Intra increases sales capacity

Company News

by Lee Brooks

Intra Energy Corporation (ASX:IEC) says its Tancoal mine in Tanzania has achieved record sales of nearly 39,000 tonnes of coal for December.

Intra says it expects production to increase rapidly in January with the arrival of additional trucking and excavation equipment it ordered back in November.

Tancoal is currently meeting sales orders however production needs to be raised to 60,000 tonnes per month to cater for demand and allow surplus to stockpile. Therefore the company has invested in more excavators, dump trucks and another 40 haulage trucks to get coal from the mine site to the sales stock pile.

The miner has also applied to increase its working capital facility by US$1 million.

Intra Energy made a net loss of $8.2 million dollars at 30 June 2016.

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