Intra Energy Corporation
Intrasia Capital is a substantial shareholder in Intra Energy Corporation Ltd (Intra Energy), a publicly-listed (ASX:IEC) Australian-based exploration and resource development company with major thermal coal assets in Tanzania. Intra Energy’s operating arm in Tanzania is Tancoal Energy Limited, which was formed by a Joint Venture between Intra Energy Corporation Ltd and the National Development Corporation of Tanzania (NDC).
Intra Energy operates in Tanzania, Australia and ASEAN.
Tanzanian Projects
There is significant opportunity in Tanzania for domestic coal producers to play an important role in supplying fuel for power generation. Currently, most coal is imported and lands in Tanzania at a relatively high cost. Companies that have strategically located, good quality thermal coal resources that can overcome the limited infrastructure hurdles and obtain long term stable offtake agreements, will have a competitive edge.
Intra Energy’s flagship coal project in Tanzania is the Mbalawala mine in the Ngaka basin. The Mbalawala Bankable Feasibility Study completed in September 2010 shows the Mbalawala mine has a mineable reserve of 40 million tonnes of coal and a resource of 251 million tonnes.
Intra Energy are commencing small scale mining (initially at 150,000tpa in 2011) at Mbalawala in May 2011 with first coal shipments scheduled for June – July 2011.
Intra Energy has also recently entered into agreements to acquire coal leases in the Songwe-Kiwira Coalfield, which lies just to the north of Lake Nyasa in southwest Tanzania. There is potential for outlining significant resources of open cut and underground thermal coal, which could substantially increase the Company’s current resources in Tanzania.
ASEAN projects
Intra Energy has entered into a joint venture agreement with Indochina Coal Pty Ltd (Indochina) to explore and develop coal properties in Laos and Vietnam.
Indochina is a privately held Australian company, which for several years has been researching and identifying early stage coal opportunities in Indochina and South East Asia through regional evaluations and reconnaissance. The Principals of Indochina include highly respected resource geologists with many years of successful coal exploration experience in Indochina and South East Asia, much of this in the early stage identification of opportunities.
The group has now compiled a significant database on regional ASEAN coal occurrences, completed initial field work in prospective areas, and prioritised exploration opportunities. Two prospective areas in Laos, and two areas in Vietnam, currently not under tenure, have been identified and the Company will make applications for Prospecting and Exploration Licences.
Australian Projects
Intra Energy has a number of tenements in Western Australia which are prospective for uranium, some of which are operated in joint ventures with our partners. As Intra Energy has shifted its focus towards coal, the Company is currently evaluating the strategic direction and value of these tenements.