Oracle signs MoU with Thatta for coal supply, Pakistan

Oracle Coalfields PLC, the UK coal developer of a lignite mineral property located in the southeastern desert of the Sindh Province, Pakistan, signed a Memorandum of Understanding (MoU) with Thatta Cement Company Ltd for the proposed supply of coal from the mine that Oracle is developing in Block VI of the Thar Coalfield.

The MoU, which is between Oracle’s 80 per cent-owned subsidiary Sindh Carbon Energy Limited and Thatta, will see Oracle supply dried coal to Thatta’s cement works. The representatives will meet at a future date to sign a Coal Supply Agreement and agree specifications, quantity and price of coal to be supplied.

The MoU supplements the Memorandum of Understanding signed earlier with Lucky Cement Limited, a major cement manufacturer in Pakistan, and provides Oracle with the option of increasing production volumes, in the medium to long-term, at its project to supply pre-sourced demand from Pakistan’s cement industry.