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Equus acquires coal assets in Chile

23rd May 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Explorer Equus Mining has moved to acquire strategic coal assets in Chile.

The company told shareholders that it had secured the rights to acquire Chilean junior Andean Coal, which holds a package of exploration licences in Chile’s largest coal field.

Equus would earn an initial 51% interest in the company by spending A$200 000, with the option of purchasing the remaining interest in the company for a further A$200 000, payable in shares.

Equus noted that Andean’s three project areas, covering 170 km2, had the potential to host shallow dipping coal deposits suitable for bulk opencut mining. Field activities in the area were about to start.

Edited by Creamer Media Reporter

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