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.
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/coal/17052016/terracom-continues-to-consider-purchase-options-2016-794/