(EnergyAsia, June 12 2013, Wednesday) — Australia-listed South East Asia Resources Ltd said its wholly-owned subsidiary, South East Asia Energy Resources (Australia) Pty Ltd (SEA), has exercised its option to acquire Tiger Coal Pty Ltd and Energy Investments Pty Ltd which owns three coal exploration licences on Tasmania island.
SEA has established a wholly owned subsidiary, South East Asia Energy Resources (Tasmania) Pty Ltd to undertake the exploration programme for the three licences covering an area of around 700 sq km. The area is deemed to have potential for shallow open cut bituminous coal preferred by cement producers.
The Central Midland project area is serviced by extensive infrastructure including two nearby large regional towns, highway, and rail with direct access through the area and direct 150km to Bell Bay deep-water port.
SEA expects to start its exploration programme this month, with a view to satisfying the purchase consideration terms of establishing resource base of at least 30 million tonnes of coal.