Celsius Coal announces that the licences for its Kargasha and Kokkia tenements, which together comprise the Uzgen Basin Coking Coal Project, have been extended for two years.
The extension was granted at a meeting of the licensing committee of the Kyrgyz Republic’s State Agency for Geology on January 16. The two licenses have had their expiration dates extended to December 31, 2015.
Commenting on the extension Celsius’ executive chairman Alexander Molyneux stated “The extension of these licences gives the company secure tenure to continue exploration and development works. I expect we will finalize our plans for initial mining in the coming months and then seek to convert some part of the licence area into a licence that permits mining.”
Celsius Coal is an Australian-based exploration company focused on exploring and developing coking and thermal coal deposits in the Kyrgyz Republic.
Celsius has a 90% interest in the Sary Mogol coal licence in the Alai Range region in the south of the Kyrgyz Republic and also has an 80% interest in the Kargasha, Kokkia and Min Teke licences in the Uzgen Basin. Celsius’ main focus is on its Uzgen Basin project.
In addition to its existing assets, the company continues to actively pursue new projects in the resources sector, not only in Australia and the Kyrgyz Republic, but elsewhere in the world, with the hope of subsequently developing mining operations on those projects.