerraCom is currently listed on the ASX but is reviewing a potential listing – dual or sole – on an Asian stock exchange following a strategic review of the company completed last year.

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