TerraCom is in the final stages of negotiations to acquire a shuttered coal mining operation in Queensland, according to a recent announcement to the Australian Stock Exchange, as part of its strategy to diversify its operations.
The company currently owns the Baruun Noyon Uul (BNU) metallurgical coal mine in the South Gobi region of Mongolia, as well as developing two projects in Queensland.
“In order to support the growth and expansion of the company and to de-risk from single mine and single country operator, TerraCom continues to evaluate cash generative assets for potential acquisition,” the company said.
In addition to the Queensland mine, the company is also continuing due diligence on a metallurgical coal mining operation in Indonesia with the capability of delivering 0.5 million tpy of hard coking coal.
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/coal/23062016/terracom-closes-in-on-queensland-purchase-2016-1019/