TerraCom one step closer to Blair Athol Mine purchase

Company News

by Jessica Amir

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.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.