TerraCom Limited (ASX:TER) Updates Moorlands Project Progress
Project Development Overview
TerraCom Limited (ASX:TER) has updated shareholders on progress concerning the Moorlands Thermal Coal Project. This development follows a Cooperation Agreement with Wintime Energy Group Co., Ltd. The companies have established a joint steering committee to enhance collaborative efforts.
Key Developments
The steering committee has successfully appointed a Project Development Manager to speed up approvals and development planning. TerraCom and Wintime are also advancing the preparation of definitive project documentation and focusing on key commercial principles.
Infrastructure Progress
Additionally, the joint effort aims to develop a detailed functional description of Blair Athol as an integral infrastructure and logistics precinct. This enhancement is vital for the efficient development planning and final documentation of the Moorlands Project.
Future Outlook
A further update is anticipated once the project documentation is finalized, expected in Quarter 3 of FY2025. The target for first coal production from the Moorlands Project remains set for June 2026.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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