Bidders fail to impress Carbon Energy
PERTH (miningweekly.com) – Underground coal gasification firm Carbon Energy on Thursday told shareholders that it had, to date, not been able to secure a viable offer for its two-billion-tonne thermal coal assets in the Surat basin.
In August, Carbon Energy appointed PFC Capital Group as a marketing agent to monetise the Surat basin assets.
In the first phase of the asset divestment, Carbon Energy expected to receive expressions of interest and indicative offers from interested parties, but the ASX-listed company said on Thursday that despite holding a series of discussions with interested parties, the indicative offers tabled to date have not reflected the company’s view of the long-term value of the assets.
The company told shareholders that it would retain ownership of the assets until a suitable offer has been made. PCF Capital has been retained to continue its marketing efforts.
Previous concept studies into the thermal coal assets have revealed that at least three longwall mining areas, each with the potential to mine some five-million tonnes a year of thermal coal, could be established.
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