JAPANESE conglomerate Sumitomo is tipping another $2.5 million into the Hillalong project in Queensland after it deciding to proceed with Phase 2B of the Farm-In Agreement with Bowen Coking Coal.
The Phase 2B work program includes extra exploration drilling and firming up the resource.
Sumitomo will contribute to the mine's work program and may then exercise an option to acquire a further 5% interest in the Hillalong coal project, taking its interest to 20%. BCC will hold 80% interest...
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