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  • NSL Consolidated Granted A Third Queensland Thermal Coal Tenement 0 comments
    Nov 26, 2012 1:01 AM

    Dual bulk commodity developer NSL Consolidated (ASX: NSL) now has a third granted thermal coal exploration tenement in Queensland known as EPC 2337, which follows on from the granted EPC 2198, 2338.

    The company has a fourth tenement (2336) - and combined the tenements cover an extensive 2585 square kilometers in the Eromanga Basin in southwest Queensland - a developing region.

    Highlighting the potential of NSL Consolidated's ground holding, the four tenement have a combined exploration target of between 6.6 billion and 18.7 billion tonnes of thermal coal.

    Exploration and development of the thermal coal assets in Queensland is in addition to the company's Indian iron ore business, which continues to attract interest from partners.

    Purchase orders from Indian steel producers

    Recently multiple purchase orders were received from domestic steel producers for trial quantities (100 - 1000 tonnes), which is in addition to the three month 5000 tonnes per month on ore off-take agreement executed early October - which has the potential to be extended.

    Another plus for NSL Consolidated in India is that during the September 2012 quarter, sales and ramp up of the Phase 1 Kurnool iron ore dry separation plant in the southeast Indian state of Andhra Pradesh continued.

    The Phase 1 plant ramp up focussed on the recruitment and training of local people to operate the plant on a two shift basis. The focus on recruiting and training of locals is an important factor in the company's Corporate Social Responsibility focus.

    Run of Mine iron ore from the company's nearby Mangal and Kuja mines was run through the entire Kurnool circuit, enabling the company to continue validation of alignment and calibration of all components of the crushing, screening and dry separation plant.

    Importantly for NSL Consolidated, the upcoming end of the monsoon season provides the potential to ramp up in production and sales tonnages over the coming months.

    Proactive Investors is a market leader in the investment news space, providing ASX "Small and Mid-cap" company news, research reports, StockTube videos and One2One Investor Forums.

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