TerraCom Limited (ASX:TER) has announced it received conditions for indicative approval for the Blair Athol Mine.
TerraCom, formerly Guildford Coal, is a miner with development projects in Mongolia and Queensland.
The company was advised by the Queensland Government that it was grated indicative approval, subject to conditions, to transfer the mining lease for the Blair Athol Coal Mine in central Queensland.
If approval is given, TerraCom’s producing BNU HCC Mine and Blair Athol will position TerraCom to capitalise from strong coking and thermal coal markets.
TerraCom Limited (ASX: TER) reported a net loss of $51.79 million 30 June 2016.