EP Resources will make a standby prepayment facility for the coal offtake of up to US$20 million ($26.9 million).
Geo Energy has signed a life-of-mine coal offtake agreement with EP Resources. The latter, which is part of large European energy group, EPH group, has committed to offtake 75% to 85% of export volumes of Triaryani coal. This is limited to up to 12 million tonnes of coal per annum for the life of the mine and priced at an index-linked price less the offtake margin.
The coal offtake is for the supply of coal for Geo Energy’s subsidiary, TRA coal mine, which the former acquired on Oct 18, 2023.
