Celsius executive chairman Alexander Molyneux said the extension of these licenses gave the company secure tenure to continue exploration and development works.

“I expect we will finalise our plans for initial mining in the coming months and then seek to convert some part of the licence area into a licence that permits mining,” he said.

Celsius has a 90% interest in the Sary Mogol coal licence in the south of the Kyrgyz Republic and also has an 80% interest in the Kargasha, Kokkia and Min Teke licenses in the Uzgen Basin.

It is also looking out for projects in the resources sector, not just in Australia and the Kyrgyz Republic, but other parts of the world.