JOHANNESBURG (miningweekly.com) – Mongolia-focused Guildford Coal is considering a potential listing on the Singapore stock exchange and plans to relocate its corporate office to the South East Asian island country.

The ASX-listed company announced the potential listing and relocation decision on Monday, when it detailed the outcomes of a strategic review that was started December last year.

Guildford stated that a potential listing on the Singapore exchange – either dual or sole – would take the company closer to its operational activities and its majority shareholder base. Asian shareholders represent about half of the coal firm’s investor base.

The corporate office relocation from Spring Hill, Queensland, to Singapore was also aimed at bringing the company closer to the majority of shareholders, financiers, existing operations and customers. It would maintain streamlined regional offices in Queensland and Mongolia to manage its projects.

Guildford reported that it had advanced discussions on restructuring its finance to reduce its debt burden and that it would implement a zero-based cost-reduction programme aimed at achieving between A$3-million and A$5-million in yearly savings.

The group further confirmed that it would look for an equity joint venture (JV) partner for its Australian assets, comprising its two priority Queensland projects –Northern Galilee and Springsure. Discussions were reportedly under way with potential JV and/or ofttake partners to provide self-sustaining funding to develop these projects into operating mines.

The company stated that both projects had large proven resources with access to existing coal logistics infrastructure that could connect them to the market.

In Mongolia, Guildford would focus on achieving the planned one-million-tonne output for 2015 from the Baruun Noyon Uul (BNU) mine, which recently started shipments to China.

The group would expand its production profile from the South Gobi project through increasing output from BNU and by opening additional satellite pits to achieve two-million tonnes in 2016 and three-million tonnes in 2017. It was targeting sustainable production of five-million tonnes by 2020.

Organic and acquisitive growth options were also under consideration.