FIRB approves Jogmec investment in Peel
PERTH (miningweekly.com) – The Foreign Investment Review Board (FIRB) has given approval for Japan Oil, Gas and Metals National Corporation (Jogmec) to invest some A$7-million into ASX-listed Peel Mining’s Cobar superbasin project.
Under a memorandum of understanding (MoU) Jogmec would have the right to earn up to 50% of the Cobar project, in New South Wales, by funding A$7-million in exploration expenditure.
Peel has previously said that the deal gave the company a clear path for exploration on the Cobar superbasin assets in the medium term, and along with the co-funding agreements with the state government, provided Peel and Jogmec the best opportunity for exploration success.
Exploration has been ongoing throughout the year and resulted in the delineation of several priority targets which the joint venture partners planned to commence drilling on in the near term.
“The final approval for the MoU has been a great outcome for both parties and we look forward to seeing some great exploration outcomes from the work over the coming months,” said Peel MD Rob Tyson.
“The company has been working with Jogmec to develop a programme of work for the next few months that gives us the best chance of success. This includes the start of the drilling of targets previously identified, as well as work to generate additional exploration targets for the second period of Jogmec’s farm-in, which consists of an additional exploration expenditure of up to A$1.5-million to March 2016.”
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation