ATH Resources complete Bertholene Concession acquisition
ATH Resources plc, one of the UK’s largest coal producers, has completed the acquisition of the Bertholene Concession through its French subsidiary, Société des Ressources Minieres du Massif Central SA (SRMMC).
The Bertholene Concession covers an area of approximately 36km2 in south central France, not all of which is coal bearing, and runs until 31 December 2018. The concession conveys the right to access land for exploratory work and the exclusive right to mine coal within the concession area. Prior to mining, an environmental impact assessment (EIA) will be required.
The company intends to carry out drilling ahead of the EIA. Preliminary assessments indicate an inferred coal resource of approximately 4.5 million tonnes. ATH Resources hope to commence production in 2006 with an annual output of 300,000 tonnes. The coal produced is expected to be sold into the French power and cement industries.
Chief executive officer Tom Allchurch said: ‘This is a major step in bringing coal production back to France. France closed its last coal mine in March 2004 but still maintains a market that consumes 18 million tonnes per annum of imported coal.
‘This is significant progress for the Group in extending its resource base and production life well beyond that of the Group’s two current producing mines, Skares Road and Garleffan. We hope that Bertholene will form an important part of the Group’s coal production from 2007 onwards.’
