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Thursday, 09 May 13
KILLARA AUSTRALIA ACQUIRES 80% INTEREST IN BORNEO EMAS HITAM
COALspot.com - Killara Resources has announced that, the company has signed a binding MoU to acquire an 80% equity interest in PT. Borneo Emas Hitam (BEH). PT Borneo Emas Hitam (BEH) is a coal producer in East Kalimantan in Indonesia and currently sells its entire production to an international buyer.
According to company’s website, Killara Resources (ASX Code: KRA) is a minerals explorer specializing in energy and other resources in Indonesia, with an emphasis on sustainable mining practices when and if projects are developed in conjunction with close ongoing community engagement.
“The transaction moves Killara from an explore to a producer and represents an exciting corporate transition for the company, an announcement to ASX said.
Killara will pay, pending due diligence, a minimum of US$ 2.2 million for an 80% equity interest in BEH and its wholly-owned mining concession, which is located in East Kalimantan, Indonesia, the note from company said. Should an independent technical assessment of the concession by Killara establish a mineable coal deposit of greater than 733,333 tonnes, the company will pay $3.00 for each additional tonne.
At the same time, the acquisition enables the company to become cash flow positive and be operating its own mining activities within an estimated three months, the announcement from company said.
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Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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