New Age Exploration Limited (NAE), an Australia-based miner with coking and thermal coal assets in Colombia and the UK, has announced that it has received an underground license for a major coking coal project in the United Kingdom, via application made to the UK Coal Authority.
The project called the Lochinvar Project is NAE's first coal acquisition outside of Colombia, where the company owns a portfolio of coking and thermal coal assets, and the grant of the Lochinvar license significantly strengthens NAE's presence as an emerging near-term coal producer.
Significant coking coal markets for Lochinvar include European markets which are currently importing coking coal from Australia, the United States and Canada.