Iron ore majors ramp up supply even as China faces challenges
Iron ore is one of the year’s worst performing major commodities, slumping by almost a quarter as China’s property crisis drags on.
NSL Consolidated (ASX: NSL) announced Monday it has been formally granted the first of its four thermal coal exploration tenements, EPC 2198, in the Eromanga Basin in southwest Queensland, Australia.
The project is neighbour to East Energy Resources’ (ASX: EER) 1.2 billion thermal coal project and to International Coal’s (ASX: ICX) EPC 2198 South Blackall project, which has already defined inferred resources of 730 million tonnes.
NSL expects to build a resource to supply thermal coal to fast growing Asian energy markets.
