MARKETS

Lara grabs Carbhid stake

TORONTO Stock Exchange-listed Lara Exploration has confirmed it will obtain a 13.3% interest in C...

Donna Schmidt
Lara grabs Carbhid stake

Carbhid currently holds the operating contract for the 90.58-hectare (223.8-acre) Escalones concession in the Boyaca district and Lara’s $C220,000 investment to acquire the shares will be used to complete the Carbhid 2 shaft and development that can ultimately raise production to 1000 tonnes per month of thermal and coking coal.

Carbhid completed the El Diamante incline shaft and related reserve development last year. It will begin full production this year.

Excavation of the second incline for Carbhid 2 began this year.

“Carbhid has plans to develop a total of seven operating shafts on the Escalones concession, in addition to consolidating other properties and projects in the district,” Lara officials said.

The Carbhid transaction was generated by the Andean Coal Alliance and funded by Kiwanda Mining Partners.

Kiwanda, which generates, acquires and develops coal projects in Peru and Colombia, has chosen not to participate in the Carbhid financing.

However, Lara said it would work with Carbhid to source and complete larger coal acquisitions in the Boyaca and Santander districts.

Lara's common shares trade on the TSX Venture Exchange under LRA.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production