TerraCom Limited (ASX:TER) has announced its subsidiary, Orion Mining Pty Ltd, has received the go-ahead from the Queensland Government that it has satisfied the conditions to transfer the Blair Athol title.
The company is planning to recommence mining in June, with over 600 direct and indirect jobs to be added to the local and regional Queensland community.
The Mongolian and Queensland miner says up to $85 million in taxes and royalties will flow from the reopened mine operation.
TerraCom Limited (ASX:TER) says over the next seven years, it expects to export $1.2 billion in product which will deliver enormous value to shareholders.
Shares in TerraCom Limited (TerraCom) shares are 6.45% higher 3.3 cents.