JOHANNESBURG (miningweekly.com) – ASX-listed Atrum Coal has secured the supply of up to 100 000 t of anthracite though an option agreement with Atlantic Carbon Group (ACG) to its target customers in Europe, South America and Asia.
The two parties will share profits generated by the sale of anthracite on a 50:50 basis, with the profits being determined after each of Atrum and ACG recover all their respective costs on production and transportation of the clean anthracite.
The agreement will also allow Atrum to start selling anthracite into export markets prior to the development of its flagship Groundhog North mining complex, in British Columbia, Canada.
Atrum CEO Bob Bell noted in a statement on Thursday that this was a significant step in the development. “Having product to sell into undersupplied markets will assist us to secure our positions in the anthracite supply market while we develop Groundhog North and potentially expand our supply option.”
Subject to specified pricing hurdles, ACG will make up to 100 000 t of anthracite available at its site in Pennsylvania, in the US.
Edited by: Mariaan Webb
Creamer Media Senior Deputy Editor Online
EMAIL THIS ARTICLE SAVE THIS ARTICLE
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
