Last checked at 8 Nov 2011 07:00
8th November 2011
Oracle Coalfields PLC
(`Oracle' or the `Company')
Application for Mining Lease
Oracle Coalfields PLC (AIM:ORCP), the UK developer of a 1.4 billion tonne coal resource in the south-eastern desert of the Sindh Province, Pakistan, today announces that its 80% owned subsidiary, Sindh Carbon Energy Limited, has submitted an application for a 30 year mining lease, with a 30 year extension, for the Company's Block VI Thar Coalfield Project.
The Company aims to become the first producing coal mine in Pakistan that will generate vital important benefits for the country's national economy as the pioneer developer of the Thar Coalfield. As part of the process for the issuance of the Mining Lease, the Mining Lease Application ('Application') was submitted to the Thar Coal Energy Board, Sindh Coal Authority, the Coal & Energy Development Department, and the Mines & Minerals Development, Government of Sindh.
As part of the supporting comprehensive technical documentation submitted with the Application, an interim Environmental & Social Impact Assessment report has been also included.
Sindh Carbon Energy Limited, currently has an exploration licence for Block VI of the Thar Coalfield.
Shahrukh Khan, Chief Executive of Oracle Coalfields, said:
"The successful application for a mining lease would give the company full mining concession status and will demonstrate the strong continuing support of the Sindh Government for the project. This is another important step by Oracle Coalfields as we work towards bringing Pakistan's first coal mine into production and thereby contributing a major foundation for the future economic well-being of the country."
ENQUIRIES:
Oracle Coalfields PLC
Shahrukh Khan, CEO
Telephone: +44 (0) 207 317 4050
Email: s.khan@oraclecoalfields.com
Blythe Weigh Communications
Tim Blythe, Ana Ribeiro, Matthew Neal
Telephone: +44 (0) 207 138 3204
Libertas Capital Corporate Finance Limited
Sandy Jamieson, Neil Pidgeon
Telephone: +44 (0) 207 569 9650
WEBSITE: www.oraclecoalfields.com