The companies will sign a definitive operation agreement to jointly produce and process thermal coal from an already producing mine with about 5.5 million metric tonnes of mineable coal deposits of calorific value range 5,900-6,500 Kcal/Kg.
The terms and conditions of the joint operation agreement are expected to be finalized by both parties this month.
PHI Group said this transaction is part of its plan to cooperate with currently producing mines to generate current revenues for the company through joint operation and coal trading.
