Thermal Coal, NigeriaNigeria has a stable resources export economy and adequate infrastructure to support mining development projects. There is a sizable international market for seaborne trade in coal, exceeding 300 million tonnes per annum. The major exporters of coal are Australia, South Africa, Indonesia and the United States with Nigeria having the potential to become a major player in the international traded coal market to Europe due to its close proximity. A major emphasis on power generation is likely to also create a strong internal demand for coal.The ProjectAstra has identified two thermal coal sites in the Kogi State of Nigeria, Africa. A Joint Venture Agreement has been signed through Astra’s subsidiary Astra Nigeria Pty Ltd which gives Astra supermajority ownership of Barjalex Nig Ltd, an African company that owns a coal exploration license.The two sites sit within the Ogboyoga coal field of the Kogi Coal District covering the Odelle, Manejo and Ichalla villages of the Ankpa Local Government Area of Kogi State, North Central Nigeria, and cover a combined area of 10.4 square kilometres. A further extension located in the Ogboyoga coal field, covering an area of 16.6 square kilometres, has been identified, for which Astra is in the process of purchasing an exploration license. Prospect Area in the Kogi State of Nigeria  Astra has acquired notice of commencements for an additional five thermal coal properties, with these acquisitions to be added to the Company’s current coal concessions. Astra is undertaking negotiations for a Joint Venture and acquisition agreement with Shebuel International Ltd for the identified properties, all of which fall within the Mamu formation of the defined Nigeria Coal Resource. The licenses and permits which will make up the JV are outlined below:
 Exploration License Certificates have been secured for two of the grants (14144EL and 14143EL), and Astra has begun the process to obtain the certificates for the remaining sites. Astra will conclude the Joint Venture and acquisition agreement with Shebuel International Ltd. |
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