Australia-based mineral exploration and development company Attila Resources Limited has announced that it has entered in to a binding heads of agreement to acquire a 70 percent interest in a hard coking coal mine operated by US-based Kodiak Mining Company (Kodiak) in the Cahaba coal basin in Alabama, US.
According to the agreement, Attila has the option to secure the mining rights to two coal seams, namely, the Atkins and Coke coal seams, for a consideration of approximately US$11.15 million. The mine is estimated to have an exploration target of 80-100 million mt of hard coking coal.
Attila stated that the full infrastructure in the mine, including wash plant and rail infrastructure, is already in place to recommence operations.