MARKETS

Noble times ahead for PanAsia

SINGAPORE'S Noble Group will take a 5.34% stake in Indonesia-focused PanAsia and act as a strateg...

Staff Reporter

Noble will subscribe to seven million shares at seven cents each.

Pan Asia and Noble had developed a commercial relationship through previous arrangements in the region and Pan Asia CEO Alan Hopkins said the company is pleased to strengthen the ties between the two companies.

"We have a shared motivation to expedite the advancement of production at TCM, and to pursue additional growth opportunities,” he said.

"In particular, Noble has a strong understanding of, and presence in, the Indonesian coal industry and can provide Pan Asia with invaluable support in delivering the TCM Project."

Pan Asia also appointed Noble as a strategic adviser to the project, through which they will provide strategic marketing advice and assist with sales and capital raising.

Pan Asia is currently updating a feasibility study for the 75%-owned project ahead of expected development and first production in 2014.

The JORC Resource for all seams at TCM increased to a total combined 177 million tonnes from 128Mt in November.

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