Coal International is yet to acquire any coal properties but said it planned a significant investment within six months, and would make two acquisitions within 12 months.
Coal International was incorporated in November 2004 to make investments or acquisitions in coal mining projects. While the company will consider making investments anywhere in the world, its initial focus is on the US and the former Soviet Union.
“We believe Coal International will deliver to its shareholders significant growth through careful investment in and acquisition of producing or near-producing coal assets,” chairman John Byrne said.
“Admission to AIM plays an important part in the achievement of the company’s objectives as it will provide a raised profile, greater access to capital markets and the potential to use publicly traded shares as consideration for any acquisition or investment.”
Coal International is lead by Cambrian Mining chief John Byrne and Cambrian director John Conlon. Close ties with Cambrian has meant Cambrian will give a right of first refusal to Coal International on all new coal projects outside of North America sourced by Cambrian Mining that fall within Coal International’s investment criteria.
