Posts Tagged ‘intra energy’

Intra Energy starts coal mine development in Malawi

Posted on 27 Jan 2013 at 9:19pm

(MENAFN – ProactiveInvestors – Australia) *Intra Energy (ASX:IEC) has progressed its Eastern African regional expansion strategy by acquiring coal licences including that of an operational mine in Malawi.

The concessions include the operating Nkhachira Coal Mine within Mining Licence ML0143/2005 and three Exclusive Prospecting Licences (EPL), located in the north of Malawi, west of the town of Karonga.

Intra Energy has established a joint venture company Malcoal Mining in which it has 90% interest and CMI has 10% free carried interest.

The three EPLs were granted to CMI which were acquired by Intra Energy for 800,000 and a loan…

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