Carbon Energy signs UCG deal in China
PERTH (miningweekly.com) – ASX-listed Carbon Energy has signed a memorandum of understanding (MoU) and definitive technology services agreement to become the exclusive underground coal gasification (UCG) technology partner for a government-approved project in China.
Under the MoU, Carbon Energy would set up a UCG demonstration plant on the Haoqin coalfield, in inner Mongolia, which belongs to the Zhengzhou Coal Industry Group (Zhengmei Group).
The proposed demonstration and commercial-scale project would be fully funded by the Zhengmei Group and would make use of Carbon Energy’s UCG technology.
The coalfield covers some 184 km2 and has a 3.1-billion ton coal resource.
“The project is a very exciting development for the company and continues to build on our strategic direction to be the UCG technology of choice and to licence our UCG technology worldwide,” said Carbon Energy’s acting CEO Morne Engelbrecht.
“We expect the project to not only provide solid cash flows from licensing our keyseam UCG technology and providing ongoing technology services, but, most importantly, to establish our technology in China,” he said.
Carbon Energy would earn a A$10-million technology licence fee payable on the success of the demonstration project and technology services fees for the duration of the project.
Ongoing royalties would also be paid once revenue is generated from the projects.
The company would earn a further A$100 000 in technology services fees for the initial site characterization and UCG suitability study over the next few months.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...
VISIT SHOWROOM
ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
