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JOGMEC launched coal JV exploration.～JOGMEC signed a joint exploration agreement in Australia.～
JOGMEC launched coal JV exploration.
～JOGMEC signed a joint exploration agreement in Australia.～
PDF version of this page (104 KB)December 19, 2013
Japan Oil, Gas and Metals National Corporation (JOGMEC, President:Hirobumi Kawano) is pleased to announce that it entered into a new agreement to jointly explore coal in the Clifford Project Area as of December 12th, 2013, with Stanmore Coal Limited, an Australian coal exploration and development company.
JOGMEC has been conducting metal JV exploration abroad since 2003.However, this is the first JV for JOGMEC in coal exploration since JOGMEC commenced coal JV exploration scheme this year.
JOGMEC has been conducting metal JV exploration abroad since 2003.However, this is the first JV for JOGMEC in coal exploration since JOGMEC commenced coal JV exploration scheme this year.
The Clifford Project Area (Clifford) is situated in the northwest part of the Surat Basin, which is highly prospective for thermal coal resources, in the southeast of Queensland. The new discovery of economical thermal coal deposits with high volatile matter and high quality is expected through a new JV exploration.
In the recent energy situation in Japan, coal fired power generation has been anticipated as one of the main energy sources in Japan. If the Clifford Project JV, leads to future coal mine development, it will contribute to a stable supply of high quality thermal coal to Japan.
In the recent energy situation in Japan, coal fired power generation has been anticipated as one of the main energy sources in Japan. If the Clifford Project JV, leads to future coal mine development, it will contribute to a stable supply of high quality thermal coal to Japan.
Outline of the Project
Exploration area
Clifford consists of two exploration tenements （about 1,100km2), in which some coal seams have been already identified. In the south of Clifford area, Glencore-Xstrata and its joint venture partners are conducting coal exploration at the Wandoan project. In the further southeast of the Surat Basin, there are a number of operating coal mines such as Cameby Downs,Kogan Creek and Wilkie Creek.
Agreement
JOGMEC will have a right to earn 30.67% participating joint venture interest in the project by completing the payment of AU$3.45 Million as an exploration expenditure over three years. JOGMEC may elect to earn a further 9.33% (40% in total) participating joint venture interest by adding AU$1.05 Million over the subsequent 12 months. JOGMEC can transfer its position in the joint exploration agreement including its acquired interest to the Japanese company during the term of the agreement.
Exploration
Stanmore Coal and other previous tenement owners completed about 150 drillholes to date, by which some coal seams with a maximum thickness of about 10m have been identified at the prospective sites.Although Stanmore already selected nine prospective exploration zones, further study and evaluation is necessary to evaluate distribution of promising coal seams because of the large tenement area.
Stanmore Coal Limited
It is a coal exploration and development company listed on the ASX (Australian Stock Exchange) and headquartered in Brisbane, Australia. It owns thirteen coal exploration projects in Queensland. It is also conducting advanced stage exploration and development activities at its other projects such as Belview (coking coal) and The Range (thermal coal). All the current properties in the Clifford project are possessed by Stanmore Coal Limited through Stanmore Surat Coal Pty Limited, a wholly owned subsidiary of Stanmore Coal Limited.
Location of Clifford project.
The inquiry about this page.
Coal Exploration Division, Development Exploration DepartmentArai and Muramoto FAX:+81-3-6758-8086
Public Relations Division, Administration DepartmentNishikawa FAX:+81-3-6758-8008
