The world's largest undeveloped ultra-high grade anthracite deposit in British Columbia, Canada
US Sales Joint Venture
Atrum has agreed to form a Joint Venture with Atlantic Carbon Group to manage export sales from its anthracite mines in Pennsylvania, USA
In-country team led by Executive Chairman Bob Bell
Atrum Corporate: Key Achievements
- Agreement to Form US Sales Joint Venture - for export sales of 250,000tpa ultra-high grade anthracite with Atlantic Carbon Group PLC. JV sales expected to provide significant positive cashflow in 2017, to be used developing Groundhog.
- Kuro Coal Assets - identified additional north American hard coking coal opportunities for Kuro Coal and currently considering a public listing of Kuro Coal as originally planned.
- Kuro Coal Board - revised Board for Kuro Coal in preparation for a possible public listing, along with commercial and taxation advice of an in-specie distribution as originally planned.
- Executive Chairman - Canadian coal industry veteran Bob Bell elected to lead Atrum Coal, based in Vancouver, Canada.
- Renewed Atrum Board - identified high profile potential new board members and initiated process of succession planning.
- VP - External Relations - highly respected Canadian public coal advocate and ex-Deputy Minister in Government, Ann Marie Hann joined Atrum.
- BC Anthracite litigation - secured life of asset royalty over all BC Anthracite tenements, and transfer of five additional tenements from BC Anthracite to Atrum Coal.
- Anglo Pacific - completed repayment of the Anglo-Pacific promissory note.
- Corporate Overheads - consolidation of Australian and Canadian offices.
Groundhog is the world's largest undeveloped ultra-high grade anthracite deposit.
Atrum has received permits enabling construction, mining and distribution of samples to potential customers.
The agreement to form US Sales Joint Venture between Atrum and Atlantic Carbon provides a low-risk entry to anthracite sales. Expected revenues from the sales will be used to support the development of Groundhog.
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About Atrum Coal Limited
The Company has a substantial coal position in British Columbia which, as a region boasts:
- Abundance of high quality PCI, coking and anthracite coals
- Well developed rail and port infrastructure with excess capacity
- Access to deep sea ports
- Competitive shipping distance to Asia
- Positive government stance on mining
The Company is building a quality portfolio of metallurgical coal assets suited to the Asian export market and the Board of Directors have a strong track record in identifying and developing world class coal assets in Australia and abroad.
Atrum Coal Limited