Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Intra Energy Corporation Ltd    IEC   AU000000IEC4

INTRA ENERGY CORPORATION LTD

(IEC)
No quotes available
-- AUD   0.00%
06/16INTRA ENERGY : Iec may 2020 update
AQ
05/14INTRA ENERGY : Iec update april 2020
AQ
03/18INTRA ENERGY : IEC Update February 2020
AQ
SummaryNewsCalendarCompany 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Intra Energy Corporation Ltd : Intra Energy commences coal mine development in Malawi

share with twitter share with LinkedIn share with facebook
01/26/2013 | 06:21pm EDT



25 January 2013
Company Announcement Officer
Australian Securities Exchange
Dear Sir/Madam

INTRA ENERGY COMMENCES COAL MINE DEVELOPMENT IN MALAWI TO SUPPORT ITS EXPANDING REGIONAL EASTERN AFRICAN COAL STRATEGY

Intra Energy Corporation (ASX:IEC) continues to implement its Eastern African regional expansion strategy by acquiring coal licences in Malawi. The licences include an operational coal mine which it is planning to expand during this quarter. IEC has also established a representative office in Lilongwe, Malawi.
The Chairman of IEC, Mr Graeme Robertson stated:

"According to the World Bank, only 8 per cent of Malawi's population of approximately 16 million people has access to electricity. Malawi's total demand for power currently stands at 300 megawatts (MW), resulting in a generation shortfall. This shortfall is projected to grow rapidly and the Malawi Ministry of Energy estimates that the country will need 603 MW by 2015 and 829 MW by
2020.
The granting of the coal mining and exploration leases in Malawi allows the development of an international standard coal mine to supply existing industrial markets and support coal-fired electricity generation in the country. Not only does this enhance IEC's role as the major regional coal supplier in Eastern Africa it also provides the base for what is needed to support growth and prosperity in Malawi - jobs and electricity generation".

Coal Licences

The concessions include the operating Nkhachira Coal Mine within Mining Licence
ML0143/2005 and three Exclusive Prospecting Licences (EPL), located in the north of Malawi, west of the town of Karonga.
IEC has established a joint venture company in Malawi, Malcoal Mining Limited (Malcoal). IEC holds 90% and CMI a 10% free carried interest. All management and operating rights lie with IEC.

The Government of Malawi granted three EPL's and a ML to CMI, which were transferred to Malcoal on 23 January 2013. Intra Energy has acquired the concessions from CMI for
$800,000 and agreed to provide a loan of $150,000 to CMI to be repaid in priority to any distribution made to CMI.
The EPL's are:
1. EPL 0174/2005 granted on 22 September 2005 over an area of 37.5 sqkm at
Mwenewenya.
2. EPL 0209/2007 granted on 27 June 2007 over an area of 12.2 sqkm at Mwapu
3. EPL 0163/2005 granted on 7th July 2005 over an area of 35 sqkm at Livingstonia.
The EPLs were renewed on the 15th June 2012. The Mining Licence ML0143/2005 was granted on 30th December 2005 for fifteen years, covering an area of 2 square kilometres, immediately adjacent to EPL 0174.

Appendix 1 provides a map of the concessions and further details of the resource from the drilling program conducted as part of the due diligence program.

Presentation to the President of Malawi and Establishment of Representative Office


IEC attended the inaugural Mining Governance and Growth Support Project held in Lilongwe, Malawi on 22 January 2013 and presented to Her Excellency, Mrs Joyce Banda, President of Malawi on IEC's support of Malcoal to develop Malawi coal resources to fuel national growth.

IEC Executive Director and CFO Jonathan Warrand presents IEC's Malawi coal plans

To Her Excellency Mrs Joyce Banda, President of Malawi

Page | 2

Suite 2001, Level 20 Australia Square

264 George Street, Sydney 2000 AUSTRALIA

P +612 9252 5766

F +612 9247 8966

www.intraenergycorp.com.au


IEC has established a representative office with Malcoal in Malawi at Lilongwe, the capital city of Malawi. The office opening was attended by His Excellency, Mr Matthew Neuhaus, Australian High Commissioner to Malawi. The office will provide administrative support to IEC, Malcoal and AAA Drilling Limited in Malawi as well as marketing and supply services.

For further information please contact:

Shareholder Enquiries Jonathan Warrand Executive Director & CFO

Intra Energy Corporation Limited Tel: (02) 9252 5766 www.intraenergycorp.com.au

Page | 3

Suite 2001, Level 20 Australia Square

264 George Street, Sydney 2000 AUSTRALIA

P +612 9252 5766

F +612 9247 8966

www.intraenergycorp.com.au

Appendix:

Location of Nkhachira Coal Mine (Location Map 1) Geological Map of the North Rukuru Basin (Geological Map 1)

Geological mapping and exploration drilling has been carried out by IEC as part of a comprehensive due diligence program over the past several months. Activities were concentrated in ML143 and EPL174 where significant, good quality thermal coal resources had been delineated by CMI through drilling and mining. The resources lie in the far northern part of the North Rukuru Basin consisting of Karoo Formation sediments, the major coal bearing formation of Sub-Saharan Africa (refer Geological Map 1 above).
Coal outcrops and other sediments were mapped and the major stratigraphy and coal seam sequence defined. There are three main seams in the Nkhachira
deposit - the Upper Seam with thickness 0.8m, the Middle Seam 0.8 to 2.1m and the
Lower Seam 3.0m.

Page | 4

Suite 2001, Level 20 Australia Square

264 George Street, Sydney 2000 AUSTRALIA

P +612 9252 5766

F +612 9247 8966

www.intraenergycorp.com.au


A drilling program was subsequently designed and carried out by IEC's subsidiary company AAA Drilling Limited. Seventeen (17) holes were drilled for a total of 711.5m core. Holes ranged from 30 to 60 metres in depth (refer Drillhole Table 1).

BOREID

EAST

NORTH

RL

START_DRILL

FINISH_DRILL

EOH

NKDD001

574019

8894066

1057

25/10/2012

26/10/2012

53.5

NKDD002

574092

8893980

1061

27/10/2012

28/10/2012

62.5

NKDD003

574160

8893885

1064

29/10/2012

30/10/2012

59.5

NKDD004

574092

8893980

1061

30/10/2012

31/10/2012

56.5

NKDD005

574062

8893921

1072

1/11/2012

1/11/2012

32.5

NKDD006

574182

8893840

1064

2/11/2012

3/11/2012

59.5

NKDD007

574126

8893817

1071

4/11/2012

5/11/2012

50.5

NKDD008

574252

8893743

1084

5/11/2012

7/11/2012

62.5

NKDD009

574017

8894014

1056

8/11/2012

8/11/2012

32.5

NKDD010

574027

8893949

1067

9/11/2012

9/11/2012

26.5

NKDD011

574064

8893894

1064

10/11/2012

10/11/2012

29.5

NKDD012

574049

8893911

1062

10/11/2012

19/11/2012

26.5

NKDD013

574041

8893928

1060

19/11/2012

20/11/2012

26.5

NKDD010A

574022

8893944

1058

20/11/2012

20/11/2012

11.5

NKDD014

574050

8893858

1071

20/11/2012

21/11/2012

23.5

NKDD015

574099

8893891

1059

21/11/2012

22/11/2012

41.5

NKDD016

574287

8893663

1080

22/11/2012

23/11/2012

56.5

TOTAL

711.5

Drillhole Table 1


Five (5) outcrop, 4 mine and 132 core samples were taken and are being analyzed in laboratories in Tanzania and Malawi. IEC is progressing final assay results from the drilling program before reporting definitive coal quality however, representative channel sampling from coal outcrops, the seams exposed in the Nkhachira mine and initial drill hole results, show the deposit contains partly high grade thermal coal with Calorific value
ranging between 5,500 and 7,150 kcals/kg and ash between 12 and 28% (air dried basis).
The Nkhachira Coal Mine is situated approximately 2.5km west of Kayelekera Uranium Mine (Paladin Energy Limited) and approximately 30km west of Karonga. CMI have carried out semi-mechanized mining at Nkhachira for several years to meet an expanding domestic market representing agribusinesses and breweries.

Page | 5

Suite 2001, Level 20 Australia Square

264 George Street, Sydney 2000 AUSTRALIA

P +612 9252 5766

F +612 9247 8966

www.intraenergycorp.com.au



IEC has carried out production feasibility work on the Nkhachira deposit and designed an open pit mine utilising truck and shovel mechanised mining techniques.The coal to be extracted does not require expensive preparation and will be delivered to consumers by road and later by barge. A contract mining arrangement has been negotiated with a well recognised local quarry contractor who has good quality mining, crushing and handling equipment. It is planned to commence mechanised mining operations in early 2013. A block of 100,000mt at an average stripping ratio of 6:1 will be mined to generate early cashflow. Generally, overburden to coal ratios vary between 5 and 11:1 across the deposit (refer Mining Figure 1 below).

Mining Figure 1

Page | 6

Suite 2001, Level 20 Australia Square

264 George Street, Sydney 2000 AUSTRALIA

P +612 9252 5766

F +612 9247 8966

www.intraenergycorp.com.au

distributed by
share with twitter share with LinkedIn share with facebook
All news about INTRA ENERGY CORPORATION L
06/16INTRA ENERGY : Iec may 2020 update
AQ
05/14INTRA ENERGY : Iec update april 2020
AQ
03/18INTRA ENERGY : IEC Update February 2020
AQ
02/13INTRA ENERGY : Iec january 2020 update
AQ
2019INTRA ENERGY : IEC Update October 2019
AQ
2019INTRA ENERGY : IEC Update
AQ
2019INTRA ENERGY : IEC Update September 2019 IEC Update September 2019
AQ
2019INTRA ENERGY : IEC Update August 2019
AQ
2019INTRA ENERGY : Tancoal Energy Limited - Royalty demanded on transport of coal
AQ
2019INTRA ENERGY CORPORATION LIMITED : - IEC Update July 2019 IEC Update July 2019
AQ
More news
Managers
NameTitle
James L. Shedd Chief Executive Officer, MD & Director
Graeme Lance Robertson Non-Executive Chairman
Kerry Angel Chief Financial Officer & Financial Controller
Troy Wilson Non-Executive Director
Alan Robert Fraser Non-Executive Director
Sector and Competitors